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The official FuruCombo token, COMBO, is here

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In a recent article published on DeFi.cx, we talked about 15 DeFi projects that are already up and running but do not have their own tokens. Among them there was also FuruCombo, a DeFi App reviewed a few months ago about which you can learn more by reading this article. Well, following our article, FuruCombo has announced its own token: COMBO.

It is the first of the 15 projects mentioned to launch a token and it did it in style, carrying out an Initial DEX Offering on Balancer, using a special pool that limits or reduces the price over time if there are no new purchases. Let’s get a better understanding of what the Combo token is for, what its token economy is, supply and distribution.

$COMBO – Supply and Distribution

The total and maximum supply of COMBO tokens is 100,000,000 units. These tokens have been distributed as follows:

  • 52,000,000 for community growth
  • 26,000,000 for current team and future collaborators (vested)
  • 2,500,000 for Advisors (vested)
  • 19,500,000 for Initial Investors and Shareholders (vested)

The lowest price to date is from the first private pre-sale where 1 million (unlocked) tokens were sold at just 0.10 cents per token. Subsequently, 4 million tokens were sold on Balancer via a Liquidity Bootstrapping Pool (LBP), whereby the price was expected to drop dramatically if there were not many high priced purchases, but this did not happen (given the high interest in this new DeFi token). Because of this, the average price of each COMBO sold on Balancer was between $1 and $3, with an average of $2 per token. A fairly high price given the huge supply.

So to recap, the circulating supply at the beginning is 5 million tokens (4 on Balancer and 1 during the seed). This supply will grow by 187,500 tokens per week, starting today, January 15th, 2021. These tokens are intended for FuruCombo users, as they will be given away to those who use the service over the next two months. Advisor, investor and shareholder tokens will start unlocking in 3 months and team tokens in 10 months. Unlocking will be linear, so there will be no large increase in the number of tokens in circulation in the first few months. 

$COMBO is already available on Uniswap

At the end of the pre-sale on Balancer, the team decided to use a large part of the funds raised to create a pool on Uniswap, providing a large amount of liquidity, i.e. around $3.5 million. Thanks to this liquidity, volumes on Uniswap exceeded $6 million, allowing the token to also be a trending token on DexTools for several hours. Even at this time, COMBO is stable in second place on DexTools, perhaps showing interest in the DeFi community.

The current market cap, taking into account all tokens in circulation is about $10 million, with a price just over $2. The Fully Diluted Market Cap, on the other hand, is quite high at $200m. But since DeFi’s products are growing fast, these numbers could be considered low market cap in the coming years!

To understand why the Combo token will be successful, visit the official FuruCombo.App website and try to create some DeFi Combo. You’ll definitely love it!

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