SOCKET Tokenomics
📑 About SOCKET Coin
SOCKET coin will use a Deflationary Farming Mechanism with a fair launch. The fixed maximum total supply will be 10,000. No more tokens can be minted. SOCKET will have a 1.5% Fee on transfers (buy & sell on Uniswap), which means on every time there is a transfer, there is a tax of 1.5%. This fee will be distributed to all ETH-SOCKET and SFI-SOCKET LP token stakers, which makes farming without inflation possible.
Token Contract: 0xa6312567e419e73951c451feaba07b6d74a0e8ce
Fixed Maximum Total Supply: 10,000 (All the tokens will be distributed via LGE)
📋 Liquidity Generation Event
Attend SOCKET LGE at: https://socket.finance/#/vaultslite
You can contribute ETH and SFI to SOCKET LGE. Attending LGE is the cheapest way to get SOCKET LP token. After LGE, you can claim LP token according to contribution percentage, and farm SOCKET by staking LP token.
The LGE smart contract used the 10,000 SOCKET and the total amount of ETH and SFI supplied throughout the event to create ETH/SOCKET and SFI/SOCKET Uniswap liquidity pool.
For example,
When SOCKET LGE finished, there are 100 ETH and 20,000 SFI contributed in and the ETH:SFI in Uniswap pool rate is 1:50.
20,000 SFI worth 20,000 / 50 = 400 ETH
So the equivalence ETH contributed is 100 + 400 = 500 ETH.
For each ETH we need to add 10,000 / 500 = 20 SOCKET.
After LGE finished, we will add:
- 20,000 SFI + 8,000 SOCKET to Uniswap for SFI-SOCKET pool
- 100 ETH + 2,000 SOCKET to Uniswap for ETH-SOCKET pool
💬 Welcome to join our community !
Twitter: https://twitter.com/SocketFinance
Github: https://github.com/socket-finance
Telegram: https://t.me/SocketFinanceOfficial
Discord: https://discord.gg/qEYfJK2
