Fuzz token is the main utility and governance token of Fuzz.Fi and Ript.io
Token Name: Fuzz Finance
The FUZZ Finance token will be the epicenter of the Fuzz.Fi ecosystem. Our main prerogative is to create new, exciting and extremely unique dapps to bring the world to the Harmony ecosystem and drive adoption. I will preface, these dapps, will not always be finance related but will still require the FUZZ token in one way or another.
We make the commitment to be a Harmony ONLY platform. As many other platforms deploy on multiple chains, we will be fully committed to being only available on Harmony.
During the Initial Staking Offering (ISO), there is 42,942,393 available to be claimed, we will assume all tokens will be claimed but will update once the token claim period is over. This means that ~4.3% of our soft-cap max supply will be minted. Please refer to Fuzz Swap emission rates
There will be NO hard cap for FUZZ, however we do have a soft cap of 1 billion tokens, the soft cap is a marker we'll use to gauge our deflationary mechanisms and attempt to stay below that threshold. We believe we will create enough utility and demand in our other decentralized applications to create a natural inflation control mechanism. All of our other dapps will use ONE tokens to buy and burn FUZZ or to accept FUZZ as a fee and burn the FUZZ that is received. Below are some of the deflationary mechanisms we will deploy.
- 0.05% of every trade made on FuzzSwap
- 2% of every yield harvest in the Auto FUZZ Pool
- 100% of the ONE received from any Fuzz.Fi or Ript.io dapps will be used to buyback and burn FUZZ
- 100% of any token received from any Fuzz.Fi dapp will be used to buyback and burn FUZZ
- 100% of FUZZ received from any Fuzz.Fi dapp will be burned
- We will continually add more mechanisms in the future to help control supply and boost our overall tokenomics
Our soft cap is 1 billion tokens. However with our deflationary mechanisms, this will slow or even create a deflationary supply.
- Swap emission rates per block from starting block (Block 16762500):
- 0-500k: 40 FUZZ (20 million FUZZ)
- Block 17,262,500
- 500k-1.5m: 20 FUZZ (20 million FUZZ)
- Block 18,262,500
- 1.5m-3.5m: 15 FUZZ (30 million FUZZ)
- Block 20,262,500
- 3.5m-13.5m: 10 FUZZ (100 million FUZZ)
- Block 30,262,500
- 13.5m+: 5 FUZZ (78,840,000 FUZZ per year)*Subject to change based on market conditions
- Initial Stake Offering: ~43 million tokens
- Community DAO Treasury: 2 million tokens
- When a DAO is created, the 2 million tokens will be used to create community initiatives
- Founder Treasury: 5 million tokens + 500k tokens per month (Starting October 1st)
- All 500k tokens will be burned if total staked of previous month to validator is above an average of 100 million ONE
In total, initial supply will be approximately 54 million tokens. In regards to our soft cap (1 billion), that is about 5.4% circulating supply. The remaining 94.6% will be used for LP rewards and Dapp incentives. 50% of all treasuries will be locked for 6 months.