$COVAL and $FUEL FTW!
Emblem is a dual token economy meant to drive value for all participants. $FUEL is a transactional token meant only to be used within the Emblem platform. $COVAL is a utility token to be used within and outside of the Emblem platform.
It all starts with Emblem Vault
With the launch of Emblem Vault, there is new value to the $COVAL economy. As the Emblem platform gets promoted and adopted in various industries, we expect to see growing demand for $COVAL tokens.
$COVAL can be used to create vaults and will be used for other activities within the Emblem platform along with uses outside of Emblem.
$FUEL can be used for activity only within the Emblem platform. Using $FUEL provides a discount to create vaults and other future Emblem platform fun.
Perpetual Liquidity (Post Launch)
The Emblem platform and Circuits of Value ecosystem were built to allow everyone to participate in decentralized finance (DeFi!). As people acquire Emblem Vaults, all $COVAL collected during the launch will be burned, lowering the total/circulating supply and making the remaining $COVAL a bit more scarce.
How will it work? A simple example says it all:
- Tarriq deposits 200 $FUEL into the pool.
- Emblem Vault company matches Tarriq’s deposit of 200 $FUEL
[The pool has 400 $FUEL total with Tarriq at 50% of the pool and Emblem Company at 50% of the pool.]
- Sally purchases 200 $FUEL from the pool using .5ETH
- The pool is now at 200 $FUEL and has .5ETH
- Tarriq has 50% of the pool with 100 Fuel
- Emblem Vault company maintains their 50% pool position 100 $FUEL
- Upon ETH withdrawal, ETH and $COVAL get distributed throughout the ecosystem (This is where it gets amazing…)
- 50% of the ETH gets distributed back to the pool participants based on the percentage of $FUEL they have in the pool. WIN!
- 25% of the ETH goes to fund further development.
- 10% of the ETH will be used to buy $COVAL from the market and burn
- 5% of the ETH will go to additional rewards and liquidity needs. Hey! Let’s make sure we have resources to throw at the broader $COVAL community needs.
- 10% of the ETH will be used to buy $COVAL from the market and distribute as rewards to the pool!
OK! As we launch Emblem Vault, we want to create a sustainable, awesome token model that benefits all! At launch, the creation of an Emblem Vault for storage, sale, or transfer of digital assets will be priced at a special rate of 300 $COVAL. This is currently set in the contract to reflect an approximate price of 3 $USD. Although Emblem Vaults will change in price to reflect the market conditions of $COVAL, the sooner you get in, the cheaper and more valuable your Emblem Vaults are!