FLP Token

The FLP Jetton token represents the underlying assets in the Fenix Liquidity Pool. It is a liquid token with a value of USD and be used as collateral or for farming strategies through various vaults. The price of FLP appreciates over time as players lose tokens, and these assets are added to the index composition.

Providing liquidity to the Fenix Liquidity Pool mints the address proportional FLP tokens to the liquidity provided. FLP tokens could be bought or sold at any time by directly interacting with the Fenix Protocol smart contracts or through the interface provided by the platforms built on top of the Fenix Protocol.

There is a minimum of 0.15% and a maximum of 0.75% fee while purchasing or selling FLP. The fee range is decided by the targeted weights of the tokens the transaction is being made with.

Below is the formula that determines the price of FLP.

All rewards are paid in FLP after the rewards have been converted into FLP.

Risks Involved

• The FLP token is the counterparty to all the player transactions. When players constantly win, the composition may temporarily lose part of its assets. This will decrease the price of FLP until the losses of the players sum up and restore the lost assets.

• The assets in the liquidity pool have volatile USD values. This may affect the price of FLP in short periods.

• There is a smart contract risk. Please refer to the Audit section.