Frequently Ask Questions
1. What is DEFINANCE?
DEFINANCE is a Hybrid and Fully Verified and Audited swap protocol inspired by the previous AMM-based swap protocols such as PancakeSwap, Uniswap and SushiSwap. DEFINANCE introduces a unique strategy which provides much better updates compared to the rest of swap systems. DEFINANCE is run by a community-governance, multichain Token protocol via the DEFIN.
2. What is DEFIN token?
DEFIN token is a native token of DEFince.App in Binance Smartchain to incentivize the stakeholders and earn from the share of the pool. Holding the DEFIN token means holding a share in the governance of the protocol. All DEFIN token holders can vote on the proposals for updates and listings , which new token projects DEFINANCE should support, etc. DEFIN hard-cap is at 100 million tokens.
3. Where to store DEFIN token?
DEFIN token is a Hybrid ERC20/BEP-20 token, therefore you can store DEFIN in any of this wallet that supports Metamask, TrustWallet, Wallet Connect, Coinbase Wallet, and others). Make sure you own a private key/seeding phrase and can access the DEFIN address.
4. What is DEFIN Tokenomics?
Token Name: DEFinance
Token Standard: BEP 20
Blockchain: Binance Smart Chain
Token Supply : 100 Million
Maximum Supply : 100Million
Token Function: Mintable, Burnable
50% of the DEFIN will be burned in a period of 24 Months.
20% of the DEFIN value will be used as an insurance to the Liquidity providers and Stakeholders to insure the assets locked and to maintain the value of the Asset.
30% of the remaining will be divided into the ff:
Liquidity: 35% (30% of the Liquidity in BNB/BUSD will be locked to maintain a healthy pool allocation while 70% will be used to support the DEFIN Token value)
5. Swapping your Asset on Definance?
With DeFinance you will have the ability to swap your cryptocurrency, you will be able to also use your collateralized asset and swap to another currency.
DEFIN Vault is DEFINANCE staking pool, where you can lock (stake) your DEFIN to earn passive income. The Vault will issue you DEFIN Token as an income generated through a portion of fees collected and distributed in the following way:
0.05% from swap fees across all pairs
0.1% from withdrawal fees for LPs withdrawing liquidity from liquidity pools.
1 % from users withdrawing their stake in the Vault.
As fees are collected they are converted to DEFIN and distributed proportionally across holders in the DeFin pool. So when you withdraw your DEFIN back into BUSD/BNB it will be worth more than when you put in. You can stake/unstake in The Vault after the period of locked. But kindly note that there is 1 % exit fee for stakers.
7. How do Holders earn in DEFIN?
DEFIN holders receive passive earnings coming from the volume of trades, swaps and listing and collateralized assets and market conditions based on:
The interest rate coming from deposits- initial deposits and collateral assets will be used by traders who are borrowing and swapping the coins for trading purposes. The compounded interest rate shared by the depositors will be paid by borrowers based on the corresponding to the borrow rate which can vary daily.
Flash Loan fees - depositors receive a share of the Flash Loan fees corresponding to .025% of the Flash Loan volume.
Compounded Asset and Yield coming from each asset which holds its own Market Supply and Demand for the use of currency.
8. How to stake LP tokens to farm DEFIN?
To receive the XDEFIN reward, follow the steps below:
Add Liquidity on DEFINANCE to receive XDEFIN-LP token.
Go to DEFINANCE.APP
Stake your XDEFIN-LP token into the reward contract and start receiving the DEFIN reward.
9. What is the swapping fee on DEFINANCE?
The total swap fee is set at 1%, of which 0.25% goes to Vault, and the remaining 0.35% goes to LP’s and 0.2% goes to Liquidity pool and 0.2%goes to the Company to maintain the stability of the Exchange.
10. How about the Insurance funds?
20% of the token allocation is kept in reserve for Insurance purposes. The Insurance Funds will be spent on Legal and compliance , Buy back of DEFIN backed up liquidity and supporting new token projects by providing liquidity in BNB/ BUS, giving security to all the LP’s that Team is highly capable of maintaining the Exchange’s future.
12. How to use DEFINANCE for voting?
Definance introduces a Community Voting. We are using the fully audited and secured governance mechanisms and financial incentives to our community,Our Vision is to give the community of stakeholders the ability to vote for new coins listing for a healthy ecosystem.
13. How do communities Vote?
Users must initiate an initial collateral or stake an asset to DEFINACE and the user will receive DEFIN TOKEN as the unlocked reward. Now the DEFIN Token can be used to vote for the upcoming coin listing and Tokens used for Voting will trigger a Burn function and will issue a xDEFIN-VOTE reward to the community . The XDEFIN-Vote can now be used and converted into an LP Token , giving the community the power to be a LP just by participating in the Voting round.
14. Yield Farming
DeFinance Yield Farming allows stakeholders to earn more DeFin on their holdings. With yield farming, investors deposit their BNB/ BUSD/ ETH into the Vault to earn interest from trading fees. Earn Higher Yield using DEFIN the Governance protocol.
15. How to stake an asset?
Staking is similar to Mining, though the only difference is that the Highest Stake Holder who holds more DEFIN will get more Rewards. Staking offers stable returns to the investors. Users must initiate an initial collateral or stake an asset to DEFINACE and the user will receive DEFIN TOKEN as the unlocked reward