WHEAT Tokenomics Update: Gearing closer towards deflation
This is an update on the changes that have been made to improve WHEAT’s long term tokenomics and its snowball effect.
91k WHEAT in circulation
Over 11 Million $ in TVL
Over $260k constantly buybacking WHEAT & GRO
1-Emission rate lowered from 0.5 WHEAT/block to 0.1 WHEAT/block, this sets the daily emissions of WHEAT at 2,880 WHEAT/day minus whatever is burned that day.
This change will greatly improve WHEAT’s long term value prospects
There are no plans to modify the emission rates any further, 0.1 WHEAT/block is the ideal amount.
2-To stay more competitive and substantially increase the TVL we have updated all deposit fees for PancakeSwap strategy tokens from 3% to 0.1%, this change allows all those who want to use WHEAT to compound their holdings to cover the deposit fee in under 1 day!
3-Fee Collectors growth has been impressive thus far, gathering over $260k in less than 5 days, with the changes to the deposit fees the TVL will increase substantially and so will the stream of performance fees that go into the fee collectors.
This will allow much faster and consistent growth for the fee collectors TVL.
The reduction in WHEAT emissions will also greatly improve the effect that buybacks from the fee collector have.
So what’s next?
We’re happy to announce that we are currently working on adding more strategies to the WHEAT platform, the first one to be added will be BNB autocompounding using AlphaFinance as the underlying protocol (it’s currently in the strategy testing phase and will be rolled out in the coming week).
Next up we’ll be releasing improved strategies using the Venus protocol, which will enable users to earn the highest APY on:
USDT, BUSD, USDC, BNB, BTCB, DAI, ETH, SXP, DOT, ADA, XVS, BETH, LINK, XRP, LTC, FIL and BCH.
All of the above will have a 0.1% deposit fee of which the large majority will go towards automatically buybacking and burning WHEAT & GRO.
If you want to start farming you can do so here.
If you have any questions feel free to join our Telegram and ask.