WRA is the governance token of the WrapFi protocol, and its main functions are:
●To encourage WrapFi users, especially Liquidity Providers, to build the WrapFi ecosystem with the team together.
● Governance of WrapFi’s ecosystem. It is required when adjusting business parameters, submitting token-listing proposals, etc..
● WRA can also be staked to share the WrapFi protocol's income.
● Commission discount.
The total amount of WRA tokens is capped at 100 million, without any additional issuance. In order to ensure Fair Launch, the only way to distribute WRA Token in the Genesis phase is through liquidity-mining of IBT assets, such as the Mint of the StaFi protocol rToken and providing liquidity.
Also to ensure that WrapFi users can get the greatest incentives, we reserve 60% of the token to motivate WrapFi users, mainly DEX Traders and Liquidity Providers. This part of Token will be locked until WrapFi DEX is officially launched.
The proportion of Staking Reserve is 15%, which will be distributed to WRA Token Stakers (6%), FIS Token Stakers (4%), StaFi rToken LP 2 (5%); Development Fund (10%). The last one is used for the development of WrapFi protocol, burying engineering costs, etc. Plus, Eco Fund accounts for 5%, which is mainly for Marketing, partnerships, and listing fees.
Except for the Genesis Tokens(10%), other parts of the tokens will be gradually unlocked in 4 years since the fourth month of the Genesis. The details are in this table: