FFM Token

What is an FFM token?

Florence Finance Medici (FFM)

The FFM token is the centerpiece of the Florence Finance ecosystem and will be available for users to earn when we initiate our liquidity mining program.

The tokenomics for the FFM token are very simple, we will use a portion of the real-world interest from our loan vaults to buy back and burn FFM from the open market. This means that the more deposits we have on our platform the more FFM that will be burned.

The beauty of this method is that as we offer a very stable yield that is uncorrelated to the health of the broader crypto market the amount of FFM that will be burned will be relatively consistent, resulting in constant buy pressure for the token.

Governance

The Florence Finance Medici (FFM) token is the protocol's native governance and utility token. Ultimately the goal is to entirely decentralize all governance and operations through the Florence Finance Medici (“FFM”) tokens native to the Florence Finance protocol. FFM token holders will approve collateral and lending terms & conditions, following which specific Loan Vaults are created on the platform and funded by those wanting to provide liquidity and funding to such Vaults in return for real-world yields and/or FFM tokens rendered by such lending through the protocol.