I believe that you guys have participated in a lot of DAOs recently, 99.9% of which may have died. Every token holder hoped that the token price would continue to rise, but unfortunately they eventually went to ZERO.
FoxDAO is changing it.
We don't want $FOX to become a MEME token like other DAOs or turn out a fake centralized DAO. An excellent tokenomics will determine its success or failure.
Therefore, we have created an interesting tokenomics for $FOX tokens. We referred to the excellent token economic models and contracts in DEFI (such as CURVE, Liquity and Olympusdao) to ensure the health and stability of FoxDAO.
People can stake $FOX tokens in this pool and get xFOX token. Your rewards will grow wildly under compound interest.
Stakers can withdraw at any time, but we have set a 7-day lockup period.
This feature is available on 2022-01-07.
as collateral in stablecoin protocol
vote for FoxDAO
captures more value of FoxDAO
xFOX holders can use this protocol to mint/borrow a stablecoin pegged to 1 USD with 0% interest to release the capital utilization of $FOX. In addition, users can continue to get $FOX rewards under this protocol.
The whales are no longer selling their Ethereum or Bitcoin. They only need to stake their assets and borrow enough stablecoins to meet any financial needs.
This is exactly the infrastructure we designed and built for all $FOX holders!
Inspired by the Olympus mechanism, we have created a consensus with more growth value.
The purpose of Stake (Vesting) is to reward holders who recognize our value system for a long time. Especially in the early stage, it can reduce the selling pressure to a certain extent.
When stablecoin protocol is launched, xFOX holders can mint/borrow stablecoin via staking their xFOX. People can use stablecoin for investment and financial needs without the need to sell their FOX.
With the development of community consensus, the vast majority of holders will start to understand (3🦊, 3🦊, 3🦊) theory and follow this router to use our protocols, and the price of $FOX will continue to rise steadily.
As the price of $FOX rises, the TCR of the stablecoin protocol will keep increasing, and stakers can borrow more stablecoins.
This is an interesting experiment. Maybe a few months later, everyone will be discussing an incredible community. They will ask why people there do not sell their tokens.