Since the launch of the zkSync Era mainnet we have seen projects continuously being launched with new and improved technologies. Today we will come to the project that provides liquidity on zkSync Era, which is DraculaFi. So what is DraculaFi? Let’s find out through the article below.
To better understand what DraculaFi is, people can refer to some of the projects below to get an overview of DraculaFi:
- What is eZKalibaur (SWORD)? eXKalibaur Cryptocurrency Overview
- What is BulletSwap (BLT)? BulletSwap Cryptocurrency Overview
What is DraculaFi?
Overview of DraculaFi
DraculaFi is the DeFi ve(3,3) protocol first built on the zkSync Era network, also known as Solidly forks. The project aims to improve existing ve(3,3) mechanisms by introducing Bribes Bond – a mechanism that helps to refine, reduce token inflation and protocol stability while prioritizing user benefits. use.
The basic understanding of ve(3,3) is that DeFi projects reward users based on the amount and time of locking their Tokens and receiving veTokens.
The DraculaFi difference
- After adding USDC liquidity on Bribes Bond users receive veFANG and 50% of the swap fee is allocated to veFANG holders.
- In addition, users can earn additional transaction fees, bribe fees, and weekly veFANG distribution.
- Bribes Bond plays an important role in increasing rewards, creating a more attractive APR, and limiting FANG token inflation.
- veFANG holders can vote to remove any tokens suspected of malicious activity.
The components that make up DraculaFi
- Liquidity providers: Liquidity providers for projects listed on the platform.
- Trader: Traders who swap tokens and are holders of NFTs to enjoy additional associated rewards of the protocol.
Mechanism of action
- Step 1: Swap to any token on the network and confirm in the wallet.
- Step 2: Then add liquidity to the variety of available tokens.
- Step 3: Users can participate in voting according to many different scales every week.
- Step 4: Lock FANG tokens for a certain period of time (from 1 month to 4 years) to receive veFANG, or via Bribes Bond with USDC to receive a 15% discount.
Development roadmap
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Core Team
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Investor
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Tokenomics
Overview information about FANG token
- Token Name: DraculaFi.
- Ticker: $FANG.
- Blockchain: zkSync Era.
- Token Standard: ERC-20.
- Contract: Updating…
- Token Type: Governance
- Total Supply: Updating…
- Circulating Supply: Updating…
Token Allocations
- Presale: 25% TGE, and 7.5% weekly
- Seed: 15% TGE, and 5% weekly
- Core contributors: 5% TGE, and 5% weekly
- Dracula Grant: 5% TGE, and 5% weekly
- Marketing: 5% TGE, and 5% weekly
Token Release
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Token Usecase
The FANG token has only 2 dedicated functions: providing liquidity and voting on governance of project community decisions.
Exchanges
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Project information channel
Summary
Although still in the testnet stage, DraculaFi’s potential and position are very promising thanks to the application of the ve(3,3) mechanism. Whether the project can repeat the success and market acceptance like Solidly in the past or not, please leave your comments below in the comments section.