Tokens
CHICKEN
Contract: 0x429D04D02eFB32b213D4D5b372DF733D0d533341
The CHICKEN token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain CHICKEN's peg to 1 Fantom (FTM) token in the long run. Initial supply will be 43,000. 1000 CHICKEN will be allocated to various community incentive programs, and 42,000 CHICKEN will be allocated to the Genesis pool rewards
Note that CHICKEN actively pegs via the algorithm, it does not mean it will be valued at 1 FTM all times as it is not collaterized . CHICKEN is not to be confused for a crypto or fiat-backed stablecoin.
EGG
Contract: 0xef2BF0732637cC8FBCb97F84515D8cC6768AEcdc
EGGs are one of the ways to measure the value of the MyChickenFarm Protocol and shareholder trust in its ability to consistently maintain CHICKEN close to peg. During epoch expansions the protocol mints CHICKEN and distributes it proportionally to all EGG holders who have staked their tokens in the Hatchery (boardroom).
EGG has a maximum total supply of 10,001 tokens distributed as follows:
Treasury/DAO Allocation: 500 EGGs vested linearly over 12 months
Team Allocation: 500 EGGs vested linearly over 12 months
Rewards: 9000 EGGs are allocated for incentivizing liquidity providers in two farming pools for 12 months
Initial mint: 1 EGG minted upon contract creation for the initial pool
You will need EGGs to hatch (mint) our NFTs, which will offer long-term utility within our gaming ecosystem
CBOND - CHICKEN Bonds
Contract: 0x7BB43028DAbA56773861fBb71Bab114befD79972
The main purpose of CHICKEN Bonds (CBOND) is to help incentivize changes in CHICKEN supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of CHICKEN falls below 1 FTM, CBONDs are issued and can be bought with CHICKEN at the current price. Exchanging CHICKEN for CBOND burns CHICKEN tokens, taking them out of circulation (deflation) and helping to get the price back up to peg. These CBOND can be redeemed for CHICKEN when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for CHICKEN when it is above peg, helping to push it back toward the 1 CHICKEN to 1 FTM.
Unlike early algorithmic protocols, CBONDs do not have expiration dates.
All CBOND holders will be able to redeem their CBOND for CHICKEN tokens as long as the treasury has a positive CHICKEN balance, which typically happens when the protocol is in epoch expansion periods.
Last updated
