What is the EFI token?
EFI is the native token of Efinity blockchain.
What is the EFI token used for?
- Transaction fees on the network
What is EFI?
Efinity is a Polkadot parachain meant to enable cross-chain transfers and seamless integration of NFTs for applications.
How does Efinity work?
The blockchain introduces paratokens – NFTs, groups of NFTS, EFI or any bridged token.
- 10 active nodes maintain network and state.
- Earn rewards from Collator pool.
- Need to stake ENJ
- Do not earn rewards when offline
- If offline over a period of time the next in line with highest ENJ stake takes their slot.
- EFI stakers delegate toward a collator of their choice.
EfinitySwap – Native marketplace
Efinity features automated conversion that completes bids or asks for any paratoken.
- Anyone can place a bid for an NFT in another NFT, EFI or any bridged token.
- The NFT or NFT group doesn’t have to be bridged or exist to have a current bid.
Transactions can include a signature for another wallet to pay for transactions. This enables applications to easily subsidize transaction fees for users.
- Orders have a 2.5% transaction fee and are distributed to pools on the network.
- Collator – Rewards to Collators.
- Community – Ecosystem funds.
- Price discovery – Distributes EFI to Top bids for each Paratoken until filled or overtaken by other bid.
- Fuel tank – May be used for EFI transaction fees.
On-chain price discovery incentive
The highest bid on any token receives a share of fees and earns weight in the Price Discovery Pool for a given token.
Voters may receieve a small reward in EFI to incetivize participation.
Total supply: 2 000 000 000
- Ecosystem – 35%
- Staking – 15%
- Company – 20%
- Team – 10%
- Seed round – 3%
- Early round – 7%
- Strategic round – 5%
- Public sale – 5%
EFI token sale
- Seed sale price: $0.05
- Early round price: $0.06
- Strategic round price: $0.075
- Public sale price: $0.20