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Minting Mechanism
A conventional farming token will indirectly inflate its own token supply by providing rewards to stakers, generating unsustainable selling pressure in the process. $FBA will not follow this method, instead adopting a new approach of minting after a successful transaction. This new minting system will not flood the market with ‘dead’ reward tokens (which are usually instantly dumped), but only tokens generated from performance fees.
FBA minting process for every *qualified transaction that has performance fees
Important: The value of FBA is hard capped at a minimum of $0.1 for minting. This means if current price of $FBA is lower than $0.1 then A = tx performance fees / $0.1
- Maximum supply of FBA is 21 million tokens.
- $FBA is a deflationary token. The higher the price, the less $FBA that is being minted. Therefore, there is a chance that all 21 million $FBA tokens will never be fully minted.
- The aim is to ensure Firebird reaches at least 100 million USD daily trading volume on multiple chains. This will create a steady stream of income even if $FBA tokens stop minting.
- Users using our Aggregator on non-Fantom chains will be able to claim $FBA on Fantom later. (Snapshots are taken on Tuesdays and Fridays at 8 AM UTC)
* A ‘Qualified transaction’ is a transaction where at least one of the tokens involved the swap (input/output) is in the table below.
Last modified 4mo ago