Friction Finance
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xTao
What if we said, triple yield with no mints?
Short Description
xTAO is the governing currency (DAO) for Friction.Finance. xTAO is deflationary by nature, has no mint functionality, and a total fixed supply of 25,000,000. xTAO is unique in many ways, first and foremost, xTAO has automated re-distribution mechanisms that distributes 3% of every transaction to all holders proportionately and automatically after every transaction. This means that by just holding xTAO you will gain more xTAO in your wallet without having to stake or approve a single transaction. For those users who want to participate in farms and pools, don't worry, there are still additional incentives for that.
Do I need to claim these distributed tokens?
No. The tokens will just show up in your wallet after each transaction.
Tokenomics
Total Supply: 25,000,000 xTAO
xTAO Per Block: Dynamic emissions, no tokens are ever minted.
Fair Launch: No ICO, no pre-sale, no private investors
Initial Distribution: 6.25m xTAO (25%) was sent to the TAO migrator contract. These tokens are locked in the contract and cannot be removed by developers. 1.25m xTAO (5%) was sent to the BSC burn address to kick start the xTAO automated burn process. 1.75m xTAO (7%) sent to LOCKED ecosystem fund that will be ran by community multi-sig. These funds are locked until June 12th, after June 12th they will be sent to multi-sig. The remaining 15.75m xTAO (63%) was sent to the locked staking contract to reward xTAO liquidity providers via farming.
Last modified 1yr ago
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