What is Fatfi Protocol (FAT) | What is Fatfi Protocol token | What is FAT token
Stablecoin background
Algorithmic stablecoins are a world unto themselves, but before diving in, it’s worth taking a step back and surveying the broader stablecoin landscape. (Readers who are already well-acquainted with stablecoins might skim or skip this section.)
Overshadowed by Bitcoin’s snowballing institutional adoption, DeFi’s sweltering summer, and Ethereum’s impending network upgrade, stablecoins have been on a tear of late, with a total market cap that has eclipsed $25 billion. This parabolic growth has caught the eye of powerful individuals outside of the cryptoverse, including, most recently, a cadre of U.S. legislators.
An Entry-level Introduction of Fatfi
Fatfi is a DeFi Ecosystem, with our Algorithmic Stablecoin forked from Basis Cash protocol, with extra services. While several different designs of algorithmic stablecoins have launched, we believe that the Basis Cash design is the best out there. It’s proven to be resilient while also having the widest distribution of users. 
Defi Summary
In 2020 the DeFi sector is booming and cryptocurrency users around the globe can make use of traditional financial services such as borrowing, lending, trading, and investing in a decentralized and transparent manner — with just an internet connection and a cryptocurrency wallet.
According to data compiled by DeFi Pulse, the US dollar value of ETH locked in DeFi protocols has grown from $674 million at the start of January to over $13 billion today — a 1928% increase in just 1 year. Compare this to 2019, when the value of ETH locked in DeFi protocols grew by just 130 percent over the course of the year, from $293 million to over $687 million.
As the Yield sector gets more robust, its architects will come up with ever more robust ways to optimize liquidity incentives in increasingly refined ways. We could see token holders greenlighting more ways for investors to profit from DeFi niches.
Market Problems and Our Missions
We believe permissionless yield for decentralized assets is here to stay. But with DEFI, we had passed a lot of milestones and still have a long way to go. Even crypto natives today struggle with the plethora of yield farming strategies available to them. The cutting-edge strategy is constantly in flux within yield farming sector. And with every new strategy, testing and research is time and money -consuming at a very high level.
Since the Algorithm Stable Coin revolution, the game had changed. Everything you had known about DEFI Yield Farming is “Inflation”, “Impermanent Loss”. With the success of Algorithm Stable Coin phenomenon, Fatfi want to leverage this sector to a higher level, which is much more sustainable and aim for investor’s long-term profit.
Fatfi is a decentralized open innovation platform that will foster a collaborative ecosystem, with the goal of dramatically accelerating the development and adoption of the world’s most advanced technologies & strategies into the most attractive segment in DEFIverse: Liquidity Rewards
Introducing Fatfi — a DeFi Ecosystem, with it own Algorithmic Stablecoin.
We believe permissionless yield for decentralized assets is here to stay. But with DEFI, we had passed a lot of milestones and still have a long way to go. Even crypto natives today struggle with the plethora of yield farming strategies available to them. The cutting-edge strategy is constantly in flux within yield farming sector. And with every new strategy, testing and research is time and money -consuming at a very high level.
Since the Algorithm Stable Coin revolution, the game had changed. Everything you had known about DEFI Yield Farming is “Inflation”, “Impermanent Loss”. With the success of Algorithm Stable Coin phenomenon, Fatfi want to leverage this sector to a higher level, which is much more sustainable and aim for investor’s long-term profit.
Fatfi is a decentralized open innovation platform that will foster a collaborative ecosystem, with the goal of dramatically accelerating the development and adoption of the world’s most advanced technologies & strategies into the most attractive segment in DEFIverse: Liquidity Rewards. We are the mixture of DeFi and Algorithmic Stablecoin.
Fatfi is built on Binance Smart Chain, bridged to Polkadot.
How does Fatfi work?
Fatfi is a DeFi Ecosystem, with our Algorithmic Stablecoin forked from Basis Cash protocol, with extra services. While several different designs of algorithmic stablecoins have launched, we believe that the Basis Cash design is the best out there. It’s proven to be resilient while also having the widest distribution of users.
Our protocol controls money supply similarly to how central banks of the world may guide the value of fiat money through monetary policy. By controlling the quantity of money supply in an economy by buying or selling bonds, a target value can be achieved (In this case $1). Instead of a central bank or a currency board, rules are set and executed programmatically via smart contracts so that behavior of the system can be predictable.
There are four tokens in the Fatfi protocol:
FAT Token — Our Governance token
FAC — Fatfi Cash: Our algorithmic stablecoin, designed to be used as a medium of exchange. The built-in stability mechanism expands and contracts their supply, maintaining the price of $1.
FAB — Fatfi Bonds tokens are designed to move in price and guide FAC to $1.
_FAS — Fatfi Shares. Fatfi Share token holders will be the backbone of the system, providing resources and guidance to the protocol._What is Fatfi Algorithmic Stablecoin?
Fatfi is a decentralized open innovation platform that will foster a collaborative ecosystem, with the goal of dramatically accelerating the development and adoption of the world’s most advanced technologies & strategies into the most attractive segment in DEFIverse: Liquidity Rewards.
What is the 4 tokens mechanism?
There are four tokens in the Fatfi protocol:
FAT: FatFi Gorvenance token
The FAT token is intended to perform several functions, all of which come down to one primary value proposition: protocol ownership.
l FAT holders can receive incentives the protocol fee in term of FAT.
l FAT holders can use their tokens to vote on governance proposals regarding changes and upgrades to the protocol.
FAC: Fatfi Cash — Fatfi Algorithm Stablecoin.
Fatfi Cash tokens are designed to be used as a medium of exchange. The built-in stability mechanism expands and contracts their supply, maintaining the price of 1$.
FAB — Fatfi Bonds
Fatfi Bonds are minted and redeemed to incentivize changes in the Fatfi Cash supply. Bonds are always on sale to Fatfi Cash holders, although purchases are expected to be made at a price below 1 Fatfi Cash. At any given time, holders are able to exchange their bonds to Fatfi Cash tokens in the Fatfi Cash Treasury. Upon redemption, they are able to convert 1 Fatfi Bond to 1 Fatfi Cash, earning them a premium on their previous bond purchases.
Bonds in Fatfi Cash do not have expiration dates. All holders are able to convert their bonds to Fatfi Cash tokens, as long as the Treasury has a positive FAC balance.
FAS — Fatfi Shares
Fatfi Shares loosely represent the value of the Fatfi Cash network. Increased demand for Fatfi Cash results in new Fatfi Cash tokens to be minted and distributed to Fatfi Shareholders, provided that the Treasury is sufficiently full.
Holders of Fatfi Share tokens can claim a pro-rata share of Fatfi Cash tokens accumulated to the Boardroom contract
Stabilization Mechanism
When Fatfi Cash is below $1
When Fatfi Cash is traded below $1, users will be able to purchase Fatfi Bonds at a certain discount to establish the price stability of Fatfi Cash, with the expectation of future profits upon redemption.
Each bond promises the holder exactly 1 Fatfi at some point in the future under certain conditions. Whenever a user purchases Fatfi Cash, it is burned, causing a decrease in the circulating cash supply. Bonds do not have interest payouts, nor do they have maturity or expiration dates. Rather, they can be redeemed on a 1:1 ratio with Fatfi Cash when the price rises above $1.
Purchased bonds can be redeemed on a 1:1 ratio with cash only when the oracle price of cash is above $1. This prevents bondholders from cutting their losses on redemptions and creating unnecessary increases in supply.
When Fatfi Cash exceeds $1
When the price of Fatfi Cash exceeds $1, the contract primarily allows bond redemptions to bond redeemers. Even after the bonds are redeemed, if the price of Fatfi Cash is traded above the price of $1, an increase in the demand of Fatfi Cash results in new Fatfi Cash tokens being minted and distributed to Fatfi Share holders.
For instance, let’s assume that the price of Fatfi Cash exceeds $1 even after bond redemption. In this case, the Treasury contract mints new Fatfi Cash seigniorage into existence. This seigniorage is given to the Boardroom, where users can stake Fatfi Shares and earn daily seigniorage based on the price of Fatfi Cash.
Fat is the governance token of Fatfi. FAT offers control over the Fatfi protocol governance, the FAT token community treasury, the protocol fee, and also receive incentives by participating in the platform.
Token Name: FAT
Token Standard: BEP-20
Token Type: Utility, Governance
Total Token Supply: 120,000,000.00
Hard cap($): $852,000.00
Initial Circulating Supply: 20.75%
Initial Cap ($): $249,000.00
Private Sale Token Allocation: 67% of Total Token Supply
Private Sale Token Price: 1 FAT = $0,01
Private Sale Vesting: Initial unlock 25% vesting 25% every 3 months starting from the 3rd month
Public Distribution Allocation: 4% of Total Token Supply
Public Distribution Price: 1 FAT = $0,01
Public Distribution Vesting: Initial unlock 100%
First pool details:
- Token Name: Fatfi (FAT)
- Total tokens allocated: 1,600,000 FAT
- Total slots: 50
- Min buy: 0.1 BNB
- Max buy: 0.7143 BNB
- Token sale format: First come, First serve
- Start Time: 15th Mar 2021 at 01:00 PM UTC
- Claim Token Time: 15th Mar 2021 03:00 PM UTC
The second pool will be for GUM holders and Liquidity Providers, with a minimum holding of/liquidity providing on Uniswap that equal to 2,000 GUM (at least 3 days before the IDO date).
* Participants in the second pool STILL have to pass the whitelist. Top 30 Strong Holders still get the chance to participate in the second pool.
Second pool details:
- Token Name: Fatfi (FAT)
- Hardcap: 26,000 BUSD
- Total tokens allocated: 2,600,000 FAT
- Total slots: 130
- Min buy: 0.1 BNB
- Max buy: 0.7143 BNB
- Token sale format: First come, first serve
- Start Time: 15th Mar 2021 at 01:00 PM UTC
- Claim Token Time: 15th Mar 2021 03:00 PM UTC
Important Note: There is no due date for Liquidity Providers.
2. Public Pool
The Public pool will be open for the public, non-GUM holders. Participants will still have to pass the whitelist to participate in the pool.
Public pool details:
- Token Name: Fatfi (FAT)
- Hardcap: 8,000 BUSD
- Total tokens allocated: 800,000 FAT
- Total slots: 40
- Min buy: 0.1 BNB
- Max buy: 0.7143 BNB
- Token sale format: Lottery among whitelist participants
- Start Time: 15th Mar 2021 at 01:00 PM UTC
- Claim Token Time: 15th Mar 2021 03:00 PM UTC
All you need to know about Fatfi IDO before the Launch Date
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB …
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
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
The Public Sale date is close, and Fatfi will open it public sale on GUM Pad. Here is what you need to check once again before participate in our Public Sale.
1. Prepare your BSC wallet.
In order to participate in the IDO, users must have a BSC wallet, and sufficient amount of BNB (BEP-20) in it.
YOU MUST TO CONNECT YOUR BINANCE SMART CHAIN TO JOIN FAT IDO
How to connect your Metamask wallet to Binance Smart Chain? Read here
Connecting MetaMask to Binance Smart Chain | Binance Academy
Friendly reminder: The currency used in our Public Sale is BNB, NOT BUSD.
2. How to participate in the IDO?
- Read the how-to Article from Gourmet Galaxy Team here:
- Watch the Step-by-step video instruction here: https://t.me/gourmetgalaxy/139
3. How do I know if I get whitelisted or not?
- Simply put your BEP-20 address that you filled in your whitelist application form here
“Congratulations” mean:
- If you hold more than 2,000 GUM. You are at pool 2 (Only for GUM-holder)
- If you are a non-holder. You are at pool 3 (Public Pool)
4. Add FAT Token
You must add custom token to your Metamask wallet.
- In MetaMask, Click on “Add Token”
- Choose “Custom Token” and copy the following contract address to the box:
0x90e767a68a7d707b74d569c8e79f9bbb79b98a8b
- Click on “Next” and “Add tokens”
- FATfi in your area ❤
5. Pools information?
Detailed information about our pools can be found here.
Please connect your Meta Mask to Binance Smart Chain to see the pool!
The allocation for each users in the second pool (GUM Holders pool) is
- Min buy: 0.1 BNB
- Max buy: 0.7143 BNB
The allocation for each users in the third pool (public non-GUM-Holders pool)
- Min buy: 0.1 BNB
- Max buy: 0.7143 BNB
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 Fatfi 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
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Find more information Fatfi
☞ Website ☞ Explorer ☞ Whitepaper ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Coinmarketcap
🔺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
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