A Deflationary Token Called $FURY
The $FURY token is Fanfury's ecosystem token and is used for contest participation, rake collection & distribution, staking, liquidity, and governance.
$FURY For Contest Participation
The $FURY token will be used to take part in contests on the app. All contest entries will be paid for in $FURY, held by the platform in $UST, and paid out using $FURY
2% of all contest prize pools collected is burned.
Fanfury burns 40% of the Rake Fee collected by the platform in $FURY and held in $UST, from every contest pool.
2% of every betting pool is permanently removed from the network by burning the equivalent amount of $FURY tokens, at the time of reward distribution.
When the price of $FURY is high, the rate of burn declines, leading to market stabilization, helping bettors predict potential winnings effectively
When the price of $FURY is low, the burn rate accelerates. This mitigates inflation and creates a self-balancing system where price declines are temporary.
Rake Fee Distribution
$FURY For Rake Fee Distribution
$FURY tokens are used to pay out 50% of the Rake Fees to both Staker and Liquidity Providers
- Stakers are entitled to 25% of the staking rewards generated
- 80% of the daily staking rewards are paid out to all stakers according to the amount of $FURY staked
- 19% of the daily staking rewards are paid out to the staking in the top staking pool
- 1% is of the daily staking pool is reserved for the owner of the top staking pool
- Liquidity Providers are entitled to 25% of the daily staking rewards
- Rewards to Liquidity Providers will help with mitigating Impermanent Loss
- Rewards to Liquidity Providers are sustainable as they come from Rake Fees
- Staking of $FURY-UST LP Tokens to earn additional rewards