THUGS.Fi platform, built on the Binance Smart Chain (BSC), deals with gaming and non-fungible tokens (NFTs) that benefit its users. According to the developers, this ecosystem should be engaging, fun, and create value for users, including artists, developers, and promoters.
THUGS.Fi has a non-deflationary token called $THUGS, which powers the ecosystem. This token maintains a stable value because its circulating supply keeps decreasing because of the built-in burning mechanism.
The $THUGS token is at the center of the ecosystem since it allows users to participate in various platforms such as GUNS, SHOES, and DRUGS. By using $THUGS and other tokens such as $GUNS, $SHOES, $DRUGS, and $CRED, the protocol can create various NFTs, which function both as digital and usable in-game assets.
In principle and reality, the THUGS platform launched the THUGS token on the Binance Smart Chain on October 1st, 2020. This token has a few outstanding attributes. One such attribute is its ability to burn other tokens sold on the platform. Burning takes place when users send, sell, add, or remove liquidity.
It is important to note that there is no flat burnt rate. The burnt rate self-adjusts depending on the price of the $THUGS token. Accordingly, when the $THUG token price is low, the burnt rate is higher than if the price is high.
41% of the burnt $THUGS goes to the Fi.Vault or the protection fund. The THUGS platform channels the capital raised in this way towards future development, airdrops, marketing, community engagement, business relations, and other expenses.
The distribution of the $THUGS tokens stands as:
- Presale: 417 500
- Locked Liquidity: 167 000
- Development: 100 000
- DAP development: 100 000
- Marketing: 100 000
- Community: 75 000
- Airdrop: 68 920
However, THUGS.Fi has other tokens, which include $CRED, $GUNS, and $HOES.
DRUG Tokens: Users earn DRUG tokens when they stake LP tokens. They also earn them when they convert them to $HOES in a ratio of 1.1.
HOES Token: As stated above, users can convert $DRUGS into $HOES. And that is the major way to get $HOES. The other option is to buy $HOES on the market. The good news is that people can also convert $HOES back into $DRUGS.
CRED TOKEN: This is the token that people earn when they stake their $THUGS. Fortunately, users can convert $CRED into $THUGS as well. One interesting thing is that the $CRED tokens are tradable on the AMM. Users can also transfer them to other people.
GUNS token: $GUNS token power the GANGWAR game. Users buy $GUNS on the ThugSwap market. Like $THUGS tokens, $GUNS are deflationary as users can burn them to earn some NFTs. When individuals stake GUNS into Gang-East and Gang-West, they receive NFTs as rewards.
Traphouse: Traphouse, a Binance Smart Chain (BSC) contract called Original Gangster, is the platform for staking and yield farming. It can handle different tokens that the THUGS. Fi protocol considers suitable for its mission. By staking LP tokens at traphouse.vip, an individual earns $DRUGS.
When someone stakes $THUGS, he/she earns $DRUGS, $HOES, $GUNS, among other various tokens. However, for the individual to farm, he/she should use a wallet that supports the BSC network, such as Metamask.
Provision of liquidity
Any user can provide liquidity on StreetSwap by pooling two tokens with the same dollar value. Therefore, the quantity of each token depends on its current price. As a liquidity provider, one gets LP tokens, which he/she can stake at Traphouse. Currently, stakers share 17% of the platform fees.
THUGS.Fi has a large community of artists, promoters, and followers. Through its social media platforms, it updates its members on the latest developments. Anyone can join these platforms: