Betfury is inviting the community to participate in a strategic decision-making process aimed at enhancing the value of the BFG token within the crypto market. The goal is to positively impact the token's price in the long term through collaborative efforts.
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Token Circulation Reduction: Betfury proposes to reduce the circulating supply of the BFG token and implement a lock mechanism on the blockchain. This move aims to alleviate pressure on the token's price and increase its value by creating a sense of scarcity.
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Introduction of stBFG: To facilitate the reduction in circulation supply and provide users with additional benefits, Betfury introduces the stBFG token. stBFG holders will enjoy double the Annual Percentage Rate (APR) in the BFG Staking Pool.
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Token Lock Mechanism: BFG tokens converted to stBFG will be locked for a period of one year. This lock mechanism ensures price stability, eliminates short-term speculative behavior, and contributes to the token's long-term growth and fortification of its value.
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Conversion Process: Users can convert their BFG tokens to stBFG, which will be locked on the on-chain contract. An early withdrawal fee applies if users choose to convert stBFG back to BFG before the one-year lock term ends.
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Distribution of Rewards: Rewards in the stBFG Staking Pool will be distributed from the current BFG Staking Pool. The distribution will be split between BFG and stBFG pools based on the number of tokens held by users.
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