TokenFi Developers Propose New Program to Boost Benefits for TOKEN Holders
The proposed move would allow eligible users to acquire up to four times more tokens than the standard quota per wallet, among other benefits.
Apr 8, 2024 at 11:00 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/JG6XLUKEZBCOBMYHTXV4TOHR5A.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
- The “TOKEN Supercharge Program” aims to offer early access to TokenFi platform issuances for TOKEN holders and stakers, potentially allowing them to acquire up to four times more tokens than the standard quota per wallet.
- A minimum holding or staking of $1,000 worth of TOKEN is required for priority access, with additional benefits for higher holdings.
- Developers say the move could address potential issues of token sale events being sold out quickly to the general public, where TOKEN holders should instead benefit.
The developers behind the TokenFi launchpad are presenting a proposal to boost the benefits for TOKEN users by allowing holders to gain early access to platform issuances.
The “TOKEN Supercharge Program” will provide preferential treatment for TOKEN holders and stakers, allowing them to secure tokens ahead of the broader public if the proposal passes.
The proposed move would further allow eligible users to acquire up to four times more tokens than the standard quota per wallet. Users who do not stake or hold TOKEN may face limited access to token sale events.
Users must stake or hold a minimum of $1,000 worth of $TOKEN for the proposed priority access, with higher holdings offering additional advantages.
“We have close to a dozen of these token launches already planned and due to be announced in the coming days and weeks,” TokenFi developer B told CoinDesk in a release. “However, we envision a scenario in which some of these token sale events could be sold out in minutes, especially if open to the general public.”
This could result in the majority of $TOKEN stakers and holders being unable to participate in these events when they should be the main beneficiaries,” he added.
TokenFi, which uses token (TOKEN) as its native digital asset, lets users launch any cryptocurrency without writing code. It was started in 2023 as a sister project to Floki, a former dog-themed meme coin that has since pivoted into a metaverse and decentralized finance platform.
At the time of writing, TOKEN prices were little changed, trading at 16 cents, data shows.
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/6c6bb5af-692c-4fcf-9f8b-a75d0549effd.png)
Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.