Ignite Finance — the first DeFi 3.0 Finance on Klaytn. IgniteFinance's vision - to make it easier and more convenient for investors who want to monetize DeFi to deliver high and sustainable returns.
About Ignite Finance
Ignite Finance aims to solve the existing limitations in an intermediate way that takes advantage of the advantages of each and minimizes all disadvantages. The team will maintain the value of DeFi 2.0 with aggressive buyback and burn features that ensure that high yield appeal remains as long as possible. In addition, by investing the assets (= treasuries), accumulated by Ignite Finance through the sale of bonds, etc., in various DeFi projects on the multi-chain, a more stable growth engine is provided.
Ignite Finance will pursue price stability through active buybacks and token burns. In addition to the simple price aspect, this, along with the stability of the APY and interest rates, will ensure sustainable growth.
IgniteFinance plans to implement and expand core, buyback and burn, through the following methods:
| NFT burning | If you want to recover your initial investment in Vulcan NFT, required for FaaS, you can recover your initial investment by burning NFTs. This recovery, returned from the NFT burn, will be subject to a fee. |
| NFT Mint | All NFT sales revenue, used for FaaS and IaaS, will be used for buyback and burning. |
| NFT Marketplace | All NFT transactions on marketplaces, operated by IgniteFinance, such as FaaS or IaaS NFT, are subject to a 3% fee. All 3% commission will be used for burning. |
| Treasury | 20% of the assets, accumulated in the treasury of Ignite Finance, will help to buy back and burn $TINDER. |
When you buy and stake TINDER, you earn a percentage of the offer (market cap) that stays close to constant. This is because your TINDER staking balance also increases along with your circulating supply. The implication is that if you buy TINDER when the market cap is low, you will get a higher percentage of the market cap.
More about defi app
Rebase — the mechanism by which your TINDER balance automatically increases. When the protocol creates a new TINDER, most of it goes to the stakers. Since stakers only see the staked TINDER balance and not TINDER, the protocol uses a rebasing mechanism to increment the staked TINDER balance so that 1 staked TINDER can always be exchanged for 1 TINDER.