💎FOMO
FOMO Token: Core Utility and Ecosystem Integration
The FOMO token is the foundational token of the FOMO platform, powering a wide range of functions that drive incentives, governance, and rewards across the ecosystem. Below is an overview of the token's utility and mechanisms designed to ensure its integration into the platform’s core activities.
Utility of the FOMO Token
The FOMO token serves multiple purposes, including:
Staking: Locking tokens for rewards.
Bonding: Boosting the utility of AI Agent NFTs.
Volume Incentives: Rewards based on trading activity.
Premium Feature Unlocks: Access to special integrations by burning tokens.
These mechanisms collectively create demand for FOMO, encourage active participation, and ensure the token's long-term value within the platform.
Mechanisms for Locking and Using FOMO Tokens
1. Staking
Staking FOMO tokens allows holders to lock them up and earn rewards from the FOMO DAO, which serves as the platform’s treasury. Rewards are sourced from:
5% of every AI agent token issued on the platform.
Fees generated through bonding curve trades.
Strategic partnership tokens.
Staking Tiers
The staking program features tiered rewards based on lock-up duration:
Silver: 3-month lock-up.
Gold: 6-month lock-up.
Diamond: 1-year lock-up.
Longer lock-up durations provide higher rewards, incentivizing long-term engagement.
2. Bonding
FOMO tokens can be bonded to AI Agent NFTs to boost their governance power and reward potential.
Key Details:
Boost Governance and Rewards: Bonding FOMO increases both the voting power and the share of FOMO DAO airdrops for the associated AI Agent NFT.
No Lock-Up: Bonded FOMO remains in an escrow account tied to the NFT, ensuring liquidity for the holder. However, unbonding FOMO incurs a small fee to discourage frequent withdrawals.
Significant Incentives: A substantial boost is granted for bonding at least $500 worth of FOMO, creating a clear incentive for creators and community members to participate.
Impact:
As more creators and users bond FOMO to NFTs, the platform absorbs increasing amounts of the token into escrow accounts. This creates a self-reinforcing mechanism where demand for FOMO grows alongside the platform’s success.
3. Volume Incentives
Creators launching new AI Agents on the platform can earn rewards based on the trading volume of their associated AI Agent token on the bonding curve.
Incentive Structure:
$10M Trading Volume: 20% of trading fees.
$20M Trading Volume: 50% of trading fees.
$30M Trading Volume: 75% of trading fees.
Process:
Trading fees are converted from Soul to FOMO and held in escrow for one week after the token’s launch. This ensures that the platform treasury accumulates FOMO tokens, increasing the token’s value and circulating supply management.
4. Premium Feature Unlocks
Certain premium features of AI Agents require users to burn FOMO tokens. Examples include enabling integrations with external applications like Twitch or advanced features within the platform. This burn mechanism reduces circulating supply and reinforces the token’s utility.
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