🏅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 an algorithm, 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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