Crudeoil Finance introduced newest ECO system token, CRUDE Token.
This will effectively replace both our current tokens OIL and DIESEL. Once the CRUDE token is in effect. OIL and DIESEL will merge and removed from ECO system. In a nutshell, there will be only one token in ECO system from there onwards.
After extensive research and discussions internally. We thought the best course of action to move forward with only one token (even with the multiple products). Too many tokens per project often create complications and difficulties to handle in many scenarios.
The CRUDE token will be the fuel in our behemoth yield optimizer engine. Everything will revolve around it. Here is a detailed list of design features and benefits to the holders
- Crudeoil Yield Optimizer is a next-generation product that offers additional reward from CRUDE token per each smart vault. This results in realizing a higher cumulative APY in order to get a competitive advantage over competitors in the space.
Example: If someone stakes CAKE/BNB pancake LP on our platform. They not only compound the LP (which will result in a higher APY compared to the Farm APR) but provide an additional CRUDE reward as well. This will result in an additional APY boost from the CRUDE token which will result in a higher cumulative APY
- CRUDE stakers will get an additional reward from our platform fees.
A portion of the platform fee will be distributed among the CRUDE stakers in platform which will be an additional reward.
- Buyback and burn will make CRUDE Hyper Deflationary
A portion of the platform fee is directed towards buying back CRUDE from the market. These bought-back tokens are burned forever which will result in the reduction of the total supply over time, making it a scarce asset. This process will continue till the total supply becomes 5000 CRUDE.
- Trading and Exchange listing.
They have plans to list CRUDE on few centralized exchanges over time.
- Driving fuel for the other products such as NFT marketplace, playground, etc…
Their other ECO system products will be driven by CRUDE token
What is Crudeoil?
Crudeoil is the next generation decentralized yield aggregator/optimizer built on #BSC for the DEFI economy.