3Fi tokens
Governance level: Creditor.
Last updated
Governance level: Creditor.
Last updated
Name: 3Fi
Address:
Type: SafeERC20.
Hard Cap: 3,333,333,333.
- - .
Fractal ownership of protocol holdings.
Minted and issued by The Guild during asset distribution and contribution events. 3Fi tokens are early adopter distribution receipts and represent a share of those assets accumulated, compound and acquire by The Guild and 3.finance protocols.
3Fi tokens are minted exclusively by The Guild via two mechanisms:
Guild Swaps:
Delivery state/events.
Distribution state/events.
Guild Bonds: details will be added in due course.
Imposed upon the distribution curve as a means to pause progress during the projects rollout and maturity phases. These impositions exists for safety and security reasons and control of tranches will transition from the team multi-sig to community governance from tranche 11.
Tranches 1 - 10
Tranche 1. 3,333,333 (3Fi) tokens and the equivalent number of GUILD tokens, based upon 3Fi's distribution curve will be made available to Swaps exclusively.
Tranches 2-10. 10,000,000 (3Fi) tokens and the equivalent number of GUILD tokens, based upon 3Fi's distribution curve will be made available to Swaps exclusively.
Tranches 1-10 are hard stops, meaning they require assistance by the team multi-sig in order to progress to the next tranche. During each transition the team multi-sig will be able to:
Mint 3Fi tokens from the 3Fi token contract.
Send 3Fi tokens to whitelisted addresses, namely: Swaps and Bond contracts.
Mint GUILD tokens from the GUILD token contract.
Send GUILD to whitelisted addresses, namely: Swaps and Bond contracts.
Tranches 11 onwards
3Fi tokens and GUILD tokens will be minted as required by the Swaps and Bond contracts.
Swaps will transition states: from Delivery to Distribution.
Tranches will continue to persist at intervals of 100,000,000 (one hundred million) 3Fi tokens until all 3Fi tokens have been distributed. However:
Tranche 12 onwards will only enforce a hard stop if the community fails to achieve consensus before the previous tranche limits are reached.
A stop majority will halt the distribution of 3Fi tokens but not GUILD tokens. Meaning Swaps and Bond products transition from Distribution to Acquisition states.
No majority above quorum will halt the distribution of 3Fi tokens but not GUILD tokens. Meaning Swaps and Bond products transition from Distribution to Acquisition states.
A go majority will enable the distribution of 3Fi tokens to continue into the next tranche.
3Fi token allocations are always on a first come first served basis (FCFS).
Key facts about 3Fi token distribution:
There is no time component with respect to the tokens distribution.
Distribution is entirely based upon GUILD token issuances.
At full distribution, exactly 33 billion GUILD will have been issued.
Meaning; the Holding Contract will have received approximately 33 billion in assets.
An arbitrage product offering by The Guild. Swaps offers RePeg prices to select wrapped assets that are off-peg.
Swaps has been built to accommodate 2 main states (modes), however while the product is rolled out, a third state will be present. State's, akin to human frames of mind, are used to encourage 3Fi token distribution and re-distribution when Swaps is in a state of 'Distribution' and manage GUILD token issuances when Swaps is in a state of 'Acquisition'.
The three states are as follows:
The period where 3.finance delivers modules 1–3.
At this time, GUILD and 3Fi token issuances/distributions respectfully, will be strictly guarded by predefined tranches and follow ‘Distribution’ state parameters.
View details of each tranche here.
Any period where 3Fi tokens are or become available to the Swaps contract.
At these times, GUILDs are issued at a fixed ratio of 1 GUILD for every 1 USD worth of asset contributed irrespective of the GUILDs’ secondary market value. 3Fi tokens are distributed (alongside GUILD), according to their own distribution curve which is itself based upon the total number of outstanding GUILD tokens.
Using Guild Swaps.
$1,000 USD worth of sdCRV are swapped via Guild Swaps.
1,000 GUILD minted and received by the connected wallet at a rate of 1 GUILD per $1 USD of asset contributed, at the time of the swap. And;
Using Guild Bonds. Details will be added in due course.
This state does not effect 3Fi token distribution.
(Guild Bonds, details will be posted here prior to product release).
Governance rights.
3Fi tokens receive a vote weight, to be applied against any proposal impacting the state of the Holding Contract. Examples:
Swaps - adding, suspending, removing assets.
Bonds - targeted asset swap weights.
3Fi tokens receive a vote weight, to direct excess revenue towards 'distribution buckets'.
Compositions.
3Fi tokens are not yet composable.
Settlements.
3Fi tokens will become convertible; receiving a pro-rata share of Holding Contract assets during periods when the following conditions are satisfied:
3Fi tokens have been fully distributed, and;
When GUILD tokens are fully backed by the Reserve Contract,
When the above conditions are no longer satisfied, convertibility is suspended until the conditions are again satisfied.
The token has a hard cap of 3,333,333,333 tokens, with an inflation rate based upon a series of and distribution curve that is defined by the total number of GUILD outstanding.
To learn more, you may wish to read our published article on .
An allocation of 3Fi tokens made claimable to the connected wallet address. (The size of the allocation is determined by the 3Fi token ).
