The $FINE Token — Refinable’s Utility & Governance Token
In order to properly align the incentives of our users, stakeholders, and network participants, the Refinable platform will utilize a native utility and governance token, FINE, as its base economic asset.
As a FINE token holder, you gain unprecedented access to our platform as well as the plethora of other benefits that are exclusive to FINE holders. Below we will cover some of the most pertinent information relating to FINE, demonstrating how it was created with our community’s best interest in mind.
Some Very FINE Benefits
With the goal of creating as many value-adding qualities as possible, we have developed FINE to serve as the backbone of the Refinable ecosystem. As a decentralized and distributed platform, FINE will act as a governance token, granting its owners’ voting rights to proposals and a fair say on the network’s future direction. This guarantees that Refinable will develop towards the direction that our community dictates.
Additionally, FINE will also be used as a general utility token for settling and funding transactions, or spent for priority exposure on the platform!
Users who hold and stake their FINE tokens will also benefit from major discounts on platform fees of up to 60%. Regular buyers and sellers have to pay 2.5% in the service fee, while secondary platform sellers have to pay 2.5% plus a percentage of royalties. For FINE holders, these commissions are slashed to 1.5% for buyers, 2% for primary sellers, and 1.5% plus royalties for secondary sellers!
But wait, there’s more! With FINE, token holders will gain access to exclusive events such as special item auctions, exclusive drops, and unique listings from the Refinable team and community. Token holders will all get to participate in platform moderation, with power democratically determined based on the underlying amount of FINE tokens each participant owns.
We have consulted with some of the top experts in the industry to determine the proper tokenomics for FINE and have created a financially and economically sound cryptocurrency with our users best interests in mind.
The supply of FINE tokens is capped at 500 million, with 20% of tokens going towards our token sale, 20% allocated to community mining, 5% to a Refinable liquidity fund, 10% to Refinable’s team (which does not unlock until one year after the token generation event), 35% to the treasury fund and 9.5% for reserve proposals.
FINE’s total public and private sales will raise approximately US$3M, with an initial purchasing price of US$0.03/FINE for private sales and only a slight increase to US$0.033/FINE for public sale. Public sale users will gain immediate access to their tokens, while private sale participants will receive their total token allocation on a quarterly basis over the course of one year.
We are so excited to launch Refinable to the world and usher in the ultimate user-focused, all-encompassing NFT platform. Make sure to stay tuned for the latest up-to-date token sale information!