$FAY Tokenomics
🧚♀️A New Chapter: Reimbursing the Community and Reigniting the Magic
$FAY Token Address:
$FAY Basic Information
FairySwap is a 100% community-driven, fair-launch initiative, featuring the FAY token and a mining-focused token distribution model.
$FAY Economics Model and Mining Rules
We’re excited to share with our community the launch of FairySwap v2, together with the new governance token, $FAY, and a revamped platform designed to provide a more secure and seamless user experience. The new version features an upgraded smart contract and a new tokenomics model. The FAY token will replace the original FAIRY token, and we’re committed to making the transition as smooth as possible for our users.
In the FAY tokenomics, 73% will be allocated to liquidity farming, with the remaining percentage allocated to team shares, marketing efforts, and airdrop reserves. We believe this distribution will further empower our community with democratic finance, while also ensuring the continued growth and success of the FairySwap platform. Overall, we’re excited to introduce these changes and remain committed to providing a secure and user-friendly platform for our community.
Token Distribution
Migration from V1
10%
5,000,000
10% or 5,000,000 $FAY will be used to migrate existing $FAIRY tokens to the new $FAY tokens.
Contributors’ Reserve
5%
2,500,000
5% or 2,500,000 $FAY will be reserved for the contributors’ team (including ambassadors and community contributors), with a monthly unlock at a 2-year linear vesting schedule.
11%
5,500,000
11% or 5,500,000 $FAY will be used to reimburse the impacted liquidity providers for the original $FAIRY / $FRA pools.
1%
500,000
1% or 500,000 $FAY will be reserved for various marketing and community initiatives.
Liquidity farming
73%
36,500,000
73% or 36,500,000 $FAY will be released in a 2-year vesting schedule, with 9,125,000 $FAY being unlocked at TGE, T+60, T+180, and T+360.
Total
100%
50,000,000
$FAY Mining Rules
Mining rules:
73% of $FAY tokens will be distributed to LP liquidity mining
Your mining rewards = ($your staked tokens / $total staked tokens in the pool) * Daily FAY rewards of the pool
The daily outputs for TGE + 60 is as follows:
FRA/FAY
4
60,833.33
FRA/ETH
2
30,416.67
FRA/USDT.e
1
15,208.33
FRA/BUSD.b
1
15,208.33
FRA/BNB
2
30,416.67
$FAY Token Utility
FAY, the new governance token of FairySwap (V2), offers several utilities for its holders.
Firstly, FAY holders will have the ability to participate in the governance of the FairySwap platform. They can vote on proposals and decisions that impact the platform's development and growth, helping to steer the direction of the ecosystem in a more democratic and decentralized way.
In addition to governance, FAY also offers utility for liquidity providers on the platform. As the majority of the token distribution is allocated to liquidity farming, FAY holders can earn rewards for staking their tokens in eligible liquidity pools. The daily rewards for these pools are distributed based on the total amount of tokens staked in the pool, meaning that users can earn a proportional share of the rewards based on their contribution.
Additionally, as FAY is required for liquidity farming, it incentivizes users to provide liquidity on the platform, which can help to increase trading volume and reduce slippage.
Overall, FAY's utility as a governance token, liquidity farming rewards make it a valuable asset for users of the FairySwap platform. As the platform continues to evolve and grow, the importance of FAY in shaping its future and incentivizing participation will only increase.
Last updated
