Emblem Vaults rely on FUEL as it's fee token. $COVAL is used when purchasing FUEL to provide a discount.
Applications accepting $COVAL as payment will reward a portion back to liquidity providers.
When FUEL is purchased using ETH on UniSwap it will go through the $COVAL pool.
ETH earnings will market buy $COVAL. Half of $COVAL purchased will be burnt, half will be distributed as rewards.
$FUEL liquidity will be provided by anyone wishing to sell fuel. Liquidity providers will earn ETH and $COVAL with every sale of Fuel.
Vaults can be purchased with $COVAL, ETH or $FUEL. ETH used to purchase vaults will be routed through Uniswap to market buy Coval. $COVAL used to purchase vaults will be burnt or used as rewards. $FUEL is the discounted way to purchase vaults.
$FUEL and $COVAL have a close relationship. Discounting vault purchases encourages the use of $FUEL Every $FUEL purchase will burn and distribute $COVAL (raising it’s value)
When $FUEL is purchased using ETH on UniSwap it will go through the $COVAL pool.
