Insights

Fidira Tokenomics: Your Journey Begins at the Corner Store

Nov 01 - Humza Nasir
Fidira Tokenomics: Your Journey Begins at the Corner Store

The ingenuity of the product and the ecosystem of the Fidira platform is powered by the Fidira native token. The token is the key to unlocking Fidira platform games, incentives and rewards, aimed at introducing users to the power of crypto and NFTs.

After picking up your Fidira gift card you unlock our world of profound token utilities, some of which are highlighted below.

Native Token Utility Breakdown

While in its infancy, the Fidira token has numerous inherent utilities available to be harnessed by the platform’s users. Of these utilities on offer, the Fidira token will find uses in;

● Staking

● Fidira’s DAO Governance, and;

● The Fidira’s Farming platform

Below is a quick dive into each of these functions.

Staking: The Fidira token will be very valuable in powering the protocol’s decentralized finance (DeFi) initiatives. Just like a typical staking program, the Fidira Tokens can be locked up in dedicated smart contracts to help the token holder earn a share of the revenue generated by the platform in the form of network fees. All stakers get to benefit from this staking event, and the earnings are paid out automatically without hassles.

Staking the Fidira tokens also has other benefits that will further impact the growth of the protocol. Most importantly, users will be rewarded with NFTs, partner tokens and unique NFT related games.

Fidira Token Use in DAO Governance

The revolutionary approach of the Fidira protocol to rebrand how users embrace cryptocurrencies and the surging NFT collectibles are aimed at drafting active participation from its global community. That means as much as the protocol has its founders, and active developers, everyone in the ecosystem will eventually be tasked with shaping the platform’s future.

Fidira’s roadmap includes migrating a lot of the decision making to a DAO model. Holders of the Fidira Tokens will be able to contribute to the platform’s future developments by staking their assets in the Fidira DAO. Decentralised governance is one of the incredible opportunities that blockchain technology represents, and Fidira aims to hold your hand from buying your first gift card at your local store, to participating in leading-edge decentralised governance.

The Fidira platform’s Farming Program

The platform’s farming product is also one of its advanced DeFi product offerings. Users will place some of their tokens into liquidity pools on Quickswap, which will send back a Liquidity Pool (LP) token.

Liquidity pools are core infrastructure of the DeFi landscape, and make decentralised exchanges work, by providing liquidity for the market to swap tokens.

In the legacy financial world, this role is reserved for centralised Market Makers with hundreds of millions of dollars, but liquidity pools democratise market making so anyone can participate.

Providing liquidity comes with risks of something called “impermanent loss”, as the prices of tokens change in relationship to each other, which is part of why Fidira is incentivising users with giveaways and extra returns in either FID or tokens from our NFT partners.

Tokenomics Breakdown

Here is a detailed breakdown of the key elements of the Fidira Tokenomics;

Token Name: Fidira (FID)

Token Ticker: FID

Blockchain: Polygon Network

Token Standard: ERC-20

Token Contract: 0x9a4eb698e5de3d3df0a68f681789072de1e50222

Initial circulating supply: 1,166,667

Total Supply: 100,000,000

Token Price: $0.15 (Public Sale Price)

Initial Market Cap: $1.4 million (Realized from seed, private and public rounds)

Conclusion

The Fidira token will play a central role in uniting every person of interest in the Fidira ecosystem. Through the DAO governance provisions, Fidira’s users will have the avenue to interact with one another, all with the goal of advancing the growth of the platform. As a platform built to bring people into crypto, NFTs, and DeFi, the growth of the platform means growth of the crypto ecosystem as a whole.

As the DeFi world continues to innovate, Fidira will grow with it to ensure users always have access to a curated set of safe, secure opportunities and functions within the crypto ecosystem.

The advanced utilities or capabilities that the token brandishes which makes it find uses in staking and farming will also contribute to the high yielding potentials of the protocol as a whole. Atop this reality, Fidira does not compromise its security standards, offering the best obtainable in the DeFi world of today.

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