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Token Utility
Dfyn’s native utility token, the DFYN token, will perform a crucial role in the functioning of the Dfyn ecosystem. The DFYN token is expected to have multiple utilities:
The holders of the DFYN token will be able to use their tokens to take part in Dfyn’s governance by voting on Dfyn’s proposals concerning protocol amendments and upgrades. Although the specifics in regard to the voting mechanism have not yet been finalized, it is expected that each holder’s votes will be weighed against the amount of DFYN tokens held by them.
A competitive 0.3% fee is charged over each trade taking place over Dfyn. Of this fee, 0.25% is distributed to the liquidity providers in proportion to their contribution to the liquidity pool, while the remaining 0.05% is distributed to Dfyn token holders who have staked their Dfyn tokens in the vDfyn vault.
Last modified 1yr ago