Fate Blazing Stars
Fate Blazing Stars will be the currency of the ecosystem.
⭐ Fate Blazing Stars ($FBS) is the in-app digital currency used while exploring and partaking in the many innovative programs made available within the Finblox ecosystem.
In the first phase, users will be able to obtain FBS by swapping their stablecoins for FBS within the Finblox wallet for zero fees. Users will also earn additional FBS as rewards when they participate with FBS tokens and become winners in various games we plan to design, such as Destiny, our newest prediction market product.
🐱🏍 In the future, we will have other various upcoming mini-games that we are excited about and looking forward to providing to the community - so stay tuned!
FBS Utility The main utility of FBS is that it will be used as the main in-game currency for Destiny, our prediction market product. With Finblox Destiny, users can explore and choose from various events - and guess the outcomes for a chance to win prizes. Users are encouraged to perform research on their favourite events before participating in that event. Prizes are rewarded to users who hold the correct answer for the event outcome after resolution.
Supply and Demand The initial supply for FBS is unlimited. FBS is convertible via Finblox Swap with a fixed price ratio of US$1 for 1000 FBS tokens.
How do I purchase and redeem FBS? To buy FBS, you must deposit or already have stablecoins in your account. Simply swap these to FBS to receive your tokens! FBS can also be swapped back to stablecoins when you wish to redeem your winnings!
In the next phase for Fate Blazing Stars, we will begin to develop the:
Reaching different loyalty levels in Finblox allows you to earn FBS. Loyalty levels depend on the number of FBX tokens you hold, and the greater your loyalty - the more FBS you can earn. These stars can be spent on extra benefits, discounts, and bonuses for various programs and be applied to eligible digital assets.
How $FBS is utilised within each product?
- FBS will be used as the in-game currency for Destiny, our prediction market product.
- Earn and spend your stars to reduce your trading and swap fees.
- Use stars on events to reduce your loss.
- FBS turbo-boosts your Yield Generation on your favourite digital assets.
- FBS turbo-boosts your chance of winning in the pool drawing
Finblox and holders of FBX tokens that have been granted voting rights will carefully control the inflation rate of FBS. Multiple token generation events for FBS will occur as demands increase in the future to offset FBS token supply reductions due to burning making the FBS supply unlimited.
FBS will be burned by:
- 1.Profile NFTs Minting
- 2.Profile NFTs attribute minting
- 3.Repair and restore Profile NFTs
- 4.Upgrading Profile NFTs
Finblox Tokens (FBX) purchased by users will be kept in a liquidity pool called a Loyalty Pool. When users reach different loyalty levels determined by the number of FBX tokens they hold in the Loyalty pool - it will allow them to earn a certain number of FBS (Finblox Stars). Users who reach higher levels in the Loyalty program will earn a greater proportion of FBS for their loyalty. These stars can be spent on extra benefits on the products within the Finblox ecosystem, such as bonus APY, odds booster for our in-app game Pool Party, and trading fees for DestinyX.
Loyalty levels are determined by the average FBX holdings of a user over a one-month period. User accounts will be reviewed at the end of the month for the last 30 days to determine the value of the average holdings. Once the calculation is complete, the appropriate amount of FBS will be rewarded. FBS is only transferrable to other users who carry FBX tokens and are VIP community members.
Stars will be replenished to their maximum level monthly and can be spent on perishable benefits that also expire after one month. Unspent stars do not roll over into the next month. Users can re-spend stars and continue enjoying unique benefits if they maintain that loyalty level. However, if the user decides to sell their holdings - their benefits will eventually disappear, preventing abuse of our token.