.izumi_Finance announces migration to DAO model with veiZi NFTs: Details $IZI
iZUMi Finance, a liquidity management protocol for the Uniswap v3 decentralized crypto exchange, migrates to the next phase of its decentralization.According to the official announcement shared by the team of iZUMi Finance, its hotly anticipated DAO is finally ready to change the game in the"yield faming" segment.
Also, emissions of iZi, a core native utility token of the protocol, will be controlled according to the outcome of veNFT holder voting. To support staking programs, 50% of the platform's revenue will be bought back and distributed between veNFT owners. veiZi governance NFTs can be created by any crypto wallet by locking iZi tokens for a predetermined period of time. As such, veiZi is a unique model of interest-bearing non-fungible tokens.Besides that, veiZi governance NFTs will be available for purchasing on major third-party digital collectibles' marketplaces on Ethereum blockchain.
With iZi tokens locked, iZUMi's farming module profitability can be increased by a factor of 2.5x. Simply put, it is accomplished by periodically reducing the supply of iZi tokens. As covered by U.Today previously, iZUMi Finance secured $2,100,000 in a seed funding round in mid-November 2021.
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