Supply & emission rate

EXC and GRAIL are inflationary tokens, meaning that there is no hard cap on their supply, hence providing essential incentivizations to the liquidity providers, but also introducing the need for supply-controlling mechanisms.

Emission rate

Any emission rate specification is for EXC and GRAIL combined tokens.

Concretely, if the Master contract emission rate is set to 100 tokens / day, and half of the farms are rewarding EXC and the other are rewarding GRAIL tokens, there will be a total of 50 EXC and 50 GRAIL / day.

The initial emission rate will be 1 EXC/s, and will be adjusted at regular intervals to find the best possible balance according to the market situation.

The team will directly handle it until a certain level of stability is reached. Then the decisions will be directly taken through governance.

Distribution

The minted 1 EXC/s will all be distributed to our users as yield farming rewards.

In addition to that, a dynamic amount of EXC is also minted to the dev address at a rate of 9.09%. Those tokens will never be directly sold or be used to pay anyone from the team. The only approved usages will be as follows:

• rewards for marketing events (campaign rewards, airdrops...) or various incentivizations (special pools, dividends...)

• agreements with partners projects

• all of the unused tokens will be burned at regular intervals

Deflationary mechanisms

Several supply control mechanisms have been set in order to compensate the growth of the EXC supply:

• up to 30% burn through GRAIL shares redeeming

• the EXC collected from the swap fees into the FeeManager is automatically burned

• reserve bonds contracts will regularly burn collected EXC

Additional use cases will be added over time to constantly provide further improvements.