DeFIN Protocol and Governance Token Information Sheet
DeFIN is NOT FOR SALE and is exclusively distributed to RGT Prime members and yield farmers on RGT Finance
First of all, DeFIN will not replace the current eFIN Swap. This next generation liquidity pool aggregator works well, has low fees and has steady traffic. What it does is it pulls liquidity from a dozen centralized exchanges and allows users to get the best price on their crypto asset trade with a single click. This product will continue to be developed and enhanced by RGT.
What is DeFIN?
DeFIN will be a web3 application, running on the Ethereum network. You will be able to connect with MetaMask. It will be an Automated Market Maker (AMM) like Uniswap, but the protocol will focus on what the original eFIN DEX wanted to accomplish. That is, facilitate permissionless cross chain transactions.
How is the DeFIN protocol different from the original eFIN DEX?
The difference between the eFIN DEX (which was a commercial failure) and DeFIN, is that DeFIN will focus on the trade of wrapped non-Ethereum blockchain coins. It will feature a coin wrapping platform, whereby making the trade of any crypto asset seamless through ERC-20 tokenization.
While the original eFIN DEX developed by Derek Capo and his TokenPay company was a great concept, it simply was well ahead of its time and too awkward of a user experience. DeFIN will therefore do cross chain multi-currency transactions, but all on the Ethereum network.
What is the DeFIN governance token?
The DeFIN governance token is for the DAO governing the DeFIN protocol.
- Earns revenues from DeFIN fees, which will be initially 0.30% (same as Uniswap), with 0.25% going to the liquidity provider and 0.05% to the DeFIN treasury.
- Used for buybacks from DeFIN fees and voting in the governance panel.
- Governing and receiving fee revenues from integrated projects such as vaults, lending, derivatives and more.
- The total supply of DeFIN is hard capped at 36000. No more will ever be minted.
- You will be able to stake DeFIN for tokens of other upcoming RGT Finance projects.
How will DeFIN be distributed?
DeFIN token will be a fair launch and distribution, in line with the prevailing DeFi mantra. It is not for initial sale. There are only 36,000 DeFIN tokens and no more can ever be minted. The contract dev keys will be burned upon creation.
20% of DeFIN to be distributed to RGT Prime (Blast Partners)
7200 DeFIN will be distributed to Blast Partners. This is a membership class that was sold by Derek Capo in 2019. The membership has mixed reviews primarily due to the lack of traction eFIN DEX. It simply wasn’t the right product/market fit at the time. RGT, envisioning a unique opportunity to leverage the power of a strong and vibrant community, recently made a deal with Derek and TokenPay and obtained the Blast membership list from him.
Accordingly, we agreed to deliver some exciting benefits for his members, and at no cost. We believe it is a win-win deal for all. We will build our community by offering benefits to members of other communities that simply can use a boost. Blast is the perfect example. It was a great concept, but its core product simply was not embraced and adopted by users as anticipated. We believe that DeFIN will be different.
If you fall into the Blast membership class, you are likely aware that we are offering a free year of RGT Prime to all members. 7200 DeFIN governance tokens will be distributed to members on a proportional basis. Meaning, we cannot yet determine how many tokens each member will receive as it will depend on how many members choose to claim the tokens. It will also depend on your Blast level, as there was Partner and Platinum. In this case, we will reward Platinum 10x the amount of tokens compared to a Partner.
There is no cost at all, but the claim window is limited so please follow updates on Twitter and Telegram. The final list will be compiled and deemed final at some point during October. If you are a Blast Partner, you will be enrolled in RGT Prime for free for 1 year. RGT Prime is not for sale or offered to anybody else at this time. So this is an exclusive benefit.
20% of DeFIN to be distributed to RGT
We will receive 7200 DeFIN tokens, which will be used for corporate purposes and for providing some liquidity in the DeFIN/ETH UNI LP. This also could include selling tokens in the open market. Specifically, we commit to developing the viable product as described and bringing it to market in a timely fashion. Future governance action can replace us as the developer and project manager.
Remember, this is a decentralized protocol and the community of DeFIN token holders is the ultimate protocol beneficiary and decision maker. We do hope to exceed expectations and receive the blessing from DeFIN holders to continue on as project lead indefinitely. But this will be up to the people to decide.
60% of DeFIN to be distributed through yield farming pools on RGT Finance
The majority of the DeFIN tokens, exactly 21600, will be distributed to yield farmers participating in 3 different pools on RGT Finance.
Pool 1: Stake a TBD token to earn DeFIN — 1350 DeFIN available
Pool 2: Stake DeFIN to earn DeFIN — 4050 DeFIN available
Pool 3: Stake DeFIN/ETH UNI LP tokens to earn DeFIN — 16200 DeFIN available
50% of the DeFIN rewards will be mined during the first week. Rewards will halve weekly until exhausted.
Disclaimer
This article does not constitute an offer to sell the DeFIN token. Participation by United States citizens, residents or anybody residing or physically located in the United States or its territories is strictly prohibited.
All or part of this article is not legal, financial, tax or other professional advice, and should not be considered as such. Before deciding to buy or sell the DeFIN token, you should seek independent expert advice. You are responsible for evaluations and decision-making made during your participation.
The DeFIN token is fully functional in its current state and holders of the DeFIN token should not expect it to be further developed by the current community.
The purchaser of the DeFIN tokens should not expect the current community nor anyone else to build or grow the value of the network or the DeFIN token.
The DeFIN token is not intended to constitute securities of any form, units in a business trust, units in a collective investment scheme or any other form of investment in any jurisdiction.
Holders of the DeFIN token should not expect the proceeds from the sale of the DeFIN tokens to be used to further develop the network or the DeFIN token.
The purchaser of the DeFIN token should not expect future functionality of the network or the DeFIN token.
The purchaser of the DeFIN token should not expect potential profitability of the operations of the network, or the potential appreciation in the value of the DeFIN token. The purchaser of the DeFIN token should not expect the availability of a market for the trading of the DeFIN token.
To the maximum permitted by law, we are not responsible for any liability arising from the adverse effects or consequences of the DeFIN token.
This article describes our current plans for the DeFIN platform. While we aim to realize this, please recognize that it is dependent on quite a number of factors. We do not guarantee, represent or warrant any of the statements in this article.
