BOOFI Distribution

BooFinance has settled for a fair method of distribution.

The BOOFI token has a hard cap of 10,000,000 BOOFI tokens.

Cauldron Rewards (51%): It's essential to keep our allocation of Cauldron rewards as high as possible to incentivize liquidity inside our platform and therefore increase TVL. We've allocated over half (51%) of our total supply for this purpose alone, ensuring high APYs for initial BooFinance adopters. In addition, a sustainable BOOFI/second emission will be determined through the BooCouncil (Decentralized Governance). The most unique aspect of BOOFI emission is that none of the token emissions from Cauldron rewards are distributed as BOOFI itself, it is all distributed as zBOOFI! This encourages HODLing and discourages farm and dump practices.

Initial Token Sale (20%):

The initial token sale took place through the Penguin Finance Launchpad on the Avalanche network. The token valuation at the time of the token sale was $250,000. More details are available here. Unclaimed tokens from the IDO were distributed to iPEFI stakers through the BOOFI Iceberg in the Penguin Finance Club Penguin dApp. Details of the BOOFI Iceberg are available here.

Strategic Partnerships & Advisors (5%):

Established partners are a vital asset that enables us to reach existing communities and ecosystems. Although this is the smallest allocation, when put to good use with the right people, it could prove to be BooFinance's leading way of attracting new ghosts.

Advisors and partners will be an immense asset in improving BooFi's reach within Avalanche sphere and other networks of interest such as BSC, Polygon, and Fantom.

Development & Bug Bounties (5%):

This allocation will be used to hire the best solidity developers in the space; fund audits to secure our code, and reward our users for completing bug bounties.

Marketing & Community Growth (5%)

We understand that marketing plays a massive role in the success of a cryptocurrency. Unfortunately, countless projects with great teams fail to get a following because they have the technology but cannot promote themselves. For this reason, 5% of the total BOO supply will be used for marketing & design, giveaways, and strategic partnerships.

Foundation (14%)

This allocation won't be pre-allocated to the team to stay aligned with our vision of fair launches. The BooFinance Foundation will not receive the funds prematurely, and instead, it will be supplied as 14% of rewards minted by the smart contract, reducing volatility.