DFyn is a decentralized data storage platform that has had more than $380 million in the success of its initial coin offering. However, DFyn is facing some regulatory uncertainty and will be changing their token structure for investors.
Dfyn is burning $50 million worth of tokens and changing vesting for investors. The company says that it will be the “uniswap” to bring more liquidity to the market.
Dfyn Exchange, one of the first Polygon-based AMM DEXs, has announced a new tokenomics update for its DFYN tokens, which will see the network burn nearly $50 million worth of the asset.
$DFYN has been 6 months old today!
We’re making some significant tokenomics changes: – https://t.co/8Nkp0M614z
1.) A total of 20% of $DFYN tokens will be burned across all categories. ❤️🔥❤️🔥
2.) The vesting period for Seed and Private Investors will be extended to two years.
November 10, 2021 — Dfyn (@ DFyn)
According to a press statement supplied with us, the adjustment to Dfyn’s tokenomics is intended to benefit the company’s worldwide community while also assisting in the growth and development of the Dfyn ecosystem.
The Dfyn exchange will destroy $50 million worth of tokens.
According to the announcement, there would be a “20% quantity rebase across all categories in our tokenomics.” Because 50 million tokens will be burned across all categories of tokenomics, the effective total supply will drop from 250 million to 200 million. Ecosystem fund, Partners & Advisors, NFT Airdrops, Liquidity Provision Fund, Team, Seed, and Private Sale tokens will all be discounted by 20%.”
The AMM DEX thinks that by implementing this new burning method, it will be able to eliminate around one-third of the network’s current inflation. The token’s value would grow as a result, and it would be able to incentivise its usage in liquidity programs and other expansions into other networks.
Introduces vDFYN as a staking method.
Apart from its rebased tokenomics, Dfyn also stated that its vesting term has been altered, with private investors now having to wait at least two years to retrieve their funds.
The extended vesting periods will also guarantee that the majority of our users and investors are a part of our journey as we establish a cross-chain exchange and introduce the Router Protocol’s XCLP integration to allow cross-chain swaps. As DFYN travels the thrilling arc from promise to possibility, the extended vesting will guarantee that the bulk of our increasing supporting base gets rewarded.
It has just launched vDFYN, a new vault option that has already attracted over 6 million DFYN tokens. Community members may earn protocol fees by staking.
Dfyn now has a total value of nearly $300 million locked up (TVL). It has handled approximately $3 billion in transactions so far. It is also consistently listed among the top DEXs in the world.
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Posted in: DeFi, Exchanges, Technology
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The “dfyn coinmarketcap” is a cryptocurrency that has been created by the company DFY. The company plans to burn $50 million worth of tokens and change vesting for investors.
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