About the EEFI Yield Token
What is the EEFI token?
Elastic Finance Token (EEFI), is a ERC20 yield token generated by the elastic vault. (Buy EEFI on Balancer).
EEFI does not have a maximum supply: The number of EEFI in circulation will depend on the following factors:
- How much Ampleforth (AMPL) is staked in the elastic vault: The amount of EEFI minted by the vault and delivered to stakers depends on the amount of AMPL deposited into the vault. The more AMPL is staked, the more EEFI is minted.
- AMPL’s rebase status: Less EEFI is minted by the vault when AMPL Is in negative rebase. More EEFI is minted when AMPL is in neutral rebase.
- The amount of EEFI burned daily: Each day that AMPL is in positive rebase, a percentage of new AMPL supply (generated from AMPL staked) will be used to buy EEFI. The majority of purchased EEFI will be burned, reducing the amount of the token in circulation.
- How long it has been since AMPL reached positive rebase status: The elastic vault is configured to stop minting EEFI if AMPL has not entered positive rebase status for 90 consecutive days.
EEFI had an initial supply of 100,000 tokens. 40% of the initial EEFI supply was airdropped to kMPL holders who staked in the Elastic Vault prior to its launch.
At times, EEFI is a deflationary supply token. When AMPL is in positive rebase, a percentage of new AMPL supply (generated from AMPL deposited into the Elastic Vault) is used to buy and burn EEFI.