What is DeFi100 (D100) | What is DeFi100 token | What is D100 token

The year 2020 saw staggering growth and a phenomenal rise in the decentralized finance (DeFi) industry. The DeFi sector continues to break a new high in terms of market cap as well as total value locked.

It will not be wrong to say, 2020 was the year of DeFi. Throughout the year DeFi tokens saw unprecedented growth.

The total market cap of DeFi tokens that stood at $1.6 billion as of 31 Dec 2019 touched $19.95 billion on 21 December 2020. At the time of writing the market cap of DeFi tokens stand at roughly $19 billion.

If someone wants to speculate on the growth of the DeFi sector and bet on the sector as a whole instead of investing in one or two tokens, how to do that?

DEFI100-Rebase makes it possible to speculate on the growth of the DeFi sector as a whole by investing in one token that tracks the value of the total DeFi market cap and rebases itself by expanding and contracting supply to align its value with the DeFi Market cap at the ratio of 1:100 billion.

DeFi sector is fueled for long-term growth and current market capital is highly undervalued considering the demand and scope in the sector.

DEFI100-REBASE (D100R)

DEFI100-Rebase is the first project by Wrapp3d, a consortium of people working on creating new synthetic assets to introduce indices and real world tradable assets to the token economy. D100R is an index token that derives its value from the total market cap of DEFI sector.

Why it is required?

Decentralized Finance as a sector has a massive growth potential. However it is not possible for any individual to keep a track of hundred’s of tokens and be benefited by the future growth. Some assets will see increase in their valuation whereas some might fail to achieve their milestones resulting in decline in their valuation. Also over the course of time there will be new projects and tokens that will make way in the top 100. This requires regular update of portfolio. For someone who is not active trader, it is simply not possible to do so.

D100R solves this problem from its core. As an index token with its price pegged to the market cap of top 100 DeFi tokens, D100R makes an ideal asset for an investment to bet on the decentralized finance growth.

The price of D100R increases and decreases as per the valuation of total market capitalisation of decentralized finance sector. The Elastic supply of token adjust itself every rebase to bring the spot price of token in equilibrium to the targeted price, i.e. Market Cap of DeFi at the ratio of 1:100 Bn.

Smart Rebase

Rebase is fairly new concept in cryptocurrency space. Pioneered by Ampleforth (AMPL) and later successfully tested by Base Protocol (BASE) that pegged its value to the total crypto market cap. The algorithmic stable coins are still in experimentation and nascent stage. However it provides one of the best solution to offer a true trustlessly pegged assets.

D100R is a Rebase token that increases or decreases the supply to bring the spot value of the token equal to the target price through positive or negative rebases.

What is Smart in DEFI100 REBASE?

To give market a window where the market forces bring the spot price of the token in equilibrium with the Target price, D100R Rebase will require the following:

• Positive Rebase are uncapped.
• For rebase to occur, difference between Spot Price & Target Price should be greater than 5%. If the difference is lesser than or equal to 5% there will be no rebase.
• Negative Rebase are capped at 10%. This gives the market forces to rebalance the demand and supply and bring Spot price equal to or higher than the Target price.

Vision — DEFI 100-REBASE

Decentralized finance sector is growing with unprecedented speed. Soon DeFi will be a major player in cryptocurrency ecosystem. D100R aims to become the leading Index token that can be used for investing upon or bet on the growth of DeFi sector.

D100R is an experiment to remove the inherent vice in the REBASE model of elastic supply token. By keeping the negative rebase capped at 10% we aim to give market and users more opportunity to drive the prices towards equilibrium by creating demand and reducing supply at the same time.

Oracles

DIA (Decentralised Information Asset) is an open-source, financial information platform that utilises crypto-economic incentives to source and validate data. Market actors can supply, share and use financial and digital asset data.

DEFI100-Rebase token will be powered by DIA data to source the data & feeds for rebase. DIA’s decentralized oracle will source the price feeds from multiple sources to provide the most accurate data.

DEFI100 IDO on BakerySwap

DEFI100 IDO — 22 FEB 2020

It is a long-awaited moment for which we all were waiting eagerly. Finally, the dates have been finalized for our much-awaited launch on #BinanceSmartChain.

DEFI100 will begin its journey as the first Synthetic asset with elastic supply pegged to #DEFI Market Cap on Binance Chain Ecosystem. Before we start answering questions that might be lingering in your minds, We would like to throw a brief insight into what is DEFI100 all about?

DEFI100 — What & Why?

DEFI100 is a Synthetic Index Token that works on the principle of elastic supply and uses rebase function to maintain the equilibrium between its Spot Price and Target price. Our Token is pegged to the total market cap of the Decentralized Finance sector at the ratio of 1:100 billion.

Since tokens are smart contracts and smart contracts in themselves are unable to fetch real-world data on their own, it requires “Oracle” that can help it bridge the gap between the blockchain and the real world. DEFI100 uses the decentralized oracles of our partners to provide the real-world data, i.e. Total Market Cap of the DeFi sector to power DEFI100 rebases.

Now the question arises, what is Rebase? What is elastic supply and how it works?

Elastic supply principle and rebase are not exactly a new concept in the otherwise young blockchain industry. The credit of popularizing it goes to Ampleforth (AMPL) and later Base Protocol. In Elastic supply, tokens do not have a fixed supply and their supply expands or contracts as per market demands.

In the case of AMPL, its value is pegged to 1 USD and Base Protocol has its value pegged to the total crypto market cap. DEFI100 derives its value from the DEFI sector market cap at the ratio of 1:100 billion. So that means,

• If the DEFI Market Cap is $80 Billion, the D100 token will be $0.80
• If the DEFI Market Cap is $90 Billion, the D100 token will be $0.90

How it will affect your holding?

The incredible thing about this mechanism is that it will not affect your holding at all. What does it mean?

Let us explain it with an example.

• DEFI Market Cap is $100 billion, making our Target price $1 (DEFI100 is pegged at the ratio of 1:100 billion.)
• DEFI100 token is trading at $1.5 (Spot Price)
• Mr. Hodler has 1000 DEFI100 Tokens, presently valued at $1500

In the above example, there will be a positive rebase, since Spot Price ($1.50) is more than Target Price ($1.00). Thus, supply will increase. How it will affect Mr. Hodler’s Holding? let’s see

• After rebase occurs, Mr. Hodler will have 1500 DEFI100 Tokens in his wallet and the price will come down to $1 per token, however keeping the holding value of Mr. Hodler at $1500.

The increase and decrease in holding will be done automatically.

What will happen in case of a negative rebase?

Negative Rebases is painful. However to reduce the number of negative rebase, we are implementing a couple of twists in our rebase mechanism.

• No Rebase will occur if the difference between Spot & Target Price is less than 5%.
• Negative rebase has been capped at 10% whereas no capping for positive rebases.

These changes have been incorporated to ensure minimum negative rebases and more time for market forces to bring the price in equilibrium.

Now let’s move to more information about our upcoming IDO!

TokenMetrics

• Name — DEFI 100
• Symbol — D100
• Token Type — BEP20
• Initial supply — 2,500,000 D100 Tokens
• IDO Date & Time— 9 AM UTC, 22 Feb 2021How to Participate in DEFI100 IDO?
• Currencies accepted for IDO — BNB & BUSD
• Contract Address —  0x9d8aac497a4b8fe697dd63101d793f0c6a6eebb6

DEFI100 IDO will be launched at the best AMM on BSC — BakerySwap  https://www.bakeryswap.org/#/ido on 9:00 AM, February 22 UTC.

Token Distribution and Vesting

Tokens allotted for IDO/Public Sale will have no vesting and will be distributed immediately after liquidity is being added.

5% of the Tokens reserved for the team will be vested for a period of 1 Year and thereafter will be released at the rate of 25% each month.

The liquidity that will be added will be locked for 11 months.

Ecosystem reserve includes tokens that have been reserved for various competitions like trading competitions, hackathons, etc. These Tokens will be slow-released at 10% per month. In Case there is no event scheduled, tokens will be locked for another 11 months.

25% of the tokens are reserved as a reward for the various Liquidity pools that will be available for staking and farming.

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