Concepts
Token
$FERRY: its fixed supply, the public launch, and the protocol's share, which goes to buying and burning it.
| Parameter | Value |
|---|---|
| Ticker | $FERRY |
| Supply | 1,000,000,000, fixed |
| Public launch | 100% of the supply, on the same terms for everyone |
| Fee source | The spread |
| Protocol's share | 20% of what pools earn from the spread |
| Buy and burn | 100% of the protocol's share goes to buying $FERRY on the market and burning it |
Supply and launch
There are 1,000,000,000 $FERRY, and no more are minted. All of them go to the public launch, where everyone takes part on the same terms.
There is no presale, team, investor, airdrop or reserved allocation, and nothing vests.
The protocol's share
Ferry's fee is the spread. On a send, everything the market route delivers beyond the payment is the receiving pool's earnings. At a fixing, the residual earns the fixing spread the same way, and the matched part pays none. Currency pools walks through both.
Of what a pool earns, 80% stays in the pool and raises the value of every share. The other 20% is the protocol's share: the program adds it to the pool account's protocol fees, held in the pool's vault next to its liquidity, and collect_protocol_fees moves it to the protocol treasury. See Addresses and instructions.
Buy and burn
The protocol's share has one job: buying $FERRY on the market and burning it. Burned tokens leave the supply.