Basechain is the Basechain Cash-backed hub for transacting between sidechains and Ethereum mainnet. It allows for highly-scalable, user-facing DApps and secure asset transfers between chains. In Infinito Wallet, Basechain is a D-app which integrated in the wallet.
User can use Basechain to stake LOOM token with a validator. There are validators and delegators who stake their LOOM tokens to collectively uphold the security of the network. Validators earn LOOM as block rewards for performing various duties on the network (similar to the role of ETH on Ethereum). LOOM holders earn a portion or these rewards by delegating to validators.
You can refer this to get more details: https://loomx.io/token/ and https://dashboard.dappchains.com/faq