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The FinNexus Token - FNX

The FNX token is the network token for the entire suite of FinNexus protocol clusters. It serves a variety of purposes including payment medium, settlement medium, collateral, liquidity mining, and more. In our flagship FinNexus Protocol for Options (FPO) product, its most important role is that of collateral. It is the value from which synthetic options may be generated. As FPO's options are all over-collateralized, the value of the assets in the FPO pool must always be enough to cover outstanding options contracts, and FNX will play a key role in providing that value.

Tokenomics

Items Amount Percentage Status Time to Release/Burn Duration of Release
FNX Maximum Supply 500000000 100.00% - - Set in smart contract
Institutional investors 8333333 1.67% Locked 08/26/20 12 months
Team reserves 25000000 5.00% Locked 05/26/21 30 months
Community rewards fund (liquidity mining and DAO) 350000000 70.00% Locked TBD During periods of liquidity mining
Insurance Pool 25000000 5.00% Locked - -
Operational Reserves 22340567 4.47% Locked 05/26/21 60 months
Future token sales 25000000 5.00% locked TBD TBD
Burnt tokens 30580313 6.12% Burnt Burnt before 2020-08-23 -
Circulation 13745786 2.75% Circulating - -

(Please note that on 21st August 2020, FinNexus moved 1 million $FNX from the Community Rewards Fund (Mining Incentives & DAO) to the Uniswap mining smart contract address, in the mining pool, as stated here.)

Potential FNX Circulation in Three Years:

  • Given that Uniswap liquidity incentives will last for 1 year with 3.6m $FNX as incentive, and

  • Given that FPO liquidity incentives will last for 3 years with 9.6m $FNX / year

We anticipate the evolution of the FNX token supply to look like the following:

Potential FNX Circulation in 3 Years

Potential FNX Circulation in 3 Years

At the end of this theoretical 3-year period, the circulating supply would be less than 90m, or 18% of the maximum $FNX supply.

Differences between old model and current model

The FNX tokenomics were modified on August 25th, 2020 from the original tokenomics published during the token sale. This section is a brief overview of the changes. For a more in depth overview, please see this article from the official FinNexus blog.

The original FNX token distribution plan accompanying our initial offering.The original FNX token distribution plan accompanying our initial offering.

The new community-oriented plan for FNX token distribution.The new community-oriented plan for FNX token distribution.

Community-Oriented FNX Distribution

  1. Maintain the previously announced growth in circulating supply.

  2. Greatly decrease the allocation to team and founding investors.

  3. Establish an ecosystem fund.

  4. Establish an insurance fund.

  5. Decrease the operational reserves and future token sale reserves.

  6. Decrease the circulating supply on the market 3 years hence quite significantly compared with the previous plan for FNX token distribution.