FAST tokens are the governance and utility token for Fast.Finance, which is building GoSwap and other great DeFi products. You will be able to participate and vote on governance decisions as well as get discounts and other earning opportunities on other Fast.Finance products/services.
GoSwap Distribution (Giveaway)
Tokens are distributed daily over 180 days, starting August 28th, 2020
90% goes to liquidity providers and 10% goes to traders
This ratio may change if, and only if, there's a large discrepancy between LPs and trading. If changes are to be made, they will be announced one day prior to the change taking affect.
Liquidity provider distribution will be based on percentages in all of the eligible pools based on USD value
For example, if you have $10,000 worth of liquidity and the total amount of liquidity across all main pools is $1,000,000 then you'd have 1% of all liquidity and would therefore get 1% of the daily FAST tokens for liquidity providers.
Liquidity must be in the pool for the entire day to be counted. If you remove some during the day and add it back, it will not be counted until the following day.
This is in addition to the 0.3% per transaction fee LP's also earn for every swap transaction
Trader distribution will be based on trading value in USD in all of the eligible pools
For example, if you trade $10,000 in value in one day and there is a total of $1,000,000 traded that day, you will earn 1% of the daily trader tokens
Tokens will be sent out within 24 hours of the end of the previous day
Day starts at 07:00 AM UTC and ends at 6:59 AM UTC
Day 1 starts August 28th at 7:00 AM UTC
The following graph shows the distribution amounts that will be given each day.
The following pools are eligible for earning FAST rewards:
All tokens available in the GoSwap user interface
Only in the pools that contain GO or FAST
For instance, GO/ETH, FAST/USDC, etc are eligible
ETH/USDC would not be eligible
The tokens must also have a USDC pair/pool with a minimum of $50 in liquidity, to be used for pricing
Note: ALL pools still earn the 0.3% transaction fee, not just the ones listed above.
10M Total Supply
3.5M for GoSwap rewards distribution
4M for future product distribution giveaway (NOTE: if no future product is released this will NOT be distributed and total supply will be reduced by 4M)
2.5M for research and development, marketing, legal and reserves