Tokenomics
HARPY token is the native token of HarpyFinance.

$HARPY Token

Good to know: Deflationary Tokenomics - Fees charged on deposits are used to make market buybacks and those $HARPY are burnt out of supply forever.
By 2023, 3,250,000 HARPY will be released. After this date, no new HARPY will be minted. Future decisions about new mints will be decided by the community.
Learn more about how token distribution is scheduled.

Details

Good to know: Earn $HARPY from Farms and Single Pools, or buy it on the Balancer or Sushiswap.

Utility

  • Use it in Yield Farms to earn more $HARPY.
  • Stake it in Single Pools to earn free tokens.
  • Participate in PODs (lottery system) - (To be implemented in Stage 3/Stage 4).
  • Vote on proposals relating to the HarpyFinance ecosystem.
    • Governance will still be implemented in stage 1. Once implemented, all project decisions are transferred to the hands of HARPY stakeholders. In addition, the governance will control decisions related to the project treasury (15% of the total supply ~487,500 HARPY).

Distribution

Distribution will take place over 4 stages, which will last 4 months each, resulting in a total of 16 months. At the end of this 16 month period, 3,250,000 are to be minted, of which 2,275,000 are to be distributed to the community through yield farming.
At the start of each stage, the mint function must be called, to mint the exact amount reserved for distribution in each stage. Mining pools at the beginning of each stage must be stocked with HARPY for reward, following this schedule.

Mechanics

  • 50% of the amounts obtained with deposit fees are reserved for burning HARPY at the end of each quarter.
  • The other 50% collected through fees will be sent to the project treasury, which is governed by the community.
All fees collected from deposits are sent to an address called HarpyFeeCollector. At the end of each quarter, the above actions are performed.
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$HARPY Token
Details
Utility
Distribution
Mechanics