💵FOTF Treasury Backing
FOTF retains ENCTR in the Treasury for Backing
Last updated
FOTF retains ENCTR in the Treasury for Backing
Last updated
FOTF Maintains a certain amount of it's treasury in ENCTR rather than being locked straight into Stablecoin as we can be earning on our treasury. This is a form of Yield Farming to constantly be increasing a portion of our treasury separate from the ETH market.
The Treasury farms a constant amount of 120 ENCTR which we retain in wrapped ENCTR known as gENCTR. This number is added to each time the treasury has money come into it at a rate of 40%, meaning 15% of all money into or out of the treasury goes to purchasing ENCTR rather than lock it into Stablecoins.
You can check the price of ENCTR here:
Remember, FOTF does also have a set amount of 200 sENCTR at all times locked for the Birth Certificate Holder yield farming which is included in our total treasury amount breakdown.
As with everything we aim to be as transparent as possible. You can track all ENCTR movement via the Treasury Wallet: 0x352F6Aa85C8584FC29aDDA8Ee31FAf051495528d
