Timelock, no mint function, burning, and locking of Liquidity Provisions (LP) is one of many means of securing investors’ assets and confidence. Friction Finance, a Binance Smart Chain (BSC) native project, has all of this in place.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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What is Friction Finance?
Friction Finance is a decentralized Automated Market Maker (AMM) protocol with Yield farming incentives and a unique token distribution design. The protocol is powered by a TAO token which adds a governance layer and enables the pools and farms to be self-sustaining without ever minting any new TAO token.
The project also features an NFT marketplace, lottery system, and custom chart analytics as part of its features. The team is setting out to enhance security as the project has completed an audit from Solidity.finance, an ongoing audit with Certik, and a 24hr timelock.
Decentralized Automated Market Maker (AMM)
Deflationary and RFI mechanics
NFT Market place and Lottery
Automated Market Maker (AMM): Users can immediately carry out trades in a permissionless and decentralized manner right on the protocol.
Swap between tokens in a decentralized protocol
Add/remove liquidity and earn LP tokens
Use the integrated Binance Bridge to cross-assets to the Binance protocol.
Yield Farming: TAO token LP holders can now farm on the platform with a pretty high APR of up to 1700%.
The Yield protocol features top pairs such as BUSD, ETH, and ALPACA.
Get access to single-sided farms which currently have a LIFE pool and are open to project who want to create their pool.
Custom Analytics: Chart your favorite tokens and gain real-time trading history and analysis using the custom analytics tool. Currently, there are only four tokens feature in the custom tool; TAO, CAKE, GOOSE, and ALPACA.
More coins will be added in the future; users can keep their eyes on the tool and better analyze their tokens.
And also, take part in the lottery system with TAO tokens called the loot box. All of the listed NFTs in the platform are limited editions and have a value increase potential.
Deflationary and RFI mechanics: Embedded in the token structure is the burn mechanism and RFI mechanics, which automatically burns and distributes 1% of every transaction to all holders proportionally. This mechanism has a compound effect wherein the compound automatically happens after every transaction. Users can find more details of these functions HERE.
Governance: The project aims to become a Decentralized Automated Organization (DAO) in the future after the full implementation of the token Governance. The TAO token adds a Governance layer, enabling the pools and farms to stay self-sustaining without ever minting any new TAO tokens.
The project recently entered a strategic partnership with ALPACA Finance, a leverage Yield farming on the BSC network. The partnership will benefit both parties in Analytics, LP farms, Marketing, much more integration, and farm pools in the future.
Source : bsc.news
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