The HONEY token is the lifeblood of the Honey Finance protocol. It is used to incentivise lending, borrowing, liquidity provision, and contributions to the DAO.
The HONEY token had a fair launch on March 31st 2022 with no presale or allocation to early investors. The fair launch raised 755k and sold 85 million tokens.
77.5% of the total supply is allocated to the community.
54% goes to the DAO’s treasury to be split between the insurance fund, the Honey Foundation, grants, and more.
15% goes to liquidity incentives either through liquidity mining, bond purchases, or NFT staking.
Half of all liquidity mining incentives are allocated to Honey Genesis NFTs
8.5% is allocated to the IDO
22.5% is allocated to Honey Labs.
22.5% is allocated to Honey Labs SAS based on a 2 year vesting schedule, following the same schedule as Rari Capital
How to obtain HONEY
Honey can be earned by participating in liquidity mining. Half of all $HONEY liquidity mining goes to Honey Genesis NFT holders.
The remaining half of liquidity mining tokens are used to incentivise (through rewards) lending, borrowing, and liquidity providing.
How to hold HONEY
Simply holding HONEY tokens in a wallet comes with high opportunity cost relative to veHONEY rewards. Longer term HONEY holders should vest tokens to veHONEY in order to participate in the DAO. The minimum vesting period is 1 week and the maximum is 4 years.
Short term holders and speculators can provide liquidity to HONEY/USDC on Aldrin