The Brinc.fi protocol has recently launched their DeFi 2.0 with a staking platform that heavily incentivizes early adopters with up to an incredible 800,000% APY. The Brinc.fi protocol has a unique dual token in which each of the tokens has completely different properties.
$BRC – The “stablecoin” of the protocol (with intrinsic value). Brinc.fi’s native token uses an unlimited token supply system where the more $BRC is minted; the more price goes up. Also, vice versa, if users sell the $BRC, the token is burned, and the price moves down. It’s the store-of-value of the protocol (and in the future, all of DeFi) because it’s actually reserve-backed.
The movement of the $BRC price is based on its bonding curve. Thus, volatility is minimized and it becomes the currency to transact with since it’s a relatively stable asset that is actually engineered to appreciate in price.
$gBRC – The governance token that acts as the keys to unlock all of the Brinc.fi protocol functions, including increased staking rewards. $gBRC is affected by supply and demand, much like a regular token or coin, and it’s what users receive as staking rewards on the app. As the Brinc.fi protocol expands with additional features and users, $gBRC will have increased demand.
Users staking on the Brinc.fi app are enjoying APYs up to 800,000% staking into the unique staking pools offered. Adjustments will be made made over time to sustain the massive rewards offered by staking, depending on the number of users and other data points.
The dual token model allows the protocol to alter the supply and demand of the rewards to keep it sustainable for the participants involved. As a result, both tokens are able to either retain their value or appreciate in price. Additionally, liquidity pools and multi-token staking pools risk impermanent loss — something that staking on Brinc.fi avoids.
Profits from Brinc, such as $BRC initial treasury funds, $gBRC pair funds, and protocol fees, are deposited into our treasury assets. The treasury will allow Brinc.fi to continuously reinvest in the protocol by buying back BRC and gBRC with those funds. In addition, the initial treasury $BRC will continuously burn $gBRC obtained through staking.
As the Brinc.fi ecosystem matures, other features, functions, and decentralized finance services will be built into the app that will also require $gBRC to either access, enhance, or gain fees from.
Brinc.fi is a decentralized team located in Seoul (KR), San Francisco (US), Los Angeles (US), Winnipeg (CAN), Manila (PHIL), Ibadan (NRA), and Vientiane(LAOS). It’s mission is to build solve the fundamental problems within the cryptocurrency sector by building disruptive apps for Defi 2.0.