Fortunas Finance X Cardinal House AMA Recap
A recap of our latest AMA with Cardinal House.
- Buy pressure for FRTNA mainly comes from rations, it gives FRTNA utility, since you need to buy FRTNA for a high APY.
- We limit the rewards to some extent to protect people who come in later than earlier.
- We want minting tokens to be a worst-case scenario.
Treasury funds will go to:
- Marketing by testing new markets.
- Developing new use cases.
- Paying staff
- Treasury might also be used to fill the reward wallet to support the APY.
Fortunas Finance’s number 1 priority will be to help grow Fortunas Finance as a protocol.
- Taxes from buys and sells go to either the treasury, liquidity pool or burn wallet.
- 7.5% of buy goes to the treasury and 2.5% goes to supporting Liquidity.
- 5% of sells go to the treasury, 2.5% goes to supporting liquidity and 2.5% is burnt.
- The Fortunas team played with the numbers early on, decreasing the APY in order to make it sustainable.
- We tweaked minor tokenomics as well in order to prevent exploitation and give out free rewards.
- The idea evolved from data modeling, simulations, and crunching numbers to make sure the system cannot be exploited in a very big way.
- The reward contract can mint tokens when it is at 0, this is so we have control of our supply based on the demands, by refilling the reward contract, we can prevent the minting of tokens to occur.
- We will expand past DeFi marketing limitations through gaming.
- We understand that it is difficult to break into the gaming market, but we want to take up the challenge to improve Fortunas Finance and DeFi in general.
- The art for the utility NFTs is coming soon.
- More revenue streams are coming which will help burn the existing supply.
- A Head-to-head browser game battle is coming, players can build an NFT character and take people on in the arena in order to earn extra rewards.
- We will be considering a credit card on-ramp in order to make it easier for gamers to participate in DeFi.
- We delayed the launch slightly to accommodate our secret partner, we would be launching with them and not Pinksale.
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