IFO Sale Details
Sale start block: 5554180 (5pm SGT on Wednesday 10th of March 2021)
Sale end block: 5555380 (6pm SGT on Wednesday 10th of March 2021)
Amount to be raised: $3,000,000 USD in CAKE-BNB LP tokens
Tokens to be sold: 150,000 BELT
(Please note — BELT has no hardcap on total supply and will have a day 1 inflation rate of 23%)
Price per token: 1 BELT = $20.00 USD
Cake to be burnt: $1,500,000 USD
Method: Overflow (see below)
200,000 BELT have been pre-minted:
- 150,000 BELT to be sold via IFO on PancakeSwap
- 15,000 BELT for Syrup Pool Rewards
- 7,500 BELT to provide initial liquidity
- 27,500 BELT to be used by the Belt team to bootstrap initial partnerships
BELT emission rate = 1.178 BELT per block
- 1 BELT per block as staking rewards
- 0.178 BELT per block as “Build allocation”
BELT accumulated for the “Build Allocation” will be used for the following:
- 70% will be used purely for governance once the full governance system comes out for stability and will be locked up until then.
- 20% will be used for R&D
- 5% will be used for marketing
- 5% will be used to cover operational costs
What is Belt.fi?
Belt.fi is a protocol that allows users to retain the stability of their asset positions and get maximum yields with minimal risk (little to no impermanent loss). They accomplish this with a combination of three main strategies:
Convenient, automated vault compounding
- Belt.fi maximizes yield returns on your asset position by strategically utilizing a variety of vaults and compounding these an optimal number of times per day.
Strategy modifying yield optimization
- The bToken is not simply a single, set strategy. As it is connected to a multitude of strategies, it instantaneously shifts to the most optimal strategy available so your assets get the best possible yield.
AMM with stable or same-value tokens with low slippage and low IL (impermanent loss)
- Impermanent loss has plagued liquidity provisioning from the start of DeFi, but as Belt.fi offers you the possibility of participating in AMM with a variety of bTokens that have close to no price volatility relative to each other, you retain the convenience and assurance of retaining your token position while getting returns with no impermanent loss or price impact. This is because the pools contain a multitude of tokens with similar value/origin.
- Belt.fi’s AMM functionality offers benefits both for Makers (liquidity providers) and Takers (those doing token swaps). Makers get the highest yield from their deposits through Belt.fi’s strategy modifying yield optimization, compounding, and the BELT token. Takers can take advantage of Belt.fi’s low trading fees, low slippage, and low price impact.
In short, what you get from Belt.fi is:
- Stable positioning of your assets with little to no impermanent loss
- Automated, maximally optimized yield
- Complete Decentralization
- A fully governance-based BELT token economy
What is $BELT?
BELT is the governance and incentivization token of Belt Finance. BELT will be distributed to all types of pools, independent on whether they are token-based or LP-based. BELT has the role of giving incentive to BSC economies and subsequently acting as a booster for the BSC economy as a whole.
- 1.178 BELT is emitted per block. This equates to 33,926.4 BELT per day.
BELT supply has no hard cap. Supply will be controlled through deflationary mechanisms including comparably high buyback burns and through governance consensus.
BELT Inflation Distribution
Inflation will be distributed to our pools and LP stakers. BELT will be distributed to all types of pools, independent on whether they are token-based or LP-based. BELT has the role of giving incentive to BSC economies and subsequently acting as a booster for the BSC economy as a whole.
Initial Allocation Ratio
- BNB-BELT PancakeSwap LP stakers: 0.5 BELT/block
- Venus pools stakers in Belt.fi: 0.5 BELT/block
- Build Allocation : 0.178 BELT/block. The build allocation will be used to ensure sustainable development and rapid innovation.
Belt.fi combines yield optimizing with an AMM protocol. Deflationary mechanisms occur in both processes.
- 50% of swap fees from each swap transaction is used buyback BELT and burned (sent to the burn address). The remaining 50% is given as a reward to liquidity providers.
- 8% of yield is used to buyback and burn BELT (sent to the burn address). The remainder of the yield is given as a reward to liquidity providers.
The real time deflation can be seen transparently on the Belt.fi website.
As stated above, governance consensus may change the burning rate, block emission rate (inflation), and other factors important to deflation.
To participate in the IFO:
- While the sale is live between block 5507530 and 5507540 (5pm — 6pm SGT on Wednesday 10th of March 2021), commit your CAKE-LP tokens to buy BELT tokens at pancakeswap.finance/ifo
- When the sale is complete, claim your BELT tokens and your unspent funds will also be sent back to you.
- Done! In the case of an overflow you can unstake your remaining CAKE-BNB LP tokens.
If you decide to acquire CAKE-BNB LP tokens before the IFO starts, you can stake them here to earn CAKE token rewards while waiting for the sale.
Please note — while you are holding CAKE-BNB LP tokens you will be at risk of Impermanent Loss.
What is the “Overflow” sale method?
TLDR: Basically, the more you put in, the more you will get, and you’ll get back anything that doesn’t get spent.
In the “Overflow” method, users can subscribe as much or as little as they want to the IFO, and their final allocation will be based on the amount of funds they put in as a percentage of all funds put in by other users at the time the sale ends. Users will receive back any leftover funds when they claim their tokens after the sale.
Here are three basic examples to show you what we mean:
Please note — The final USD price per CAKE-BNB LP token will be set a few minutes before the sale starting at block (5pm SGT on Wednesday 10th of March 2021) and will be broadcasted on all channels.
While a few things may be subject to initial change, two things are sure:
- You will need CAKE-BNB LP tokens to participate.
- If the full $3,000,000 USD allocation is raised, then $1,500,000 USD of CAKE tokens will be burned forever.
Project: Belt.fi (BELT)
Contract Address: https://bscscan.com/token/0xE0e514c71282b6f4e823703a39374Cf58dc3eA4f
Disclaimer — All projects are subject to both high market risk and volatility. Please, do your own research and full due diligence before even considering to invest your funds in any project and please, make your investments very cautiously. PancakeSwap will not be held responsible for any investment losses.