By becoming the early adopters of the project, Liquidity Providers can also mine LFI (the Governance Token of Levf Finance) in addition to earning the interest from liquidity provided.
LFI token distribution
Total LFI supply: 100,000 tokens, 10% pre-minted for IDO liquidity and initial expenses, 90% to be minted over 20 weeks (10 epochs of 14 days each) during the Governance Forming event, distributed as follows:
10,000 tokens will be pre-minted as project jump starter. It is minted for expenses such as listing fees, audits, liquidity for partnerships etc.
75,000 tokens will be distributed to Liquidity Providers who joined during the Governance Forming event. Tokens are minted by LPs proportional to how many DAI per second (dsec) they provided to the system for the duration of the event. The mining phase for this portion will be over 10 epochs i.e. 7,500 tokens distributed each epoch. (see next section LEVF - HOW TO MINE LFI)
15,000 tokens will be allocated to the team and operational treasury (including but not limited to liquidity creations in Uniswaps and DEXs etc). These tokens will be unlocked alongside liquidity mining across the 10 epochs.
LFI will IDO (Initial Dex Offering) on Uniswap at launch.
LFI Special Feature (RFI-Static Reward)
Whenever an LFI holder sells his tokens, 10% of the tokens will be taken and re-distributed to all existing LFI holders in a pro-rated manner (the seller will only receive 90% of his sale value).
LFI token utility
LFI is the encoded token used to vote on the Levf Improvement Proposal System (L.I.P.S.), and to decide on how features are added to the Levf ecosystem (and other matters) when the project is handed over to Governance.
LFI token holders are also the owners of the Reserve Pool, where the 10% taxes on yield farmers’ net profit are accumulated.
Other utilities include:
1. Create governance proposals and decide on new initiatives.
2. Decide on changes in interest rates, lending period and lending features.
3. Vote on new aggregators and asset types to adapt to.