Bribes

The dual token model of the Fenix Protocol incentive structure is designed to drive volume routed through the FLP, thus ensuring the FLP has steady revenue thanks to its mathematical edge. Players are incentivized to play through the games connected to the FLP as they are rewarded vFNX on each transaction.

To ensure FNX/vFNX has steady income and value, the FLP pays a portion of each input currency amount as bribes to the protocol on each transaction that starts a game, regardless of the outcome. This mechanism is called Bribes.

The bribes mechanism has a multiplier that changes in each epoch and ranges between 0.0075x (0.75%) of the input currency amount to 0.0125x (1.25%) of the input currency amount. The multiplier in each epoch depends on the revenue of the WLP to ensure it stays healthy.

For example, let's assume the bribe of the current epoch is 0.003x. A player performs a transaction with a value of 0.1 wETH. The FLP contract will be called to pay 0.0003 TON as a bribe in the same transaction.

The bribes mechanism can only be called through the transactions initiated by the game contracts.

Bribes Formula

If the FLP lost assets in the previous epoch.

If the FLP earned assets in the previous epoch.

The Fenix Club governs the ranges of the bribes mechanism and cannot be increased to more than 0.01x, half of the median edge of the game contracts connected to the FLP.

Bribes Distribution

• 60% of the bribes collected are distributed to the vFNX staking/vesting pool

• 20% of the bribes collected are distributed to the buyback or burn address

• 20% of the bribes collected are distributed to the core developers

Staking

Bribes are routed to the Rewards contract in each transaction. The Rewards contract has a function that purchases FLP with the tokens accumulated in it and distributes it to the vFNX staking/vesting pool. Token holders with a staked position in this pool can claim their FLP tokens anytime. The FLP price continues accumulating as the tokens are now a part of the liquidity pool.

5% of the FNX supply is allocated as vFNX to reward the early staking program. The rewards contract mints vFNX to the staking pool proportionally to the annual percentage rate FLP generates to the staked FNX/vFNX principal.

There is a burning fee of 0.5% for unstaking vFNX/FNX.