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🏅Tokens

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Tokens Overview

Fang Finance utilizes a multi-token system designed to maintain the $FANG peg to $ETH and provide the best yield and stability mechanisms within the ecosystem. The primary tokens in our protocol are $FANG & $gFANG.

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$FANG Token

$FANG is the primary yield token of the Fang Finance protocol, designed to act as a medium of exchange. Its built-in stability mechanism aims to maintain a peg of 1 $ETH in the long run.

Key Details:

  • Initial Mint: 50 $FANG were minted upon contract creation for initial liquidity, and 750,000 $FANG were allocated for genesis rewards.

  • Peg Mechanism: $FANG pegs to $ETH through an algorithm, not collateralization.

  • Tokenomics: Supply of $FANG is increased when above peg, and maintained when below peg. The supply is, in theory, unlimited; but supply expansion rates are dependent on the revenue generated by the Fang Treasury. This way all newly minted $FANG is always 100% backed by $ETH in the Fang Treasury.

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Note that FANG actively pegs via the algorithm, it does not mean it will be valued at 1.01 $ETH at all times. FANG is not to be confused for a crypto or fiat-backed stablecoin.

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$gFANG Token

$gFANG represents protocol ownership.. It also acts as a share token that reflects confidence in the protocol’s ability to maintain $FANG at its peg, as well as the strength of SuperNovaincentives/voting system.

Key Details:

  • Initial Mint: 1,000 $gFANG were minted upon contract creation for initial liquidity w/ 50,000 $USDC worth of $ETH, and 59,000 $gFANG allocated towards liquidity rewards.

  • Tokenomics: 59,000 $gFANG for liquidity rewards over 2 years linearly; 10,000 $gFANG to the Team also linearly over 2 years.

  • Epoch Expansions: During expansion epochs, $FANG is minted based on generated revenue and distributed to $gFANG holders who have staked in The Nest.

  • Governance: Holders of $gFANG have voting rights and can participate in protocol governance, shaping its future development.

  • Bootstrapping Epoch: The initial Nest prints are guaranteed during the first 3 days (12 epochs).

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