Firebank in decentralized finance.
As innovation move towards the future and many people jump in for the opportunity, Firebank will be part of it in a rising economy of decentralized finance.
It’s a project designed for deflation yield farming. The token assets we use is not inflationary crypto currency. Aside from proposing token asset for scarcity, we will introduce locking of asset by staking LP tokens in liquidity pool.
Why Deflationary?
"Deflation Yield Farming" is very popular nowadays, FireBank finance will be among them.
Token as deflationary will be as good as how would exploit the unnecessary burns.
One way is by forcing constant trading pressure and constant burn. That’s why yield farming of Fire Bank Finance will be great.
Token Feature
Total supply of Firebank (FRK) tokens is 3,000. It has burn rate of 1% on every transactions. It is designed for deflation yield farming. The contract got no mint functions — means we can’t create or increase the token supply. This is a good sign where no one can exploit the hack of minting — where one user can create infinite tokens to sold out the market.
Tokenomics and Presale
- Total supply is 3,000 FRK
- Allocated for presale is 2,000
- Liquidity will be 800 in total
- Development is 100
- Marketing is 100
To buy FRK tokens, send eth here:
0x9C733DC4Df5AB5e3b021b5a03F8778AfA057605E
• 80 ETH to be raised (Hardcap)
Remember:
• Min cap is 0.1 ETH
• Max cap is 10 ETH
• 1 ETH = 25 FRK Tokens (~15 each)
* Uniswap listing immediately after reaching 80 ETH. Estimate price would be ~x3.
- Liquidity will be locked
Pool Function
Firebank (FRK) tokens will be pooled in Uniswap Dex. Main liquidity will be locked.
We will inject new batch of liquidity so we can extract the LP Token (in a form of UNI-V2).
We will create a new pool in Balancer, where ETH will be dominant. It will be like this: ETH/UNI-V2 or ETH/(ETH/FRK). This will help to create more impact in terms of price, transactions and burns.
Relation of Uniswap and Balancer to our Project
The usecase of the project is mainly to get the more interest in staking and lending LP tokens. It is for “deflation yield farming”.
Uniswap will be the main market of FRK, where traders will buy and sell tokens.
Balancer will act our pool, since we will create our own pool. It will hasten the burns leading to scarcity of supply. It will balance the trades and it will force the pressure in trades and burns.
So staking LP Token is profitable, for early stakers — it has been observed that higher rates occur, but we will limit to the APY of 200%.
Steps in Farming
It is a simple concept of a Deflationary yield farming project.
- Buy FRK on Uniswap
- Check your wallet address and copy the contract address of the UNI-V2. (That is your LP Token)
- Stake your UNI-V2 on our Balancer pool. (Click activate)
STAKING TIERS (NFT)
We will create our own NFT, it is really specialized in our project.
Term Firebank is excerpted in “Fire” where the tokens are actually deflationary and “Bank” where you store your tokens through staking or holding it to wallet.
The token will be low supply (much lower to FRK), it is also deflationary — means it burns on every transactions.
NFT on Yield Farming
Upon listing of FRK to Uniswap, FRK will be paired to ETH= FRK/ETH.
Our NFT is not named yet, it will be like this.
NFT/FRK = it will only paired to FRK and not in ETH or any stable coins.
In order to get NFT is to stake your LP Token (ETH/FRK=UNI-V2) on Balancer. Each time someone making a trade in Uniswap and Balancer, you will earn ETH, FRK and NFT. Upon receiving the NFT, you can swap it to FRK and then to ETH. Making more transactions feasible for the yield farmers.
The scheme will be like this.
- Uniswap: FRK/ETH and FRK/NFT
- Balancer: ETH/(FRK/ETH)/NFT
Through the help of Balancer, we can receive each pool by staking LP Token and activate each tiers.
Future of Firebank
Deflation yield farming is very profitable on the long run. Aside from normal pool, NFT will be added.
We will call the relation of FRK to the NFT concept is “Money Heist”.
Stake now, get more NFT and Rob the bank.
