The Satoshi Finance Token or "SFT" is the native token of the SatoshiFaces ecosystem. This utility token will be used to complete functions and access features on the Faces platform such as naming artworks, with more to come soon! Beyond that, SFTs will be used as the core utility token when interacting with Satoshi.Finance’s upcoming NFT x DeFi solution. To read more about it please go to https://satoshifaces.com/SFT.
Are SFTs pre-mined/pre-minted?
NO! These SFT’s will only be generated by holding artworks. There are no pre-minted team or advisor allocations. Embodying Satoshi’s ideals of decentralization.
The only way tokens will ever enter the circulating supply is through the 4999 Faces.
What can my SFT be used for?
Initially, SFT will only be required to complete name changes of SatoshiFace artworks. The further utility will be introduced with the release of our NFT x DeFi platform.
What is the total supply of SFT?
The maximum total supply is 36,912,116.1 SFT after 10 years. After the first year, the max supply is 11,622,675 SFT.
Is SFT deflationary or inflationary?
We do not at this moment burn any tokens however, we have implemented a deflationary mechanism to the supply, by manually reducing the minting rate and stopping the minting process entirely in 2031. A burn function is integrated into the contract so this may change in the future.
How many SFT will my SatoshiFace generate per day?
The SFT minting rate is deflationary. Initially, each Face will generate 5 SFT per day reducing at a rate of 25% per year. Meaning they will mint 3.75 SFT per day in the 2nd year, 2.81 SFT per day in the 3rd year, and so on. Faces will stop minting SFT entirely after 10 years.
What happens to the tokens I use to pay for a name change?
The 250 SFT used to change the name are sent to the contract address. They will be used to fuel the SatoshiFaces ecosystem as we develop the platform further.