Tokens

FI Token

What is FI?

FI token logo

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.

Why does iob.fi DAO need FI?

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.

What is the FI token structure?

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.

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

Do I get any additional benefits for holding FI over the long term?

By holding FI you can benefit from any potential increase in the value of the iob.fi and its related products and services.

Where to buy FI token?

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 Token

What is IOB?

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.

What is the exchange rate between IOB and FI tokens?

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.

Since IOB holders only control 48.5% of FI tokens, will the FI holders out-vote IOB holders on important matters, including IOB to FI conversions?

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.

What is the difference between IOB and FI?

IOB holders are entitled to receive dividends from iob.fi business activities while FI is not.

Where and how can I exchange my IOB to FI?

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.

What will happen to IOB Power points on SiP?

They are yours to keep and are exchangeable to IOB tokens.

What will happen to the IOB tokens that were converted into FI?

The converted IOB tokens are considered as Redeemed and will be permanently burnt.

Can IOB holders vote on iob.fi DAO?

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.

Who holds IOB?

Over 1,100 unique addresses hold a total of 11,603,244 outstanding tokens.