$DeFi Token
This page describes the $DeFi Token and its interactions with the Voting Platform, $Geeks Token, and $Fire Token.
Last updated
This page describes the $DeFi Token and its interactions with the Voting Platform, $Geeks Token, and $Fire Token.
Last updated
The $DeFi token is Geeks Ecosystem's governance token. Initially, the token will be primarily used for peer-reviewing tokens looking to become part of the Ecosystem. In a later phase, $DeFi will govern increasingly larger decisions as the Ecosystem transitions to a full DAO.
$DeFi has an initial supply of two billion tokens, one billion on Base and one billion on BSC. The distribution of these tokens can be seen in the table below:
Presale
There will be no presale for the $DeFi Token.
Pepe4Prez Relaunch Allocation
The tokens allocated for the Pepe4Prez relaunch are allocated to holders who invested in that project back in April 2023 prior to a migration to a blockchain that eventually moved away from prioritizing a digital trading environment, making it no longer an optimal chain for the token. The investors $Pepe4Prez tokens holdings were cut 3:1 and will be honored at that level on both the BSC and Base blockchains. All of the tokens allocated to previous holders will be airdropped, as many of these investors have been a part of the Ecosystem's development for the last 12+ months and will be active participants in governing the Ecosystem.
The $DeFi tokens allocated to the Treasury will be exclusively for voting decisions regarding the Ecosystem. The 20% ownership ensures that at the launch of $DeFi, the Shillitary cannot dominate decisions regarding the ecosystem. Throughout the Ecosystem's evolution, the Shillitary may buy/sell it's $DeFi Tokens to increase/decrease its power over time. When the Ecosystem transitions to a full DAO, 100% of the $DeFi tokens in the Shillitary will be airdropped to participants based on their contributions to the Ecosystem through the Shillitary dApp.
The $DeFi Tax Structure varies based on the liquidity pool. After the first phase of Geeks Ecosystem is complete, $DeFi will be in six liquidity Pools. The tax structure can be seen below.
There are no transfer taxes on the $DeFi Token.
Token holders will use the $DeFi tokens to vote on critical decisions regarding the Ecosystem. Initially this will involve voting on which new tokens will be added to the Ecosystem.
The $DeFi is not mintable except by the cross-chain bridge. These transactions do not increase in the total supply of $HouseHippo.
During the launch phase there will be strict wallet restrictions that will be removed after launch.
The token launch for $DeFi is scheduled for ~2 weeks after the HouseHippo launch. The launch will result in six liquidity pools going live within the first hour. Prior to the launch ETH (undetermined amount) and 20% of Base supply will be placed into a LP on Base. The same value of BNB and 20% of the BSC supply will be placed into a LP on BSC.
A $Geeks : $DeFi LP will be established on both chains at this time. The value of $Geeks tokens added to the pool will be equal to the value of ETH & BNB put into the pools each chain, along with 20% the supply of $DeFi.
A $Fire : $DeFi LP pool will also be established on both chains at this time. The value of $Fire tokens added to the pool will be equal to the value of ETH & BNB on each chain, along with 20% of the supply of $DeFi. The wallet restrictions and taxes will follow the schedule below on both blockchains.
24-Hours Post Launch
Shortly after launch the Wizard bridge will be updated to include $DeFi for cross-chain bridging between Base and BSC.
Once the $DeFi token is launched, the third phase of the Liquidity Web will be established. $DeFi will receive its value on each chain, based on the ratio of $ETH/BNB to $DeFi in the LP pools, as well as the ratios of $Geeks to $DeFi and $Fire to $DeFi. Once the bridge is live, arbitrage will ensure the prices are within ~10% of each other. An additional benefit is that the $DeFi token will not have a single point of failure, as the value is determined by six pools on two chains.
The Smart Contract for the $DeFi Token will be published on GitHub in late August and linked here then.
