⚪FLY INSURANCE FUND (FIF)
FLY INSURANCE FUND
Last updated
FLY INSURANCE FUND
Last updated
FIF is the acronym for the Fly Insurance Fund which is a separate wallet in FLY MAP system. The FIF uses an algorithm that backs the Rebase Rewards and is supported by a portion of the buy and sell trading fees that accrue in the FIF wallet. In simple terms, the staking rewards (rebase rewards) which are distributed every 15 minutes at a rate of 0.02371% are backed by the FIF parameter, thus ensuring a high and stable interest rate to $FLY token holders. 5% of all trading fees are stored in the Fly Insurance Fund which helps sustain and back the staking rewards provided by the positive rebase. FIF Keeps holders safe by: Avoiding flash crash through price stability Achieving long-term sustainability and future growth of the FLY Protocol Greatly reducing downside risk.
