AvaxFi Platform will use its native cryptocurrency token AVFI for the platform's governance and for incentivizing users to lend and borrow on the platform. AVFI Tokens will be based on ERC-20 token standard and can be transferred to other DeFi platforms. The tokens can also be used for staking and trading. The platform will encourage wide adaptation of its AVFI in all DeFi and CeFi (centralized finance such as "Binance", "Kraken", etc.) platforms with projects such as launch polls, generous staking rates, and partnerships.
AVFI will have a capped supply of 800 million, half of which will be created and distributed during the launch of AvaxFi platform. The remaining tokens are to be generated by the minting process in the form of staking rewards. AVFI tokens will be supported by a treasury.
When an AVFI passes a specific price, new tokens will be minted and converted into WBTC, WETH, and some stablecoins. These coins will be kept in staking pools or in a separate area, or even in a separate DeFi protocol. They will be used to support the price of AVFI in case it drops too low. The treasury will be used to buy back all the AVFI under that specific price. Apart from Treasury support, the coins will be burned to support a healthy price level for the AVFI.
All-time highs of other assets