Overview of the Rabbit Finance project
What is Rabbit Finance?
Rabbit Finance is a leveraged yield farming protocol based Binance Smart Chain (BSC) released by Rabbit Finance Lab. It supports users participating in liquidity farming through over-lending plus leverage to get more revenue.
When the user has insufficient funds but wants to participate in DeFi liquidity farming, Rabbit Finance can provide up to 10X the leverage to help users obtain the maximum revenue per unit time, and at the same time provide a borrowing pool for users who prefer stable returns to earn profits.
How to Participate?
As a user, you can participate in Rabbit Finance in four different ways:
- Lender: Rabbit Finance allows you to earn income on your base assets by depositing them into our vaults. These assets will then be offered to yield farmers for leveraging up their positions.
- Farmer: As a farmer, you can earn a higher yield by opening a leveraged position on Rabbit Finance. Of course, this comes with bigger risks: liquidation, impermanent loss, etc.
- Liquidator: Monitoring the pool for underwater positions and liquidating.
In this example below, we show how each participant works together in our ecosystem:
- Cora, the lender deposits his BNB into our deposit vault; his asset becomes available for a yield farmer to borrow; he earns interest for providing this liquidity.
- Dunn, the yield farmer wants to open a leveraged yield farming position on the BTC/BNB pair; he borrows BNB from the vault and enjoys higher yield farming rewards.
- Rabbit Finance's smart contract takes care of all the mechanics behind the scenes optimally switching assets to the right ratio, providing liquidity to the pool, and staking LP for Pancake Rewards.
Token
RABBIT token is a governance token of the Rabbit Finance. It will also capture the economic benefits of the protocol. There will be a maximum of 200 million R tokens.
What is the RABBIT token used for?
- Protocol Governance: We will soon launch a governance vault that will allow community members to stake their RABBIT tokens. The RABBIT staker will receive xRABBIT where 1 xRABBIT = 1 vote, allowing them to decide on key governance decisionsIn the initial phase, governance decisions will be made on Snapshot.
- Capture Economic Benefits of the Platform: Users of Rabbit Finance Protocol (depositors and borrowers, i.e. lenders and farmers) will be rewarded with RABBIT token for their deposit and borrow behaviors. Rabbit Finance platform will set up a buyback fund with its income, which will be used for deflation and appreciation of RABBIT token. When earnings is reinvested, 30% of that is used to RABBIT repurchase fund. The 20% of the depositor’s interest income is used as market development fund. All of these will contribute to RABBIT's demand increase and value growth.
- Capture Economic Benefits of the RUSD, RBTC, RBNB etc.: RABBIT token is the shareholders' rights token of algorithm stable coin of RUSD, RBTC, RBNB etc. Whenever RUSD etc. is inflationary, the members who pledge RABBIT token to the boardroom will share the additional RUSD as dividends to share the benefits of ecological growth. For more details, please pay attention to our follow-up announcement.
Distribution
Community Pool
79.75% of total supply，about 159,500,000 RABBIT.
RABBIT will be released over two years with a decaying emissions schedule, and will be evenly distributed to the entire ecosystem as a community reward.
Institutional Pool
5.25% of total supply，10,500,000 RABBIT
Provide 5.25% investment quota for well-known institutions and investors. After the completion of the investment, 245,000 RABBIT will be released every 7 days, and 10,500,000 RABBIT will be released within 300 days (about 10 months). Specific time to be determined, please pay attention to the follow-up announcement.
- Hard cap: 10,500,000 RABBIT = 525,000 USDT
- Exchange ratio: 1 RABBIT= 0.05 USDT
Warchest Fund
5% of total supply，about 10,000,000 RABBIT.
5% of the distributed tokens is reserved for future strategic expenses. In the first month, 250,000 tokens were released for listing fees, auditing, third-party services, and liquidity of partners.
Development Fund
- 10% of total supply，about 20,000,000 RABBIT
10% of the distributed tokens will go towards funding development and expanding the team, and will be subject to the same two-year vesting as the tokens from the Fair Launch Distribution.
Community pool release program
RABBIT token will be released over two years with a decaying emissions schedule, and will be evenly distributed to the entire ecosystem as a community reward.
In total, there will be 159,500,000 RABBIT. To incentivize early adopters, there will be a bonus period for the first weeks. Below is our planned block reward schedule. Based on it, the circulating supply profile of RABBIT can be plotted.
Officially Launched
Levered yield farming launched, farmers can open leveraged yield-farming positions and get RABBIT reward.
When we complete our smart contracts audits, we will open the leverage yield farming function, thus completing our service loop. Our current estimate for this is at the end of the April, 2021
We will make a separate announcement in advance to the community before launching Phase 2
The bonus period lasts about one week, after which the project officially starts, Rabbit's allocation plan will be updated as follows:
- 40% distributed to liquidity providers for the RABBIT- pool on PancakeSwap
- 25% distributed to lenders who deposit BNB or BUSD and other token into our vaults — rewards will be divided equally between the pools
- 35% distributed to users who have leveraged yield-farming positions opened — rewards will be calculated based on the loan amount; only leverage positions ( > 1x) will receive rewards.
For More Information:
Rabbit Finance website: http://rabbitfinance.io/
Github: https://github.com/RabbitFinanceProtocol
Twitter: https://twitter.com/FinanceRabbit
Telegram: https://t.me/RabbitFinanceEN
Discord: https://discord.gg/tWdtmzXS
Contracts info: https://app.gitbook.com/@rabbitfinance/s/homepage/resources/contract-information
Audit report: https://app.gitbook.com/@rabbitfinance/s/homepage/resources/audit-report
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BEP-20 Address: 0x42bf3b13486f392c24ce814c5B5b131d7247a6ec
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