Get your answers regarding DEFI100-Rebase, a synthetic asset based on the DeFi index by Wrapp3d.
What is DEFI100-Rebase?
DEFI100-Rebase is an elastic supply synthetic index token based on the total market cap of the DeFi sector. Pegged at a ratio of 1:100 Billion, DEFI100 derives its data using decentralized oracles from DIA to maintain the accuracy of feeds and accurate rebases.
How DEFI100-Rebase derives its value?
DEFI100-Rebase is a synthetic index token that is based on the total market cap of DeFi assets at the ratio of 1:100 billion. That means if
If the total market cap of the DeFi sector is $75 Billion, the value of the DEFI100-Rebase token will be $0.75
If the total market cap of the DeFi sector is $150 Billion, the value of the DEFI100-Rebase token will be $1.50
The value for the total market cap of the DeFi sector is obtained using our partner's trusted oracles. Oracle source the data from CoinGecko to provide the feeds. Based on these feeds DEFI100-Rebase performs rebase once every 24 hours.
What are oracles and why they are required for DEFI100-Rebase?
Oracles serve as a bridge between blockchain and the outside world and provide smart contracts with external information as required to perform their required functions. Since smart contracts can not access off-chain data, this is where Oracles come into play.
For DEFI100-Rebase to maintain its peg with the total market cap of DeFi assets, it is required to bring this information on-chain. Our oracles, source the information, i.e. total market cap of DeFi assets from Coingecko every 10 minutes, and then provide the TWAP data feed to perform the most accurate rebase and maintain its peg.
What is Rebase? How does it help DEFI100-Rebase to maintain its pegged value?
A price-elastic token is one where the project’s total token supply is not fixed, but instead automatically adjusts on a routine basis.
These token supply adjustments, called “rebases,” take place as per market demand and are done in such a way that users’ proportional holdings ultimately don’t change and thus aren’t diluted. Rebases are performed with respect to the target price, with the idea being that a token’s nominal price will steadily be moved over time toward its target, e.g. market value of DeFi assets at the ratio of 1:100 bn in case of DEFI100-Rebase.
Rebase is performed when the Spot price of DEFI100-Rebase (Market Value of DEFI100-Rebase token) is not in equilibrium with its Target price (Market cap of DeFi assets at the ratio of 1:100 billion). There are two conditions when rebase will take place:
When the spot price is more than the target price, the total supply will go through expansion to bring down the spot price in equilibrium with the target price. This event is known as Positive Rebase.
When the spot price is lesser than the target price, the total supply will contract, resulting in reduced supply and moving spot price in equilibrium with the target price. This event is known as Negative Rebase.
Why Rebase is required for DEFI100-Rebase?
Since the DEFI100-Rebase token is pegged to the value of DeFi tokens market cap, which keeps fluctuating on regular basis, Rebase function is required so that DEFI100-Rebase can maintain its peg with the DeFi market cap.
What is Smart Rebase?
To make DEFI100-Rebase more lucrative and profitable to our users and holders, the DEFI100 team has programmed the rebase function in such a way that it gives market more time and a longer window to let market forces drive the Spot price in equilibrium with the Target price.
DEFI100-Rebase will perform rebase only when the difference between Spot Price & Target price is more than 5%. In case the difference between the Spot Price & Target Price is less than or equal to 5%, there will be no rebase.
Also, for providing a larger role to the market forces in Spot price & Target price in equilibrium, negative rebases will be capped at 10%. That means, in case there is going to be a negative rebase, the total supply will contract by a maximum of 10%. Positive rebases are uncapped.
These functions give a wider window to the market forces to drive the price nearer to the peg.
What is the total supply of DEFI100-Rebase?
DEFI100-Rebase being an asset with elastic supply, the total supply will keep adjusting to maintain its pegged value. Thus the total supply will vary after every rebase.
The initial supply of DEFI100-Rebase after the TGE and before the token does the first Rebase will be 2,500,000 DEFI100-Rebase tokens.
DEFI100 Tokenomics and token distribution?
Token Distribution Percentage
Token Name - DEFI 100
Symbol - D100
Type - BSC BEP-20 Token
Initial Supply - TBA
Public Offering - TBA
LP & Farming Reward - TBA
Initial Liquidity - TBA
Ecosystem Reserve - TBA
How can I purchase DEFI100-Rebase? How many rounds of presale will be there?
DEFI100 Tokens will be available for public sale through an initial offering on our partner's platform. There will be only one round of the presale. More details regarding exact dates for an initial offering will be available in the last week of February 2021.
After an Initial offering, DEFI100 Tokens will be available to trade on major BSC AMM.
Where will the presale take place? When will we receive our tokens?
Presale will take place in the last week of February 2021 on a major BSC AMM Launchpad. Exact details with respect to date and timing will be shared through our official channels on Twitter and Telegram.
Tokens will be distributed immediately after the presale.
What is the Vesting period for presale? Will the Liquidity be locked?
There is no vesting period for Public offering Tokens. Tokens will be distributed after the presale.
Liquidity will be locked for 11 months.
When will DEFI100-Rebase be listed?
DEFI100-Rebase will be immediately listed after an Initial offering.
Will DEFI100-Rebase be listed on CEX?
Details regarding listing on any exchange will be shared on our official Twitter & Telegram.
Will there be liquidity mining?
Yes, 20% of the initial supply, i.e 500,000 has been earmarked for liquidity mining.
How does Frictionless farming work? What are the benefits of frictionless farming for DEFI100R holders?
Frictionless farming is a new concept of farming by RFI (Reflect Finance), where the users and holders of the token earn rewards by simply holding the token.
A percentage of tax is charged on every transaction and that is distributed between all the holders proportionally to their holding.
By implementing RFI Code in our smart contract, our users will earn rewards on every transaction just by holding DEFI100-Rebase tokens. This can help our users earn dual rewards in terms of Frictionless farming & rewards earned by providing liquidity.