Tokens
Last updated
Last updated
FI is the iob.fi DAO governance token. It has no preset initial par value. Today FI is used for voting on proposals of all business aspects of iob.fi. FI will be used as a native token for the Prodefy technology platform in Phase 2. FI holders will be given control of the iob.fi ecosystem in Phase 3 of the iob.fi product launch.
FI aligns incentives in the iob.fi DAO for value creation and economic growth. By linking demand for services to FI, the iob.fi DAO is able to benefit from the success of the products and services it provides. FI holders can also have a direct say in the evolution of the network by participating in governance.
48.5% of the initial FI token supply is reserved for IOB holders. IOB holders have funded all of the operational expenses and investments made by IOB LLC.
25% of FI tokens are initially allocated to founding members, core contributors, advisors, and partners, all subject to vesting periods.
5% of tokens are allocated for the Prodefy Ecosystem Fund. This fund will be deployed to attract and incentivize strategic partners that will help the Balancer ecosystem grow and thrive. FI holders will ultimately decide how this fund is used over the coming years.
Up to 12% of tokens are intended to be mostly distributed to iob.fi fund investors in the coming years.
By holding FI you can benefit from any potential increase in the value of the iob.fi and its related products and services.
FI token initial liquidity on Uniswap was 1 FI=5 ETH, funded by the iob.fi team. The initial liquidity is locked for no less than 12 months. iob.fi plans to add liquidity over time, and will never remove it.
Please double-check the FI token address is 0xf03d05ed4cf4e723c04500ab64281bfa591968f2 to verify that you are interacting with the official FI token.
IOB was created in October 2017. The IOB LLC and iob.fi business are entirely funded by the funds from the sale of IOB tokens, along with some successful and failed investments in cryptocurrency projects.
IOB holders have the right to convert their IOB into FI. Each conversion event is unique. Conversions are proposed by iob.fi core members initially and are determined by the majority voting power approval of the IOB holders on the iob.fi DAO.
Important policy proposals such as token conversion price and available batch amount are made by the designated core member during Phase 1 and 2 of iob.fi DAO deployment. After a certain amount of IOB tokens are burnt, in Phase 3 the entire IOB token control will be given to the IOB holders.
Not likely.
First of all, only the current IOB holders can vote on matters concerning IOB to FI conversion. Secondly, the conversion mechanism is so designed that the IOB holders ARE the majority of the FI holders for a foreseeable future.
In the beginning, iob.fi DAO core members act as a 'central bank' that controls and balances the FI 'money' supply. If we do things sensibly, we will not flood the market with an excess of FI token supply that will ruin the token economics and the price of FI in the open market. For a period after FI's creation, only IOB holders are FI token suppliers.
Eventually, the role of the 'central bank' will be given to the entire community, no longer in the hands of the core members.
IOB holders are entitled to receive dividends from iob.fi business activities while FI is not.
Once the required voting majority has approved the token conversion on iob.fi DAO and the conversion event is enacted, all IOB holders can then clicking on "Token Request" to make the exchange.
They are yours to keep and are exchangeable to IOB tokens.
The converted IOB tokens are considered as Redeemed and will be permanently burnt.
Yes. IOB holders can wrap their IOB temporarily into wIOB on iob.fi. The wIOB tokens can then participate in voting on all proposals in the iob.fi DAO.
Over 1,100 unique addresses hold a total of 11,603,244 outstanding tokens.
Token distribution
%
Vesting
IOB holders
48.50%
4,834.48
Conversions subject to DAO voting approval
Core contributors
25.00%
2,492.00
Must be vested and subject to DAO voting approval
Prodefy Ecosystem
5.00%
498.40
Subject to DAO voting approval
Private sale 1
2.00%
199.36
Must be vested and subject to DAO voting approval
Airdrop sweepstakes
1.00%
99.68
Subject to DAO voting approval
IEO/CEX listing
5.00%
498.40
DAO voting approval
Staking rewards
12.00%
1,196.16
Subject to DAO voting approval
Reserve
1.50%
149.52
N/A
Total
100.00%
9,968.00
