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fLIBERO Bank

1. What is fLIBERO BANK?

  • You lock fLIBERO (any period from 14 days to 4 years 4 years) in the fLIBERO Bank to receive xfLIBERO token as a receipt.
  • Proportionally, the longer you lock, the more xfLIBERO you will receive. A 4 year lock will give a 1:1 ratio of fLibero to xfLIBERO conversion.
  • By just holding xFLIBERO, everyday you get USDC / WFTM rewards from 10% FLIBERO trading volume, plus 1.5% LIBERO interest (auto-compound to 23,758.2% APY for you). You will get back your locked amount after 47 days if you lock for 4 years.
  • These amounts are calculated based on your proportion percentage of the overall xfLIBERO in circulation, this percentage gives you a proportional access to the funds accumulated from the pool collected from the 10% fLIBERO trading volume, accumulated from the buy&sell tax.
  • xfLIBERO holders will receive other benefit such as multichain-farming profits in the future
  • xfLIBERO holders can vote in our fLIBERO DAO governance for important factors, relevant to the token and the community, such as transaction tax change, etc.
  • You can unlock xfLIBERO and convert it back to fLIBERO before the end of the lock period, but beware, 90% of your locked fLIBERO will be deducted and distributed to current xfLIBERO holders.

2. Why fLIBERO Bank is an innovative feature that help the fLIBERO system long term?

How does fLIBERO Bank play a crucial part in keeping fLIBERO value sustainable long term?
1st. The more people that lock their fLIBERO to xfLIBERO, (usually from 2 week to 4 years), the less fLIBERO tokens are in circulation. The price of a token is based on supply/demand. So xfLIBERO will help reduce the supply and increased the demand of fLIBERO as new investors will have to purchase from the limited supply in circulation, this will support the fLIBERO price, long term. We are proud to announce, that fLIBERO Bank, is the first fixed APY project to implement such an innovative system.
2nd. The more fLIBERO that is locked, the less new fLIBERO is printed. This is due to the fact that when you lock your fLIBERO to xfLIBERO you receive the USDC / WFTM from the 10% of fLIBERO transaction volume and about 1.5% fLIBERO rewards everyday compounded to 23,758.2% a year. If you don't lock your fLIBERO, you will receive 2.04% rewards everyday. So 50% less fLIBERO is printed for all locked xfLIBERO which means less inflation.
3rd. xfLIBERO is a way for fLIBERO holders to receive USDC / WFTM rewards, this means that holders don't need to sell their fLIBERO to take profits or, if they do sell to take profits, they will sell less to realize their profit when added to the accumulated USDC / WFTM. So less selling pressure means better support price.
4th. Crypto markets go though fear and greed cycles and it is clear that we are currently in a fear period. Many people will appreciate their income in USDC because it feels safe being pegged to the USD. Rewarding USDC in this market makes fLIBERO more attractive in the eyes of potential buyers, raising buying pressure and lowering selling pressure is achieved and this is very important for project long term.
5th. New users will be comforted to see the diamond handed mentality of the fLibero userbase, knowing that so many users have put such trust into a project, for such an extended period, in a climate where projects are failing after a few weeks, knowing that there is a strong core base of long term investors, who have locked their fLibero for years, guaranteeing the foundation of the project, will help to stabilize and grow the value of the token over time. Summary: As you can see by locking you fLIBERO in the fLIBERO bank, not only benefits you (return within 47 days) but also benefits all fLIBERO holders and provides a great sense of community and longevity for new people entering into the system.

3. Locking mechanism explained.

The locking period will range from 14 days to 4 years, the basic idea is the longer the time you lock, the higher the number of xfLIBERO you will have. You can only keep or increase the lock time, you cannot lower your lock time.
So before you lock your fLIBERO you should consider how long you will commit your fLIBERO to this function.
You can unlock your xfLIBERO to fLIBERO before the time ends but you can only receive 10% of what you locked, the rest, the remaining 90%, is used to rewards the people who are still locked.
Therefore before locking your fLibero you should also decide how many percent of your fLIBERO will be used to lock for xLIBERO to receive passive income in fLibero and USDC / WFTM.
When you calculated the percentage, let's say for example that we will lock 30% of our total fLibero, you should then decide how long you will lock your 30% fLIBERO for xfLIBERO.
If you lock the fLibero for 4 years, your exchange of fLIBERO for xfLIBERO will be 1 fLIBERO is equal to 1 xfLIBERO
if you lock your fLibero for 1 year which is equal to 365 days, 1 fLIBERO = 365 / (365*4) = 0.25 xfLIBERO
Of course if you are not satisfied, you can increase your lock at anytime to receive more xfLIBERO.

4. USDC / WFTM rewards from fLIBERO Bank can be used to buy fLibero, Thoreum Tax Free.

When user claims their USDC / WFTM rewards, they will have 2 choices:
  1. 1.
    Claim to USDC / WFTM normally.
  2. 2.
    Or Use that USDC / WFTM to buy fLIBERO/THOREUM tax free
All our users love compounding their rewards and using them to grow, not only the value of their holding, but also the opportunity to receive more in the future. To retain as much funds inside the system we have initiated an open ended relationship with the other Tokens in the Thoreum network and from this great partnership we can allow our users to compound their earnings back into their favorite Thoreum based token tax free, bypassing the buy tax that usually is charged from buying these tokens. This will incentivize users to keep their money inside the ecosystem, stabilizing the value of the token and allowing it to grow naturally over time, it's a win-win for everyone.
So if a user likes a token, for example THOREUM, they can let their xfLIBERO rewards grow in unclaimed USDC / WFTM. When they see that Thoreum has a good buying opportunity, instead of claiming the USDC / WFTM and then buying the THOREUM where they will be taxed 13%, they can, instead, just click 1 button and the system will automatically buy THOREUM at the market value and send it to them immediately without paying the buy tax.

5. How to calculate my daily USDC / WFTM rewards.

The rewards depend on 2 factors.
The first is daily volume.
The second is your share percentage of the total locked xfLIBERO
If the daily volume is high but the number of locked xfLIBERO is also high your rewards might be lower than on other days, but during this time you will still be getting your daily rewards paid out in fLIBERO equal to 1.5%.
If the daily volume is high and the number of locked xLIBERO is low meaning you can have a larger percentage of the total xfLIBERO you will receive a larger share of the rewards, AND will also continue to receive your daily pay out of 1.5% fLIBERO also.
As you can see your daily takings in USDC / WFTM depend a lot on daily volume and how others are engaging with the fLIBERO bank on a daily basis.
The beauty of fLIBERO Bank is their will be a period of fluctuation in the early days as things settle down, but as the nature of the token will push people to lock their tokens for the maximum amount of time, this will mean a large percentage of all tokens will be locked, so will not fluctuate daily, this means that over time the amount of USDC / WFTM received by a user will also level off over time, as people find a spot where their USDC / WFTM rewards satisfies their requirements.