3Fi
Token details.
Name: 3Fi
Type: SafeERC-20.
Hard Cap: 3,333,333,333.
Overview.
3Fi tokens collectively represent speculative ownership of all Grove held assets (those assets controlled by the Holding Contract). Individually, they represent fractional ownership; tracked as the amalgamated average market value of all PHAs (with or without any market applied premium or discount).
Purpose.
3Fi tokens serve to represent and give voice to the assets held within the Grove's Holding Contract. While being 3's core governance token, they are designed to be service driven; meaning they have much control, but no explicit right to any protocol derived revenue.
'To assume they (3Fi tokens) are without advantage would be short sighted... To best understand the value of 3Fi tokens, one ought to reflect upon it (3Fi tokens), as (collectively) representing the mind (or will) of an individual who's portfolio IS the Holding Contract.'
Benefits.
There are several clear and current opportunities that exist for 3Fi token holders, these have been listed below and more will undoubtably be added as the project matures.
Speculative growth opportunities:
Guild asset accumulation better defines (and diversifies), PHA valuation averages,
Grove compound activity increases its asset base, impacting PHA valuations,
Market movements directly impact PHA valuations,
Market applied premiums or discounts directly impact PHA valuations,
Revenue control and VW3 tokens:
3Fi tokens have exclusive right to VW3 token accrual and use.
VW3 tokens represent vote weight, used to direct 3's surplus revenue.
VW3 tokens are exclusively accepted by 3's Arb.Engines, which determines asset weight. (An assets weight within the Arb. Master Node impacts their share of 3Bond capital).
New market opportunities:
3Fi token utility establishes the opportunity to be included in 3rd party vote markets that may yield opportunities for 3Fi token holders.
Arb. Fees collected are exclusively accumulated by the Holding Contract, resulting in GUILD accrual for 3Fi token holders. (This leads to Grove held 3bonds and Legends, each yielding their own derived revenue opportunities for 3Fi token holders).
Issuance.
Stage 2.
3Fi tokens were pre-minted to accommodate Stage 2 activity. 3,333,333 tokens were pre-minted (~0.001% of max supply).
Stage 3 and beyond.
Post deployment of Stage 3, 3Fi tokens will be minted on demand and in accordance with their (the 3Fi token) distribution curve, whenever GUILD is issued.
3Fi tokens will continue to be minted in the aforementioned manner until its Hard Cap is reached.
GUILD issuance.
There are only two sources to mint GUILD.
GuildSwaps FARM and,
Activity in either of the above two PSUs result in GUILD issuance; triggering a 3Fi token allocation. 3Fi token allocations are transferred to the participants connected wallet on successfully completing the activity in either of the above listed PSUs.
As 3Fi token allocations have a direct relationship to GUILD issuances, studying the GUILD token is highly recommended.
Distribution curve.
The 3Fi token distribution curve is designed to favour early participants. 3Fi token allocations are aligned with the Grove's value accrual efforts.
Issuance vs. value accrual.
The above chart describes how 3Fi tokens are issued, based on the total outstanding GUILD balance.
Key metrics:
Time is not a factor in this model.
The rate of 3Fi allocated per GUILD issued diminishes as the total number of outstanding GUILD approaches a threshold value.
The GUILD threshold is 33 billion GUILD issued.
50% of 3Fi tokens will be allocated when 10% of the GUILD threshold is reached.
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