Cherry

What is Cherry Token?

Cherry Token is a fundamental element of MEVerse Connect's ecosystem.

Name: Cherry Token

Ticker/Symbol: CherryPick (Cherry)

Cherry Inflation Distribution

Inflation will be distributed to our pools and LP stakers. Cherry will be distributed to all types of pools, token-based or LP-based. Cherry is also a governance token (will be adjusted later) so holders may change this distribution ratio through governance consensus.

Mining Distribution Rates

Build Allocation

There is currently 1.1 Cherry mined per block (based on BSC). 0.1 Cherry/block, 9.09% of mined Cherry, goes to the build allocation which will be used to ensure sustainable development and innovation. The rest of them are distributed and burned effectively.

Build allocation will not be given directly to any individuals in the company. It will be managed by the company as a whole.

Deflationary Mechanisms

Fleta Connect combines yield optimization with an AMM protocol. Deflationary mechanisms occur in both processes.

  • Deposit fee is 0%.

  • There is withdrawal fee of 0.1% when withdrawing in 3 days after deposit. The fee will be 0% after 3 days.

  • When delegate farming, 80% of farmed tokens will be added to delegate farming fund and used to buyback and burn Cherry tokens. 20% of farmed tokens will be added in Dev allocation.

  • In Cherry Vault(BSC), 8.5% of yield is used to buyback Cherry and burned (sent to the dead address) and 1.5% of the yield is added in Dev allocation. The rest of the yield is given as a reward to liquidity providers.

  • In the Vault for Polygon, 26% of yield is used to buyback Cherry and burned (sent to the dead address) and 4% of the yield is added in Dev allocation. The rest of the yield is given as a reward to liquidity providers.

  • Vault fee is 10% for CLA-KLAY pair (8% of yield will be added to delegate fund and 2% of yield will be added to development rewards) and 3% for kCherry.

  • 100% of Cherry Vault (on profit) are burned.

The real-time deflation can be seen transparently on the Fleta Connect website.

As stated above, governance consensus may change the burning rate, block emission rate (inflation), fees, other factors important to deflation, and so on.

In details

Check below to discover how Cherry works.

PreviousPhase3 - DAONextKCherry (Klaytn)

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