Bug Finance
  • 🪲Introduction
    • Welcome To Bug Finance
    • Introduction from the Team
    • Our Mission
    • Why Polygon?
  • 🐛Get started
    • Wallet Setup
    • Bridging to Polygon
  • 🕸️Protocol
    • Bug Finance's Reimagined ve(3,3)
    • BUG Liquidity Pools
    • Liquidity Provisioning
    • Staking & Exit Mechanism
    • Fee Structure
    • Whitelisting
    • Gauge Voting & Bribing
    • Efficient & Beneficial Bribing
  • 🦋Tokenomics
    • Tokens
    • Initial Supply & Emission Schedule
    • veBUG
  • 🐝The Swarm - BUG NFTs
    • The Swarm - Introduction
    • The Art
    • Utility
    • Mint details
  • ℹ️Additional Info
    • Brand assets
    • Security
  • 🐦Bug Twitter
  • 🕸️Bug Website
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  1. Tokenomics

Tokens

PreviousEfficient & Beneficial BribingNextInitial Supply & Emission Schedule

Last updated 1 year ago

There are 3 ‘’Tokens’’ in the Bug Finance ecosystem. $BUG, veBUG, and ‘’The Swarm’’ Bug NFTs:

$BUG - Utility token of Bug Finance

$BUG will be emitted to LP providers and governed by veBUG holders. There are 3 objectives of $BUG:

  1. Reach and maintain adequate liquidity to facilitate optimal trading conditions. $BUG is emitted as farming rewards to incentivize deep liquidity.

  2. $BUG needs to be used to acquire veBUG by staking $BUG in partner LP pairs, such as BUG/MATIC, BUG/USDT, and BUG/fBOMB. This will create deep-locked liquidity for $BUG and partner pools. You also have the option to acquire veBUG by single-sided staking $BUG. This however will give you less voting power.

  3. The goal is to become truly decentralized. $BUG will be used to take part in the governance for the continued development of the platform.

veBUG - ERC-721 Governance token in the form of an NFT

veBUG is the vote-escrowed version of $BUG. Users can stake any whitelisted LP paired with $BUG or stake $BUG alone to receive 30% of the voting power BUG LP receives. The voting power will be determined based on the amount of $BUG token in your LP at the time of voting. It's possible to exit any veBUG position via the exit mechanism. More about can be found in the veBUG section.

Unlike other ve(3,3) implementations, all veBUG has the same voting power and doesn't decrease over time. In our system, your voting power is dynamic and gets calculated every time you vote. How it works is that your voting power is based on the amount of $BUG in your LP, it is then multiplied by 2 since BUG only represents 50% of the LP. veBUG positions can be increased, split up, and resold on a secondary market besides being exitable via the exit mechanism.

“The Swarm’’ Bug NFT - ERC-721 founders NFT

Bug NFTs can be staked to receive a percentage of the weekly trading fees, starting at 20% and slowly decreasing to 15% after 4 months. Bug NFTs will also receive a lot of other utilities which can be found in the next section.

Contract Addresses

Token
Contract Address

$BUG

veBUG

''The Swarm'' Bug NFTs

The Swarm - Introduction
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