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:
As with everything we aim to be as transparent as possible. You can track all ENCTR movement via the Treasury Wallet: 0x352F6Aa85C8584FC29aDDA8Ee31FAf051495528d
Remember, FOTF does also have a set amount of 200 sENCTR at all times locked for the yield farming which is included in our total treasury amount breakdown.
