Overview

JusDeFi is a next-generation yield farming experiment, combining some of the most exciting features from today’s biggest players in decentralized finance with revolutionary new tokenomics of our team’s own design.

Background

AmplyFi was a compelling project: a chimaera of Ampleforth, with its brilliant rebase system, and CORE, with its fee-on-withdrawal and buyback systems, price-pegged to the hugely popular YFI token. The idea was intriguing, the hype was huge, and over 500 people decided to take the leap and invest.

Tokenomics

JusDeFi takes a novel approach to yield farming, and its tokenomics are carefully constructed to add constant and consistent value to holders. Participants are free to stake JDFI tokens directly (or to stake LP for even larger rewards) and our unique fee structure powers the burn and buyback systems which in turn drive price action.

Token Allocation

  • 10,000 tokens will be locked into the initial liquidity pool
  • 10,020 tokens go to the Justice Fund (more on that later!)
  • 2,000 tokens will be allocated to seed the initial rewards pool
  • 1,980 tokens are set aside for the dev fund, which will be used to pay expenses such as marketing, audit, and to help secure future partnerships

Liquidity and Staking

Community-Governed Fees

One of the things that we really liked about the original project was that it combined the concept of rebasing with a fee-on-withdrawal yield farm in such a novel way. However, as we broke down and thought through how this system would work in reality, we found that the original concept had two major flaws:

  • We noticed that only the original developer could set the rebase value, and there were no parameters governing that decision.

Fee Structure

One of the driving principles of value-generation within the JusDeFi ecosystem comes from fees. In short, any time a user unstakes their tokens or collects their yield rewards, a fee is taken. This fee is dynamic, starting at 10% and moving between 0% and 20% each week depending on the desires of the community. Half of each fee is instantly and permanently burned. The other half is sent into the rewards pool for redistribution.

Bidding System

Token Burn & Buyback

The other main source of value-generation comes in the form of frequent and aggressive token burns, which are facilitated by multiple mechanisms within the smart contract. Token burns are a safe and structured way to continually increase the value of the remaining tokens by lowering the overall supply.

  • All ETH collected from the bidding will be used to buy back tokens at market price. These tokens will be burned.
  • As new LP enters the pool, the original liquidity will be proportionally removed and dissolved. The JDFI will be burned and the ETH used to market buy tokens, which will be burned as well.

Victim Compensation

Compensating the victims of the AmplyFi incident was the impetus for this project, and it was crucial to the development team that we find a solution that would be fair and equitable for both original investors as well as the new round of investors that will be participating in our liquidity event.

Liquidity Event

Audit & Smart Contract Release

JusDefi has been professionally audited by Callisto Network. The code was scoured for back doors, redundancies, or security issues of any kind. This audit was completed on November 5th, 2020.

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