SteakBank.Finance’s Tokenomics and upcoming Token Sale
SteakBank explained what the Tokenomics and token model of SBF are & released information about upcoming Token Sale.
To begin, SteakBank’s native token “SBF”, is a BEP-20 token that exists on the Binance Smart Chain, and will be traded on PancakeSwap upon its initial listing on 2021–05–12 3:00 PM (UTC).
As for the current use cases of the SteakBank Token (SBF), it can be:
- Used to submit and vote on proposals (governance),
- Burned to accelerate unstaking processes,
- Accrue value when fees are collected during staking and unstaking processes and used to buy back SBF, which is subsequently burned. Value is accrued on the SBF token when fees collected during the staking and unstaking processes is used to buyback SBF token, and then subsequently burned.
Other new use cases and developments are being planned, including bringing in other staked assets to BSC such as Solana, Polkadot, and others. This would accrue more value for SBF.
What is SteakBank?
SteakBank is a Binance Smart Chain (BSC) liquid staking platform. It allows derivative tokens to be issued on the BSC blockchain through the BEP20 standard. These representative tokens can then be used for liquidity farming or as collateral for decentralized lending, enabling users to earn multiple income streams from one single asset.
A simple yet powerful project, SteakBank aims to solve the liquidity issue found in the current DeFi sector. Currently, when users stake with validator, their tokens are locked up and unable to be used for other yield generation purposes such as liquidity providing, or lending. SteakBank is able to solve this problem and improve user’s capital efficiency.
Steakbank not only benefits token holders and project ecosystems by optimizing capital efficiency but also allows the communities to earn additional income without the need for further token allocation.
📰 INFO:
https://medium.com/steakbank/steakbank-finances-tokenomics-and-upcoming-token-sale-dac4c594c1f5
