Ignite Finance is the first DeFi 3.0 Finance on Klaytn. The vision of Ignite Finance is to make it easier and more convenient for investors who want to monetize DeFi to provide high and sustainable yield returns. The DeFi scene is changing very rapidly. 

Even after Defi 2.0 (OlympusDAO), FaaS and NaaS called DeFi 3.0 are constantly created. We fully understand the limitations of each token economy, and we want to achieve our vision based on an ‘independent token economy’ that complements the rest.

Ignite Finance plans to realize and expand the core, Buyback-and-burn, through the following five methods:

Unstake: All unstaking are subject to a “fee.” Investors will have two options for this fee. One method requires you to pay a 10% fee to unstake immediately. Ignite Finance uses this 10% fee to burn as well. The other method is free, but there will be a vesting period of 7 days, and payment of additional rewards will stop.

NFT Burn: If you want to recover your initial investment for the Vulcan NFT needed for FaaS, you can recover your initial investment by burning the NFT. A fee will be charged for this recovery returned after burning the NFT. Investors have two options for this fee. One can claim immediately after paying a 10% fee, while the other way is to claim yet wait for the vesting period of 7 days as well as payment of additional rewards stopping. Ignite Finance uses this 10% fee to burn as well.

NFT Mint: All revenue from NFT sales used for FaaS and IaaS will be used for buyback-and-burn.

NTF Marketplace: All NFT transactions on marketplaces operated by Ignite Finance, such as FaaS or IaaS NFTs, are subject to a 3% fee. The entire 3% fee incurred will be used for burning.

Treasury: 20% of the assets accumulated in Ignite Finance’s treasury will be used to directly buyback-and-burn $TINDER.

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Ignite Finance is the first DeFi 3.0 Finance on Klaytn. The vision of Ignite Finance is to make it easier and more convenient for investors who want to monetize DeFi to provide high and sustainable yield returns. The DeFi scene is changing very rapidly.