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SINGLE Token

Verified contract addresses of SINGLE token

Chain
Contract address
Cronos
0x338726dd694dB9e2230eC2bB8624a2d7F566C96d
Fantom
0x8cc97B50Fe87f31770bcdCd6bc8603bC1558380B
Avalanche
0x6e0c55f4f52E2BE3eAbbd368F1aE7edDeb4Ebf8a

The Utility of SINGLE token

SINGLE is the limited supply governance token for the Single Finance Protocol.
SINGLE token holders are able to participate in governance and shape the future of SINGLE, as well as determine key parameters for the interest rate model, fee rates, and the distribution of protocol fees and reserves accrued to the Single Finance Protocol.
SINGLE token holders can participate in protocol governance by staking SINGLE for xSINGLE in the future. The total supply of SINGLE is 1,000,000,000.

1. Performance fee sharing

There are several mechanisms for performance fee sharing and for making SINGLE deflationary in nature.
  • 10% of the strategy profit (i.e. strategy performance fees based on membership tiers) is distributed as Protocol APR to SINGLE token stakers.

2. Buyback and Burn

  • 9% of the strategy profit (i.e. strategy performance fees based on membership tiers) goes to Buyback and Burn.
  • All of 10% of the lending interest that lenders earn goes to Buyback and Burn.
Details can be found in the Fee & Parameters section.

3. Deflationary

SINGLE token is long-term deflationary. Emissions will last for approximately 36 months, with halvenings occurring every six months. A halvening means the budget for maximum tokens used for emissions during a 6-month period will halve relative to the previous period. The full amount of the budget will not necessarily be emitted during that period.

4. Governance

We will soon launch a governance vault that will allow community members to stake their SINGLE tokens to receive xSINGLE, where 1 xSINGLE = 1 vote, allowing them to decide on key governance decisions.

5. Exclusive Strategies Opportunities

Staking SINGLE token will allow users to access exclusive Single-Click Strategies that provide higher returns with lower risk.

6. Exclusive NFT Access

We are planning to integrate NFTs with actual utility into the platform. Users will have to hold SINGLE in order to benefit from this utility such as lowered performance fee and bonus rewards.

TOKENOMICS

Updated at 5 January 2022
Mining - Rewards for lending and leveraged yield farming
Partnership & Ecosystem - Pays strategic expenses including listing fees, audits, extra rewards for ecosystem and partners, and marketing fee, etc.
Team - Supports for continuous development
Liquidity Pool - Reserves for expanding liquidity pairs in different AMMs/DEXs
Seed & Private - Provides initial liquidity and bootstrap fees
Initial DEX Offering(IDO) - Provides lending pool assets to bootstrap our strategy
Advisors - Rewards for advice from our advisors
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Emission and Vesting Schedules