The FON native currency has a profound logical connection with the value, incentive, governance and security of the underlying FON smart chain, which embodies the value characteristics of FON.
■From the perspective of value, FON embodies the carrier of “trust value” and “consensus value”; ■From an incentive perspective, FON is an economic reward that encourages the participation of “bookkeepers” in the network;
â– From a governance perspective, FON native currency is the equity certificate for participating in the FON smart chain network;
â– From a security perspective, the existence of value incentives improves the network security of the FON smart chain.
FON will run on the FON Smart Chain just like ETH runs on Ethereum, therefore, it is the "native currency" of the FON Smart Chain. This means that in addition to FON being used to pay most of the fees on the FON smart chain, it will also be used to:
■Pay the “fee” to deploy smart contracts on the FON smart chain
â– Pledge the selected FON smart chain verifier and receive corresponding rewards
Equity pledge and on-chain governance
APoS realizes decentralized community governance. You can see similar ideas from other networks, notably Cosmos and EOS. Its core logic can be summarized as follows.
Token holders, including validators, can “lock” their tokens into staking. Token holders can delegate their tokens to any validator or a validator candidate. They can then reselect a different validator or candidate to delegate their tokens to.
All validator candidates will be sorted by the number of delegated tokens they have received, and the top ones will become the real validators.
The verifier and the delegator can release the pledge at any time through the verifier’s rights.
FSC equity pledge
Ideally, such staking and reward issuance logic should be included in the blockchain and executed automatically when new blocks are produced. This is how the Cosmos Hub, which uses the Tendermint consensus library like the FON smart chain, works.
FSC wants to be as compatible with Ethereum as possible, and implementing APoS directly on it is a huge challenge and pressure. This is especially true when you consider that Ethereum itself may be migrating to a PoS consensus protocol in short order (or longer). In order to maintain the compatibility of Ethereum, our staking logic in FSC is:
The pledged currency is FON because it is the native currency on FSC.
In FSC’s equity pledge and delegation behavior, the FSC validator set is determined by its equity pledge and delegation logic. The equity pledge module built on FSC rewards distribution on FSC occurs every 3 hours.
FON is the token for FSC equity pledge.
To maintain compatibility with the Ethereum consensus protocol, including upcoming upgrades, FSC has chosen independent staking management. In the FSC stake staking module. It will accept FSC stakes from FON holders and calculate the set of nodes with the largest stakes. Every 3 hours, the ranking of block producers is refreshed and FSC is notified to update its validator set.
Before generating a new block, existing FSC validators regularly check whether there is a "ValidatorSetUpdate" message forwarded to FSC. If so, they will update the validator set after a certain height (i.e. a predefined block interval). For example, if FSC generates a block every 5 seconds and the check period is 240 blocks, then the current validator set will check and update the validator set for the next period in 1200 seconds (20 minutes).
award
Validator set updates and reward distribution both occur every 3 hours. This can better make the FSC network validators healthier and also make the validators more active. Rewards will be issued directly to the validator address.
In the future, the circulation value of FSC will be reflected in the following aspects:
Ecological circulation
Based on the FON smart chain, many applications will be derived, such as mining wallets, DEX exchanges, blockchain payments, etc., while FON and its tokens on the chain can be exchanged with all digital currencies, supporting the ecosystem. All circulation transactions and payments in all aspects, such as receipts and payments, transfers, legal currency transactions, deposits, withdrawals, currency voting, STO gateways, currency distribution, lending, charity, games, shopping malls, etc., are all served by FON tokens. And settle with legal currencies from all over the world.
In addition to circulation within the FON smart chain ecosystem, it will also be circulated within third-party applications developed based on public chain technology and exist as the only value token. This will accelerate the circulation of FON and its tokens on the chain, add more circulation value attributes to the scarce FON, and increase the overall value and price.
In terms of versatility
The FON smart chain can adapt to diverse business needs and meet data sharing across business chains. This means that the FON smart chain has a sufficiently common and standard way of recording data, and can represent various structured and unstructured information. , and can meet the cross-chain requirements required as the business scope expands. This provides a value basis for the versatility of FON tokens. This allows FON and its tokens on the chain to circulate more easily in various industries and scenarios around the world.
The FON smart chain will issue FON public chain coins. FON is a token issued to encourage users and third-party partners to participate in ecological construction and other activities, and is redeemable for the internal value resources and rights of the FON smart chain. At the same time, FON smart chain, as an underlying infrastructure that integrates multi-form digital assets, can derive more other smart assets through financial smart contracts. In the future, the FSC public chain will drive the value growth of FON through more innovative models.
FON economic model
Fonvity (FON) Smart Chain Explorer
The total number of native FON tokens is 26 million.
The top 21 nodes will receive node block rewards
FON Smart Chain is used for effective governance proposals to enrich the healthy development of the ecosystem
Creating a node requires a creator, who pledges 9999 FON to create it.
The maximum number of alliance nodes is 99, and cannot be created after exceeding the limit.
The top 21 nodes are core nodes and can directly initiate core proposals for governance.
The person who created the node can exit the alliance node at any time, and 9999 FON will also be returned.
Node election method, voting for nodes through FON pledge
Nodes refresh their rankings every three hours
FON runs on FSC in the same way that ETH runs on Ethereum, so it is an FSC "native token".
This means that in addition to being used to pay most handling fees on the FON smart chain and DEX, FON will also be used for:
Pay the handling fee for deploying smart contracts on FSC
Pledge the rights and interests of the selected FSC verifiers and obtain corresponding rewards.
Perform cross-chain, transaction and other operations, such as FSC transfer token assets
Roselle economic model
Introduction
Roselle is the platform token of RosSwap and the NFT trading market. It is a value token with product support. Roselle is also the first benchmark ecosystem and ten thousand times ecosystem of FSC. Its economic model has decentralization, scarcity, liquidity, applicability, provides users with pledge rewards, participates in ecosystem growth and other benefits. Roselle is designed to be a secure and efficient medium of exchange that supports all trading ecosystems.
origin
Completed with multiple collateral mining
• Wfon-Usdt LP staking mining
• NFT staking mining
• NFTs pledge mining
• Wfon native currency pledge mining
total amount
2.1 million pieces Mining cycle: 5184000 Block mining ends
Mechanism details
Transaction rate
• Buy-in rate: 3% • Selling rate: 3% • Transfer fee: 3%
Conditions of issuance The generated rates will first be temporarily stored in the Roselle token contract.
When the total of 10 Roselles is completed, it will be automatically executed by the contract.
• 37% of Roselle liquidity converted to WFON
• 62% of Roselle will be burned (View burning deflation address)
• 1% of Roselle will be added to the Roselle-Fon flow pool
Roselle generates transaction reward distribution method
Reward distribution ratio: 60% will be allocated to the market, 40% will be transferred to the black hole to destroy FON 60% of the rewards will be accumulated (value equity system) and distributed in the form of equity dividends
ecological development
Ecological Development Fund 23% Ecology will better operate and build Roselle
What is WFON coin?
WFON is an FRC-20 token on the FON smart chain that is linked to the price of FON.
WFON is an FRC-20 token on the FON smart chain linked to the FON price (1:1). Although FON, the native token of FON smart chain, can be used to pay for gas, WFON cannot. But WFON has wider uses than FON and has become very popular in the decentralized finance (DeFi) ecosystem.
Almost all wallets in the FON smart chain network will support WFON. Wrapped FSC(FON) is a token pegged to FSC(FON). Wrapped FON coins are suitable for many platforms and decentralized applications that support FRC-20 tokens. Although (FON coin) can be used to pay network transaction fees, its function is different from the FRC-20 token (WFON coin).
You can easily convert FON coins into wrapped FON coins through the wrapping process. You can also exchange packaged FON coins back for FON coins at any time. Both wrapping and unwrapping follow a 1:1 ratio, meaning there are no additional fees other than transaction fees. By interacting with the packaging FON coin smart contract, you can manually wrap FON coins, and the smart contract will store your FON coins and return an equal amount of wrapped FON coins. The decentralized finance (DeFi) ecosystem of FON Smart Chain is quite large, and the use of wrapped FON coins provides more opportunities for pledge investment.
Why do we need to package FON coins?
At first, the confusing point was: why does a token like wrapped FON coins exist? Doesn’t the FON blockchain already have FON coins?
The first thing to understand is that not every token on FON is technically similar. The network allows developers to create new rules and standards for cryptocurrencies.
One example is in the form of FRC-721, which gives us non-fungible tokens (NFTs). These are very different from FON coins or FRC-20 tokens. Developers have a lot of room for customization when creating these digital assets. Therefore, while (FON coins) can be used to pay for gas on the FON smart chain, FON coins cannot be used in all decentralized applications.
Today, most DeFi decentralized applications accept FRC-20 tokens for investment and staking. If you want to inject (FON coins) into liquidity pools or use them as collateral, it will be much easier to use (WFON coins) in the FRC-20 version. This provides maximum compatibility across the entire blockchain and saves time in developing new smart contracts.