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
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:
Jump Crypto (Lead)
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
Earning protocol revenue: Users who stake REF tokens to earn fees generated by the protocol
Pooling: Users who provide liquidity with any REF token pairs earn swap fee from the associated pool(s)
Farming: Users who stake their LP tokens into different farms, thus earning additional revenue
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
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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