💰CAMEL Info
The launch plan is not released yet, so there is no $Camel token in circulation now.
What is a CAMEL token?
CAMEL is the governance token of camel protocol, which follows the ERC-20 standard. It will also capture the economic benefits of the protocol. There will be a total of 200 million CAMEL tokens.
Ticker: CAMEL
Contract Address: 0x3240c866A2445bA903C6B0738cB5Ad0C4Bf47Ca4
Chain: Polygon (ERC20)
CAMEL distribution
CAMEL token will be released over 4 years with a decaying schedule, and the distribution describes as follows:
Fair Launch: 60% of the token supply will be allocated for liquidity mining of CAMEL token, it is released with the chart below. You can see the pool allocation here.
Development Fund: 15% of the token supply will be allocated for the core development team. It is released with the chart below.
Warchest Fund: 10% of the token supply will be reserved for future strategic expenses.
Future Investor: 10% of the token supply will be reserved for future investors in subsequent funding rounds.
Insurance fund: 5% of the token supply is used for insurance.
Note: all CAMEL tokens are pre-mined and will be locked in corresponding smart contracts. For more details, see here.
Token unlock chart, and the weight is adjusted every 3 months, here is the percentage per season:
The table below describes the details of the token release schedule:
Token Release Percentage
Fair Launch Tokens
Team Tokens
15%
18000000
4500000
7.5%
9000000
2250000
7.24%
8688000
2172000
6.98%
8376000
2094000
6.71%
8052000
2013000
6.45%
7740000
1935000
6.19%
7428000
1857000
5.93%
7116000
1779000
5.67%
6804000
1701000
5.4%
6480000
1620000
5.14%
6168000
1542000
4.88%
5856000
1464000
4.62%
5544000
1386000
4.36%
5232000
1308000
4.1%
4920000
1230000
3.83%
4596000
1149000
Token Utility
Protocol Governance
To participate in Governance, one needs to lock their CAMEL token to gain veCamel as voting power. CAMEL can be locked for up to 4 years. The number of veCamel you receive depends on the time you lock your CAMEL for. The minimum locking time is 1 week, and for every CAMEL locked, veCamel increases linearly from 0 to 1 as you increase your locking time from 0 to 4 years.
For more details, see here.
Obtaining economic benefits
Lenders can obtain interest returns and CAMEL rewards through deposits, and miners can obtain up to 9 times of farming income and CAMEL rewards by opening leveraged positions.
CAMEL holders can also lock their CAMEL token to gain veCamel to participate Weekly CAMEL Rebate. For more details, see here.
Increase leverage for leverage farming
Miners can increase their leverage by holding CAMEL tokens. The higher CAMEL a user holds, the higher leverage he/she can use:
Camel amount a user holds
Leverage
[0,200]
Default maximum leverage is 2x-9x,
which is different between the pools.
[200, 2000]
Default * 1.2
[2000, 20 000]
Default * 1.3
[20 000, 200 000]
Default * 1.4
[2 000 000, more]
Default * 1.5
We will launch this soon after the CAMEL token launching.
An increase in the value of CAMEL brought about by continued repurchase and deflation
Camel Finance will continue to invest platform revenue for CAMEL repurchase and destruction, which will achieve a deflation of the supply of CAMEL and allow participants to share the benefits of platform growth.
For more details, see here.
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