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.
|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|
|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||-|
(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:
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 new community-oriented plan for FNX token distribution.
Community-Oriented FNX Distribution¶
Maintain the previously announced growth in circulating supply.
Greatly decrease the allocation to team and founding investors.
Establish an ecosystem fund.
Establish an insurance fund.
Decrease the operational reserves and future token sale reserves.
Decrease the circulating supply on the market 3 years hence quite significantly compared with the previous plan for FNX token distribution.