What is DAFI Protocol (DAFI) | What is DAFI Protocol token | What is DAFI token | DAFI Protocol ICO
About DAFI
DAFI enables networks to reward users, based on their adoption. Every decentralized network can soon create synthetic dTokens tied to the adoption of their protocol. DAFI can reward a network even when demand declines, by issuing synthetics that will reward user’s later —** instead of earlier**. Creating longer-term users for staking, liquidity and participation.
Same chains. Better users.
- Every decentralized economy since Bitcoin, is forced to distribute large amounts of tokens to their network.
- This incentive model creates an excess supply. Nobody likes this, it simply devalues the economy, without supporting early-users.
- Instead of distributing a token directly, the Dafi protocol enables networks to create a synthetic in a reduced quantity. As demand rises, the synthetics (dToken) increase in quantity.
- Dafi can incentivize early-users and maintain a network in bearish markets, without issuing large quantities of tokens.
Dafi (daf-ee)
Synthetic rewards
The DAFI token is staked for synthetics - which increase in quantity only as demand rises
Flavours
Every blockchain and cryptocurrency can create a synthetic to incentivize their users betterScarcity
DAFI rewards users even when demand is low, by actually enhancing scarcity - dToken rewards these users later by increasing in quantity when network demand rises
What is DAFI solving?
Networks can distribute synthetics to their users, instead of tokens. With Dafi, every decentralized economy can create and issue synthetics, which are later burned for their native token.
This means that we can now incentivize nodes, staking and even liquidity – in a reduced quantity. This solves the biggest issue within decentralized economies - rewarding the longer-term users later, instead of earlier.
DAFI’s work with Institutions
Reinventing the economics behind decentralization is a long journey. Over the recent years, Dafi has worked closely with reputed institutions to build something positively disruptive.
Since its inception, DAFI has tested different approaches to tackle the same problem — rewarding a network with less hyperinflation and less single-user control of value. This was a problem that was identified in the 2018 crash. DAFI has been closely tied with some of the most renowned institutions in England — which was key to providing guidance, events, and support.
source : https://www.youtube.com/watch?v=seQ2aHvP5rY
Incubated by Royal Bank of Scotland
DAFI initially broke grounds being incubated by a leading European Bank, the **National Westminster Bank **(otherwise known as the Royal Bank of Scotland). Natwest Bank is one of the largest UK-based banks, and a part of the prestigious RBS group.
The National Westminster Bank decided to support DAFI through consulting and accelerating the project under their FinTech arm. In fact, the new DAFI UK office was even located inside one of their branch building’s.
Featured in Natwest Business
DAFI protocol was also spotlighted in the December edition of Natwest’s monthly newsletter. This was instrumental in introducing DAFI to a whole new audience unaware of blockchain and decentralized finance. For this reason, only one utility of adaptive rewards was mentioned in their brief newsletter targeted for non-crypto people. It was very encouraging to see a reputed centralized institution (and a financial bank at that) accelerating this venture.
Close ties with academia
DAFI believes in embracing education surrounding Blockchain & the new models transforming the field. Dafi’s team worked with several Universities, Researchers and of course Students to foster conversations around the digital environment.
In late 2020, Dafi CEO Zain Rana presented the project at the University of Manchester and the University of Leeds. Breaking down the economics in how decentralized economies are created, including Bitcoin, and how they can be improved. It’s a leap in the vision of what DAFI is constructing to the next generation of students coming into this decentralized world.
On February 1, the prestigious University of York hosted DAFI’s team for a night of stimulating discussions and engaging conversations around blockchain economies. A forward-thinking University, known for Gavin Wood, co-founder of Ethereum and creator of **Polkadot **graduating there. The adoption-tied model of rewarding users was introduced, explained, and included showing DAFI’s synthetic testnet. Dafi’s team explained how the protocol could change the current inflation models of cryptocurrency and usher in a new system of rewards being tied to a network’s adoption, rather than based on time — like every network since Bitcoin.
Going forward, DAFI intends to carry on such collaborations with institutions and embrace such partnerships to further the decentralized agenda — creating economies with better users in the blockchain world.
DAFI Tokenomics Announcement
We recently announced the successful close of the DAFI private raise. The public sale whitelisting will begin today. Before we do that, we want to explain our tokenomics.
The DAFI Token
- **Token name: **DAFI
- **Total supply: **2,250,000,000
- **Price: **$0.00333
Private sale
We structured our raise so that those who have supported us over a long period of time, and those who can add immense value to the ecosystem will benefit. The private round was filled by top tier funds and to strategic partners in the crypto ecosystem who would provide marketing support and open doors to help us grow the project. There will be a public round prior to listing.
Based on the raise as well as tokens distributed to critical stakeholders, on the TGE the initial circulating token supply will be 214M DAFI, with an initial market cap of $0.71M.
TGE information
- **Public sale amount: **$150k
- **Public sale tokens: **45M (2%)
- **Market cap at TGE: **$0.715M
- **Fully diluted valuation: **$7.50M
- Total raise: $1.05M
DAFI Distribution
Our tokens are distributed in a way that supports the growth of the DAFI ecosystem. Approximately 27% goes towards all fundraising. 20% of the DAFI tokens are used as staking rewards for creating synthetics. 11% goes to the ecosystem reserve to incentivise adoption, growth and products created with DAFI.
The remainder is treasury, team, marketing and advisors.
Next 12 month distribution
The table below shows the vesting of DAFI over the next 12 months. We have designed the schedule to ensure our private and public sale participants receive tokens at the TGE. Participants in the private sale have their tokens vest weekly for six months (the first month after TGE is a cliff period) and five months for the strategic sale.
Ecosystem reserve vests weekly for 12 months and treasury for 24 months. Team and advisor tokens are locked for 1 year and then vest over a longer period.
Note: This does not include Staking (20%) which is distributed based on network adoption, not time.
DAFI Distribution over 3 years
Over a three year time period, you can see three distinct phases of token release. Phase 1 is the fundraised tokens unlock, Phase 2 is the ecosystem, marketing and treasury unlock which is slower and Phase 3 is the slowest with the team and advisory unlock.
Public Sale
The public sale will take place on DAO Maker in a few weeks. The next announcement are the steps to apply to be whitelisted. Make sure you only follow the official information from DAFI’s social channels below.
source : https://www.youtube.com/watch?v=pib571Y7_QI
Would you like to earn TOKEN right now! ☞ CLICK HERE
How and Where to Buy DAFI Protocol (DAFI)?
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, BUSD …
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, BUSD
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
After the deposit is confirmed you may then purchase DAFI from the Website: https://www.dafiprotocol.io/#token
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once DAFI gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com
Find more information DAFI
☞ Website ☞ Whitepaper ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Message Board
🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
Thank for visiting and reading this article! I’m highly appreciate your actions! Please share if you liked it!
#blockchain #bitcoin #dafi protocol #dafi
