Step 1

Fill a medium bowl with ice cubes and water and set it next to the stove.

Step 2

Fill a small saucepan about three-fourths full of water. Bring the water to boil over medium-high heat. Add the basil and cook for 10 seconds. Using a slotted spoon, immediately transfer the basil to the bowl of ice water and let cool for 5 minutes. Using the slotted spoon, remove the basil from the ice water, wrap the wilted basil in a paper towel, and squeeze to wring out as much water as possible.

Step 3

Place the blanched basil, the shallot, garlic, lime juice, vinegar, olive oil, and red pepper flakes in the bowl of a small food processor fitted with the multipurpose blade. Blend until well combined and smooth. Season to taste with salt and refrigerate in a tightly closed mason jar for up to 4 days.