Flurry Finance’s Tokenomics with metrics (Updated on 12 Aug 2021)
Flurry Finance is creating the future of yield farming. A way to earn, trade, and spend with stability, flexibility, and ease! And since Flurry is launching our IDO soon, we thought we’d give you the tokenomics of our tokens.
Background
The DeFi space has moved so quickly that the user experience is often an afterthought. Main issues include lock up periods, requirement of technical knowledge, and high gas costs. Flurry aims to provide solutions to all of these by offering a cross chain yield aggregator that includes an interest distribution mechanism that allows you to trade your tokens while earning interest.
The rhoToken
Stable, tradable, redeemable
Flurry issues rhoTokens, which are backed 1:1 by stablecoins.
rhoUSDT (backed 1:1 by USDT)
rhoUSDC (backed 1:1 by USDC)
rhoBUSD (backed 1:1 by BUSD)
Yield Mechanism
- Users convert their stablecoins to rhoTokens under the Flurry Protocol.
- Flurry generates yields by allocating the backing stablecoins to different DeFi protocols.
- Yields generated are distributed to the holders of the rhoTokens by increasing the supply of rhoTokens, and allocating the yield to users’ wallets automatically. This allows rhoTokens to maintain their stable value, while giving users access to fungible tokens. A fundamental difference between Flurry and other yield aggregators.
- Users can then redeem or trade underlying rhoTokens at any time they want.
The FLURRY Token
The FLURRY token is the governance token of the Flurry Protocol. They have the following utilities:
- Voting:
Vote on adding/ removing yield farming strategies and vote on the risk factor of yield farming strategies. - Fee Entitlement:
Flurry users have to pay:
- management fee of 10% of the generated yield
- 0 redemption fee (subject to be updated 3 months after launch)
Governance token owners are entitled to earn a part of the above fee. - Buy and Distribute Mechanism:
The remaining fees income will go to buy FLURRY tokens and put them back in the staking pool for staking rewards.
IDO
Token Ticker: FLURRY
Total Supply: 10,000,000,000
Initial Liquid Tokens: 280,000,000
Initial Market Price: 0.003 USD
Token Allocation by Percent
Token Unlock and Vesting Schedule
Seed: 5% (0% unlocked at listing. Daily vesting over 1 year)
Private: 9% (20% unlocked at listing. Daily vesting over 1 year)
Public: 1% (100% unlocked at listing)
Team: 15% (6 months cliff. Quarterly vesting over 2 years)
Advisor: 5% (6 months cliff. Quarterly vesting over 2 years)
Partnerships 15% (0% unlocked at listing. Monthly vesting over 5 years)
Community: 40% (0% unlocked at listing. Monthly vesting over 5 years)
Reserve: 10% (0% unlocked at listing. Monthly vesting over 5 years)
3 Years Circulating Supply Release
Conclusion
Flurry is committed to making a better experience for users in the DeFi space, while revolutionizing the way yield farming is conducted in general.
We believe that by launching a stable and automated protocol that generates yield would allow our users to be flexible to use rhotokens, as a medium of exchange while interest and stakes (FLURRY token)are being earned.
We are doing a service to the crypto community and beyond. Flurry is the future of yield farming. Come join us!
About Flurry
FLURRY is a DeFi protocol offering yield aggregation with rhoToken, which is pegged 1:1 to its underlying stablecoin. It automatically farms for yields without locking up funds or interest earned by diversifying DeFi product risk, resulting in lower gas fees.
We automate the tedious task of locking/unlocking and switching in and out of DeFi products on different chains to generate yield. Current yield aggregators are limited to Ethereum based products or work on a single chain, whereas FLURRY aims to work cross-chain to look for the best yield after cost on different chains.
For more information, read our whitepaper:
https://www.flurry.finance/Flurry.Litepaper.pdf
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