Buyback, Lock & Burn
Last updated
Last updated
The BetFury team supports a healthy tokeconomics and manages the token's deflationary strategy. The mechanism involves repurchasing tokens from the market using the BetFury team's revenue. The BetFury team is committed to fostering a healthy token economy and facilitating the continuous growth of the ecosystem. For these reasons, we have reinforced the BFG deflationary mechanism with additional processes.
The creation of a system with stBFG tokens is intended to have a positive impact on the growth of the value of BFG in the long term. To confirm our intentions and confidence in further BFG development, we have locked 1 000 000 000 team tokens for 3 years. After that, 5% of these tokens will be gradually unlocked monthly. In total, it takes us 4.8 years to get our tokens back. The BetFury team does not stake locked stBFG, so only you get double APY. Our team earns from the regular dividend pool and redirects these assets to the project's development.
Here is a link to the public contract where we have locked stBFG: →
The stBFG tokens, backed by BFG, are burned immediately when users make early withdrawals from the BFG Staking pool before the 1-year lock period, with a certain fee required where 50% of the fee is burned.
Lost BFG bets are directed toward bonus payouts, regular token burns, and the Treasury address.
The monthly burn of BFG tokens will no longer include the burning of losing gaming bets and team tokens. Losing bets will be redirected to the BFG Staking pool due to all the . However, the BFG tokens lost through bets are included in the token burn process.
When burned, the BFG tokens are permanently removed from circulation, decreasing the available supply. Token burns also contribute to investors' confidence as they demonstrate a commitment to managing token supply and maintaining long-term value.
Burning Smart Contract:
Every month, the BetFury team buys back tokens from the circulating supply using funds from the revenue streams mentioned above and locks them in a specialized wallet called Treasury. Once in a selected period, these bought-back BFG tokens will be incentivized to stBFG/BFG holders and active platform users. The team reserves the right to adjust the distribution terms.
📕Check the more detailed info about the deflationary strategy in the updated .