What is TokenFi (TOKEN)? – Bitfinex blog

4 Mins read

What is TokenFi (TOKEN)?

TokenFi emerges as a pioneering all-in-one tokenization platform aimed at simplifying the creation and tokenization of assets for a broad audience. With a user-friendly What You See Is What You Get (WYSIWYG) interface, TokenFi democratises access to token creation, enabling users without any coding experience to generate tokens in minutes. This innovative approach addresses a significant barrier in the crypto space by offering a streamlined process for launching crypto tokens and tokenizing Real World Assets (RWA), thereby tapping into the burgeoning tokenization market projected to reach $16 trillion by 2030.

At the core of TokenFi’s ecosystem is the TOKEN coin, serving as the main utility token that powers a suite of products designed to facilitate various aspects of the tokenization journey. These include the TokenFi Token Launcher for creating crypto tokens, TokenFi QuickLaunch Bot for mobile token creation via Telegram and Discord, TokenFi Launchpad for decentralised fundraising, and several AI-driven tools such as TokenFi Generative AI for NFT artwork generation and TokenFi AI Smart Contract Auditor for security. Each product is intricately designed to remove technical complexities, making tokenization accessible to a wider audience.

TokenFi’s strategic direction is underscored by its affiliation with the Floki project and governance through the Floki DAO, leveraging the expertise that catapulted the Floki token to global recognition. The platform’s ambition to revolutionise the tokenization industry is backed by a robust technical and operational framework, ensuring that users can easily create, audit, and launch tokens and RWAs with confidence. By aligning with significant partners such as Chainlink for the RWA Tokenization Module, TokenFi sets a foundation for secure and versatile tokenization solutions.

TokenFi’s initiative to foster user engagement and adoption through a comprehensive User Incentives System highlights its commitment to establishing a dominant position in the tokenization marketplace. This system rewards platform activities with $TOKEN, aligning user participation with the platform’s growth and utility enhancement. As TokenFi propels towards its goal of industry leadership, its innovative platform, strategic partnerships, and incentivization strategies position it as a formidable force in the evolution of digital assets and tokenization.

What is the TOKEN coin?

The TOKEN coin is the central utility token of the TokenFi platform, an innovative all-in-one solution designed to streamline the process of creating tokens and tokenizing RWAs without the need for complex coding. It operates within a burgeoning tokenization industry, projected to grow significantly in the coming years. By leveraging a simple, user-friendly interface, TokenFi opens the door for individuals and businesses alike to participate in the token economy, aiming to make token creation as straightforward as setting up a website.

Within the TokenFi ecosystem, the TOKEN coin serves multiple critical functions that facilitate and enhance user experiences across various aspects of tokenization and asset management. It is employed as the main medium of exchange for accessing TokenFi’s suite of products, including the Token Launcher, QuickLaunch Bot, Launchpad, Generative AI, AI Smart Contract Auditor, Connect, and the RWA Tokenization Module. This wide range of tools covers the entire lifecycle of token creation, from initial design and launch to securing investments and ensuring regulatory compliance.

One of the key features of the TOKEN coin is its integration with the TokenFi Token Launcher, which allows users to create various types of ERC-standard tokens on multiple EVM-compatible blockchains. This feature democratises access to token creation, removing barriers for those without technical expertise. Similarly, the QuickLaunch Bot facilitates token creation via popular social platforms like Telegram and Discord, tapping into a vast user base and fostering broader adoption. Additionally, the TOKEN coin is vital for activities on the TokenFi Launchpad, where users can raise funds in a decentralised manner, and for accessing AI-driven tools that simplify and secure the tokenization process.

The TOKEN coin underpins the TokenFi ecosystem’s incentivization and governance mechanisms. It allows users to participate in the platform’s decision-making processes, contributing to the development and refinement of services. The TokenFi Staking Program and the User Incentives System are designed to reward engagement and platform use, ensuring a vibrant and active community. Through these varied use cases, the TOKEN coin not only powers the TokenFi platform but also plays a pivotal role in advancing the tokenization industry, making it accessible and secure for a global audience.

TokenFi Tokenomics

Token Supply:

Total supply = 10,000,000,000 $TOKEN.

Initial circulating supply = 1,000,000,000 $TOKEN.

Token tax = 0.3%. 80 percent of this goes to the treasury and 20% goes to the Liquidity Pool.

Initial $TOKEN distribution:

54% of the supply is allocated to Floki staking pools – to be earned over four years.

2% allocated to Floki NFT holders and Diamond Hands holders.

10% allocated to the initial liquidity pool on the ETH and BNB chains.

20% allocated to the Floki treasury for development and operations.

2% allocated as team incentives and vested for four years.

5% allocated to the TokenFi User Incentives System to boost TokenFi adoption – to be earned over four years.

7% is allocated to the TokenFi staking program – to be earned over four years.

How to buy TOKEN with crypto

1. Log in to your Bitfinex account or sign up to create one.

2. Go to the Deposit page.

3. In the Cryptocurrencies section, choose the crypto you plan to buy TOKEN with and generate a deposit address on the Exchange wallet.

4. Send the crypto to the generated deposit address.

5. Once the funds arrive in your wallet, you can trade them for TOKEN. Learn how to trade on Bitfinex here.

How to buy TOKEN with fiat

1. Log in to your Bitfinex account or sign up to create one.

2. You need to get full verification to be able to deposit fiat to your Bitfinex account. Learn about different verification levels here.

3. On the Deposit page, under the Bank Wire menu, choose the fiat currency of your deposit. There’s a minimum amount for fiat deposits on Bitfinex; learn more here.

4. Check your Bitfinex registered email for the wire details.

5. Send the funds.

6. Once the funds arrive in your wallet, you can use them to buy TOKEN.

Also, we have Bitfinex on mobile, so you can easily buy TOKEN currency while on-the-go.

[AppStore]  [Google Play]

TOKEN Community Channels

Website | X (Twitter) | Youtube | Github | Instagram | Medium | Facebook

Source link

Related posts

6 Best Meme Coins to Buy Right Now as Meme Season Resurges

4 Mins read
Join Our Telegram channel to stay up to date on breaking news coverage With the increasing Ethereum price, altcoins, including meme coins,…

Courtroom Drama: Binance Executive Collapses During Nigerian Trial Due To Alleged Illness

2 Mins read
In a surprising turn, Tigran Gambaryan, a detained executive from the world’s largest cryptocurrency exchange, Binance, collapsed during a court session at…

FTM's Key Support At Risk As Fantom Launches Sonic Foundation And Wraps $10M Funding

2 Mins read
The Fantom Foundation has recently disclosed its plans to establish the Sonic Foundation and Sonic Labs in preparation for the launch of…



Leave a Reply

Your email address will not be published. Required fields are marked *