Tokenomics: A Dual Token Ecosystem
Last updated
Last updated
Its maximum supply is 21,000,000. From those initial tokens, FireBot SaaS users received 1% as an airdrop, and 5.5% was distributed to selected contributors to form the DAO's treasury that has since then been following our strategy. FireBot NFT holders received 6.5% over the first year while burning about 1.6M tokens playing a blockchain game that is now over. The DAO kept 5% to bootstrap liquidity pools and offer grants for promoters and liquidity providers. Finally 10% are reserved for the team and will progressively unlock over time. The team also receives the fees generated by the part of the treasury placed on the algorithmic solution: 6% of daily benefits (0% when performance is negative).
All non-distributed tokens and the remaining of the team's allocation are locked in the emission contract.
The only way to unlock FBX is to acquire and stake Elemental Particles, our Proof-Of-Burn tokens. Anyone can create (mint) new EP tokens by burning FBX at 300 FBX per EP.
Each day, the contract emits 1/1336th of the remaining locked FBX. Like Bitcoin, which goes through a halving every four years, the emission contract will release fewer tokens over time.
Every day, the owners of the EP tokens staked in the contract will share the newly emitted tokens.
These mechanisms ensure a decreasing inflation for the FBX token as the contract distributes fewer tokens every day. Additionally, a regular burn reduces the existing supply as users compete to get the highest share of the emission by burning FBX to acquire and stake more EPs.
According to game theory, users will try to maximize their earnings. Therefore, as minting EPs guarantees passive revenue for life, users will burn their FBX to acquire a more significant share of the FBX emission. However, as the FBX distributed per day is not extensible and decreases over time, the quantity of FBX emitted per EP decreases when users create more EPs.