New BFG Tokenomics & Deflationary Strategy Update
The BetFury team has worked to reinforce the BFG token’s value for several years. We have decided to modernize existing ecosystem mechanisms because our goal is to bring high transparency, improved deflation strategy, and BFG holder support. Discover the updated tokenomics and new buyback mechanism that will usher in a new era of the BFG token!
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New BFG Distribution
New BFG tokenomics allows users to track the distribution of a team's tokens across multiple streams. They will be located at public addresses, demonstrating a movement towards the highest transparency. Let's look at the pie chart of the BFG distribution:
- 5 000 000 000 BFG (100%) – the total emission (the number of tokens received through a BFG Mining phase until June 13, 2023).
- 1 665 842 606 BFG (33.3%) – the total number of tokens burned. They are not part of the circulating supply and do not exist on the market.
- 1 000 000 000 BFG (20%) – team tokens locked for three years in a BFG Staking pool. These assets are not subject to double APY and can be fully returned only after 4.8 years. This process was done to confirm our confidence in the token’s growth.
- 388 827 999 (4.9%) – user tokens converted to stBFG and locked in the BFG Staking pool with a x2 APY boost.
- 1 269 592 272 BFG (26.2%) – the circulation supply on CoinMarketCap. We strive to reduce this percentage to increase the BFG value.
- 42 000 000 BFG (0.8%) – liquidity on crypto exchanges. It enables efficient trading outside BetFury and is vital to its healthy growth.
- 133 737 123 BFG (2.7%) – tokens allocated to stimulate demand for BFG through marketing initiatives and collaborations.
- 500 000 000 BFG (10%) – assets owned by the team for community development and various social events.
- 10 000 000 BFG (2%) — BFG tokens in a Treasury.
Token Utility & Sustainability
We have been sharing our revenue with users for over 4 years. Our GGR (Gross Gaming Revenue) displays the difference between the money users bet and win. You can see our GGR distribution on the screen below.
One part of GGR goes to Payouts: Admin fees (infrastructure costs and payments to third-party services), Bonuses, winnings, and Boosted Fixed-term Crypto Staking. This distribution also includes internal buyback if we don't have enough funds from lost BFG tokens to cover some payments (bonus or referral). For example, users can qualify for BTC Cashback in BFG. Then, we will exchange another crypto for BFG and issue a reward in the preferred currency.
The other part of GGR entirely fills our BFG Staking pool – the main long-term prospect for any BFG holder. This move demonstrates the team's desire to support BFG owners by ensuring high APY.
Therefore, our revenue affects BFG holders' profitability and token utility. BFG has three primary utilities that provide holders with many options for interacting with the token and receiving exclusive offers.
- Betting: Make bets in BetFury Originals, top casino games, and sports with high odds and other great features.
- Staking: Double the Staking APY and boost your rewards by converting BFG to stBFG.
- Trading: Exchange top crypto quickly and easily with Crypto Swap on BetFury.
BFG Burning & Treasury
Another direction of token support besides the Staking pool is BFG Burning. As you can see, over 33.3% of the tokens have already been burned, and the team has adopted a new strengthening deflationary strategy, including BFG Burn and Lock. Since BFG tokenomics has changed, we are introducing an efficient mechanism for redeeming tokens from the market. How does it happen?
Our team uses funds from the platform's revenue streams to redeem BFG tokens. This reduces the amount of assets in circulation and directs money in the right direction. The primary revenue streams include:
- Staked BFG by the BetFury team;
- Crypto staking penalty fee;
- Crypto swap fee;
- Borrowing liquidation and fee;
- Futures fee;
- stBFG early withdrawal fee.
A portion of these bought-back BFG goes toward monthly Burnings. In addition, the tokens package for Burning will be filled with lost BFG bets and 50% of the commission from early unstake stBFG. This Burning format confirms that the product can support the token and build a profitable ecosystem.
The other part of bought-back BFG tokens will go to BFG Lock (Treasury). This additional niche has one goal – to support BFG holders. All assets from the Treasury will be used to reward BFG or stBFG Staking participants, active platform users, etc. As in previous cases, accumulation will take place on a public contract.
💡 Read the BetFury Whitepaper if you want to learn more about the new tokenomics and revenue distribution.
To summarize the above, the BetFury team works for the long term. We spend the maximum effort analyzing the market and choosing the best path for the token's development. Our team will direct 100% of the iGaming revenue to the BFG Staking pool. The other part of the non-iGaming income will be used for BFG buybacks to fill our Burning and Treasury funds. Finally, we've locked one billion of our tokens for 4.8 years to argue how strongly BetFury believes in BFG and its value growth. If you haven't become a BFG holder yet, now is the time! Accumulate BFG on your balance and get ready for the impending Bull Run.
➡️ Earn on BetFury & Become the BFG Holder
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