Simplified Finance is a one-stop shop to help you put your DeFi Portfolio to work. It is a decentralized finance protocol built by traders and technologists, inspired by industry-leading protocols like Uniswap, 1inch.exchange and Yearn Finance.
We believe that SMFI (Governance Token) will empower you to manage your DeFi assets in a trustless environment at just a fraction of the cost you are paying at any of the other decentralized finance protocols.
SMFI, the Simplified Finance governance token will be live in Q1-Q2, 7 days after Initial DEX Offering.
- 1 billion SMFI tokens will be minted at genesis and be distributed across 4 years.
- 9% of SMFI genesis supply will be allocated to early liquidity providers of Simplified Finance that qualify as a Simf (see further description below). 51% of SMFI total supply will be distributed across various liquidity mining pools.
- From genesis, half of revenue generated by the platform will be used to buyback and burn until the total supply of SMFI is 500 million.
COMPLEX | THE PROBLEM
As the founders of Werewolf and Fantom, we’ve seen various problems which exist in the current decentralized finance market.
- 1) Accumulating gas costs,
- 2) Non-interoperability of decentralised exchanges,
- 3) Complex UX/UI designs,
- 4) Poor incentive structure.
- Accumulating Transaction Costs: As a trader and liquidity provider of a decentralized finance market, it is difficult at times to forecast or calculate the future cost of gas. Although a drastic increase, Ethereum Daily Gas Used, represents a healthy developer community, this also means developers and traders are often having to pay high gas prices. At the time of writing, volatility of gas fees ranged from 1 gwei to 45,597.77 gwei.
- Non-interoperability of Decentralised Exchanges: Migrating liquidity across different platforms often requires you to take multiple steps, which is extremely cumbersome and expensive. Making it more difficult for the majority of people to navigate.
- Poor Incentive Structure: Various yield farming platforms offer yields that are unsustainable and have poor token structure. This leads to a drastic fall in the price of the governance token.
SIMPLE | THE SOLUTION
- CHI Integration: Simplified Finance has successfully built a beta version of Constant Market Maker which integrates CHI Token. gives users the benefit of hedging against volatility of gas fees, preventing traders and developers from paying extremely high fees when gas prices spike.
- One-Click Migration: With a click of a button, liquidity providers can migrate their liquidity from their favourite liquidity pools to mine SMFI or to earn liquidity provider fees.
- SMFI, the Governance Token: Tokenomics designed for healthy governance and incentives, Simplified Finance brings referral protocol and buyback burn mechanism. While token circulation is vested across 4 years, traders and liquidity providers are strongly incentivised to take part in voting and governance while saving transaction fees.
DEX trading fees from volume generated. Simplified.Finance reserves the option to later re-direct a maximum of 0.05% per trade to fund the ongoing R&D and to fund buyback and burn of SMFI.
50% of the revenue generated from the revenue model above will be used to purchase SMFI tokens from the market and burned until 500,000,000 tokens are remaining. This event will be held through a smart contract integrated via Simplified Finance swap/pool protocol.
The purpose of SMFI token is for governance and voting purposes only.
- Any address with more than 1% of SMFI tokens supply can delegate to propose governance actions.
- Locked tokens can also be used to vote.
- The community can submit their votes during a 7 day voting period.
- 4% of SMFI supply required to vote ’yes’ to reach quorum.
- 2 day time lock delay on execution.
- SMFI tokens can be delegated and used to vote through the governance portal.
- Token holders can either delegate their vote to others or even self-delegate.
- Users can delegate his votes to ‘Delegatee’.
- Users can delegate to ‘1’ address at a time.
- The number of votes added to the delegatee’s vote count is equivalent to the balance of SMFI in the user’s account.
- Votes are delegated from the current block and onward, until the sender delegates again, or transfers their SMFI.
SIMF DEBUT EVENT
For healthy growth of community and to have liquidity from day one, Simplified Finance is offering early supporters to be rewarded up to 9% of SMFI total supply to those providing liquidity early.
The event will start from the 16th of December 2020 and will last until genesis event. We will release further information on Simplified Notice Channel https://t.me/simfiann closer to the date.
SMFI INITIAL DEX OFFERING
SMFI IDO is expected to be held in Q1-Q2. We will release this information after Simf Debut Event.
LIQUIDITY MINING EVENT
We will release this information on Simplified Notice Channel https://t.me/simfiann
HOW TO BUY SMFI
SMFI Private Sale is currently in progress and is only offered to strategic partners. The only method to buy SMFI is by participating in the Initial DEX Offering before the listing of SMFI.
SMFI Price during the Initial DEX Offering will be offered at 0.1 USD/SMFI.
TOKEN ALLOCATION, LOCKUPS AND DISTRIBUTION SCHEDULE
The total supply of SMFI Tokens will be capped at 1 billion and be minted at genesis which is expected to be held in Q1-Q2.
A perpetual inflation rate of 2.5% per year will start after 4 years.
- Initial DEX Offering: 1%
- LP Mining Pool: 51%
- SMFI Early Supporters: 9%
- Reserves: 15%
- Team & Advisors: 18%
- Seed: 2.5%
- Private Sale 1: 2%
- Private Sale 2: 1.5%
Locked SMFI tokens will automatically unlock according to the following schedules:
- Initial DEX Offering: No lockup
- LP Mining Pool: 2 years distribution
- SMFI Early Supporters: 1 year vesting
- Reserve: 6 months lockup and 3.5 years vesting
- Team & Advisors: 1 year lockup and 3 years vesting
- Seed: 1 year lockup and 1 year vesting
- Private Sale 1: Pending
- Private Sale 2 : Pending