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Tokenomics
Information about our Governance token, REF

General Information

REF is a Governance token that also rewards its holders with a protocol revenue sharing model.
  • Token name: Ref Finance
  • Ticker: REF
  • Fungible Token Contract: token.v2.ref-finance.near
  • Fungible Token Standard: NEP-141
  • Fixed Supply: 100,000,000
  • IDO: 2,500,000 auctioned via Skyward Finance (July 26–31, 2021)

Token Allocation

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Categories
Allocation
Release Schedule
Liquidity Incentives
60%
Year 1: 25%
Year 2: 18.3%
Year 3: 11.7%
Year 4: 5%
Treasury
20%
N/A
Development Fund
10%
4-year linear release
Early Users Airdrop
1%
3-month vesting with 3-month cliff
Future Airdrop(s)
2%
TBD
IDO (Skyward Auction)
2.5%
1-week auction
REF Token Liquidity Provisions
2.5%
N/A
Strategic Airdrop
2%
N/A

Private Fundraising

In March 2022, Ref Finance has closed a strategic Over-the-Counter (OTC) deal with professional investors as well as business angels.
Professional investors are:
The objective of the fundraising is to support and cover the development cost of the solution for at least 24 months, starting from March 2022.
The total amount raised was $4.5m in stablecoins in exchange for 3,664,943 REF tokens, leading to an average price of 1.227 REF per stable.
The stablecoins breakdown is as follows:
  • $3.6m USDC
  • $0.9m USDT

Terms

  • Price: 7-day market Time-weighted Average Price (TWAP) at a 20% discount
  • Lockup: 1-year linear release every quarter
More details can be found in the Ref governance forum.

Token Utility

  1. 1.
    Earning protocol revenue: Users who stake REF tokens to earn fees generated by the protocol
  2. 2.
    Pooling: Users who provide liquidity with any REF token pairs earn swap fee from the associated pool(s)
  3. 3.
    Farming: Users who stake their LP tokens into different farms, thus earning additional revenue
  4. 4.
    Boosted farming: Users who lock their LP tokens into the REF<>NEAR pool can get LOVE tokens, which can be staked to unlock extra rewards for multiple farms
  5. 5.
    Governance: Users who lock their LP tokens into the REF<>NEAR pool can get veTokens, which can be used to vote on governance proposals and on the allocation of liquidity incentives
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