AFI Club official launch
ARIES FINANCIAL launches AFI CLUB PROGRAM to reward users who contribute to governance.
What is an AFI token? :
It represents the governance interests of ARIES FINANCIAL and is used to vote in protocol changes or community decision making. This facilitates democratic decision-making, which reflects the consensus of token holders.
Governance in the formal sense of ARIES FINANCIAL has not yet begun, but in the coming months, governance forums and community voting will begin, with lively discussions and debates in the community.
After the start of CLUB PROGRAM, AFI will be rewarded primarily to governance participants (CLUB PROGRAM participants).
Since AFI has the nature of a currency, it can be said that governance will also control the amount of AFI emitted onto the market (Circulating supply).
AFI CLUB PROGRAM:
AFI CLUB PROGRAM is a whitelisted function that only members who have registered their e-mail address and wallet address are eligible for. Users can join CLUB by being whitelisted, and staking members will receive up to 10 times more rewards.
AFI CLUB PROGRAM will be the genesis of ARIES FINANCIAL governance and will further strengthen the ARIES FINANCIAL ecosystem in the future.
How to participate in AFI CLUB PROGRAM:
Users can join CLUB PROGRAM by whitelisting their email address and staking address. The platform allows users to see the previous month’s reward history for each pool.
① Register a wallet staking AFI to participate in CLUB and receive rewards. (Can be registered from the platform)
② CLUB rewards will only be paid to addresses that are staking AFI. Use the same wallet for all staking pools.
③ In order to earn CLUB rewards, users must stake 1000 AFI or more for 7 days or more. (Please make sure that your average daily balance is at least 1000 AFI).
Rules:
Whitelisted users must continuously stake at least 1000 AFI for seven consecutive days in order to receive the boosted AFI CLUB reward. (Minimum Balance> 1000 * Inflation Index) The minimum daily average for the last 7 days will be applied to the boosted reward schedule.
The boosted reward schedule is as follows.
(1000–1999) * Inflation index = 0.1x
(2000–2999) * Inflation index = 0.2x
(3000–3999) * Inflation index = 0.3x
(4000–4999) * Inflation index = 0.4x
(5000–5999) * Inflation index = 0.5x
(6000–6999) * Inflation index = 0.6x
(7000–7999) * Inflation index = 0.7x
(8000–8999) * Inflation index = 0.8x
(9000–9999) * Inflation index = 0.9x
(10,000–19,999) * Inflation index = 1x
(20,000–29,999) * Inflation index = 2x
(30,000–39,999) * Inflation index = 3x
(40,000–49,999) * Inflation index = 4x
(50,000–59,999) * Inflation index = 5x
(60,000–69,999) * Inflation index = 6x
(70,000–79,999) * Inflation index = 7x
(80,000–89,999) * Inflation index = 8x
(90,000–99,999) * Inflation index = 9x
100,000+ = 10x
For AFI tokens staked in the governance pool:
・ Boosted reward =
(Staked% (1,000 * inflation index)) / 10
-If the boosted reward> 10, the maximum is 10.
Reward distribution:
Once a week, on Sunday, the BonusReward.sol contract notifyRewardAmount (amount, address) calls with the users wallet address and acceleratedReward. The reward balance is accumulated in the map <address, uint256> reward. Users can claim bonus rewards for the past few weeks once a week starting Sunday by calling the getReward () function from the AFI CLUB page.
Inflation index:
ARIES FINANCIAL also incorporates a mechanism called inflation index. This will increase according to the number of AFI tokens issued.
(Example)
Currently, a total of 400,000 AFI is pending issuance. The inflation index at this time is x1. If an extra 40,000 AFI is issued next week, the inflation index will be 1.1, starting at x1.1. This is the number that adjusts inflation. (Maximum x10)
If the total issued is x2 at the beginning of the program, 180,000 AFI will be required to reach x10.
During the first round, the minimum required to get a boosted reward for the stable coin pool (pools for afiUSDC / afiUSDT / afiDAI) is 1000 * staking AFI over the last 7 days. Must be at least the inflation index.
Next week, if inflation index = 1.1, it will be 1100 and all levels will change 10% each.
