Vindax
FBTC is Fire Bitcoin's BEP-20 native Binance Smart Chain Network Token.
FBTC holders can stake FBTCs to help provide a backstop for the protocol. In return, stakers are rewarded with part of the transaction fees plus staking rewards.
Once the ecosystem is matured and there is broader token distribution, Fire Bitcoin will gradually transit to community governance and let the community decide the future development of the protocol.
Fire Bitcoin is composed of two parts: PancakeSwap-inspired Virtual AMMs backed by fully collateralized vaults and a built-in Staking Pool that provide a backstop for each virtual market.
Similar to trading on PancakeSwap, traders can trade with Virtual AMMs directly without counter-parties. Virtual AMMs provide guaranteed on-chain liquidity with predictable pricing set by constant product formula.
FBTC holders can stake FBTCs to Staking Pool and Fire Bitcoin’s Insurance Fund is guaranteed by FBTC stakers. FBTC stakers collect transaction fees, and in exchange for that must backstop for the system.
