🏅Tokens
Crocodile Finance Tokens
Tokens Overview
Crocodile Finance utilizes a multi-token system designed to maintain the $CROC peg to $AVAX and provide governance and stability mechanisms within the ecosystem. The primary tokens in our protocol are $CROC & $gCROC
$CROC Token
$CROC is the primary token of the Crocodile Finance protocol, designed to act as a medium of exchange. Its built-in stability mechanism aims to maintain a peg of 1 $AVAX in the long run.
Key Details:
Initial Mint: 50 $CROC were minted upon contract creation for initial liquidity, and 50,000 $CROC were allocated for genesis rewards.
Peg Mechanism: $CROC pegs to $AVAX through the revenue the protocol receives, not collateralization.
Tokenomics: Supply of $CROC is increased when above peg, and maintained when below peg. The supply is, in theory, unlimited, but supply expansion rates are dependent on the revenue generated by the Crocodile Treasury. This way, all newly minted $CROC is always 100% backed by $AVAX in the Crocodile Treasury.
Volatility: It may not always be valued at exactly 1 $AVAX. $CROC is not a crypto or fiat-backed stablecoin and should not be treated as one.
$gCROC Token
$gCROC represents governance and protocol ownership. It also acts as a share token that reflects confidence in the protocol’s ability to maintain $CROC near its peg.
Key Details:
Initial Mint: 300 $gCROC were minted upon contract creation for initial liquidity w/ 1,000 $AVAX, and 60,000 $gCROC allocated towards liquidity rewards.
Tokenomics: 60,000 $gCROC for liquidity rewards over 2 years linearly; 10,000 $gCROC to the Team also linearly over 2 years.
Epoch Expansions: During expansion epochs, $CROC is minted based on generated revenue and distributed to $gCROC holders who have staked in The Nest.
Governance: Holders of $gCROC have voting rights and can participate in protocol governance, shaping its future development.
Bootstrapping Epoch: The initial Nest prints are guaranteed during the first 30 days (120 epochs).
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