As Haze Finance team prides itself for listening to the communities’ feedbacks, this time we have made a huge change on our tokenomics as we were given great suggestions from our community members.
The current Haze Finance Frequency Mining reward system has a preset standard of reward, for every 1K deposit, users get 1.5 HAZE; 10K for 6.75 HAZE and 100K for 60 HAZE. Well…this will change soon! We would like to decrease the token reward emission rate for Frequency Mining in order to give early users incentives/advantages to be in Frequency Mining as more community members discover our project.This change should also make a positive impact on the HAZE tokens price.
Here are the details about the tokenomics and Frequency Mining reward emission rate change:
- Starting from March 15th (Monday) 7pm EST, Haze Finance will reduce its Frequency Mining reward emission rate.
- We are currently at around 190 million for total volume.
- The team has decided to reduce 0.2% of the reward for every 1 million total volume. This will be applied to the remaining 800 million volumes (volume counts start from March 15th 7pm EST).
- During this period, a total of 240K HAZE tokens will be released as rewards for 800 million total volume.
- When all 800 million total volumes are reached, we will let the governance decide whether to continue the emission for the remaining 220K HAZE tokens, and if so at what rate. The governance can decide to not emit the remaining 220K HAZE tokens and reduce the total HAZE token supply (if so the new HAZE tokens total supply will be 1 million- 220K= 780K)
- In order to accommodate to this change, on March 15th at 7pm EST, we will reduce the Frequency Mining reward to 1k for 0.6 HAZE, 10k to for 6 HAZE an 100k for 60 HAZE and start from there.
- We will also adjust the protocol fees for withdrawing for 100K and 1K deposits. For 100K deposit, the protocol fees will change from 0.5% to 0.55% per withdrawal; and for 1K deposit, the protocol fees will reduce from 0.5% to 0.1% per withdrawal. This change in protocol fees will make the cost/reward ratio equal for all three anonymity sets.
That’s it for today’s announcement, I know it is quite a big change and a lot to process, but in short, just remember that — > the earlier you participate in Frequency Mining, the more advantages you have, whether it is in terms of rewards amount or HAZE tokens price.
Thank you guys for reading! Please reach out to us if you have any questions!