SCV.finance
English
Search…
⌃K

# SCV Token

SCV.finance is the second cryptocurrency project by CoinView team, with no pre-sale, no pre-mine, though we do have early investors. Like many other projects, we reward various participants that help bootstrap our ecosystem. This will be the only way to earn SCV tokens.

## SCV Info

• Ticker: \$SCV
• Blockchains: Ethereum & BSC
• Token Cap: 10,000,000,000
• Team: 40%
• Community: 13.7%
• Rest: Traded since 2017 on Ethereum
Update: To maximize the SCV token's utility and push the growth of community ecosystem to the next level, the team has decided to give 50% of its token to the community for reward, and 25% for the providing liquidity on PancakeSwap and marketing (and other DEXs in the future), and the rest 25% will be locked in the SCV staking pool.
With the SCV's migration to BSC, the new figures and contracts are:
• Team: 10%
• Liquidity + Marketing: 10%
• Community: 33.7% (13.7% + 20%)
• Rest: Transferring from ETH to BSC (with 25,000,000/day limit)
The locked amount of SCV (ERC20) in the bridge will always equal the overall minted amount of SCV (BEP20) on BSC. The overall cap:
$SCV_{ERC20} + SCV_{BEP20} - SCV_{locked} = 10e9$
And if in the future, when we expand our services to other chains, this formula will still apply.

## SCV Bridged to BSC

The ETH2BSC Bridge is an official facility for transferring SCV from Ethereum to Binance Smart Chain.
The ERC20 SCVs send to the bridge will be locked inside the bridge's smart contract. And at the same time, the same amount of BSC-Peg SCV (BEP20) will be minted and sent to the user.
The locked amount of SCV (ERC20) in the bridge will always equal to the overall minted amount of SCV (BEP20) on BSC.
The bridge has a daily limit of 25,000,000 SCV.

## Reward Distribution

50% of team and 100% of community SCV, sums up to 3,370,000,000, is distrbuted as mining reward.
 Distributed to Reward/block(% of emission) SCV Staking 100% (reduce to 20% since June 23rd, 2021) SCV-WBNB CAKE-LP Staking 80% since June 23rd, 2021 NFT Ecosystem Up coming
• Rewards are calculated as: (Emissions x Price x Reward weight of the pool) / Total Value Locked.
• SCV rewards are distributed every block (3 seconds). The emissions is 600 tokens minted per block, which is 17,280,000 SCV per day. To provide long-term incentives, the number will be adjustable by community governance.
• The distribution is expected to last for total 195 days (mining reward / SCV per day) before depletion, which would be around Dec 16th, 2021. After that, all mining farms will no longer receive new distribution.

## Deflation

Platform profit will be used to buyback and burn SCV once per month, as we don't want to disturb the market too frequently. The profit including:
• Farm withdraw fee
• SCV-Bot NFT gatcha payment
• NFT marketplace trading fee (applies to SCV Bot NFT trades only)

## What is the SCV token used for?

### Governance

We will soon launch a governance vault that will allow community members to stake their governance tokens; stakers will receive governance token where 1 governance token = 1 vote, allowing them to decide on key governance decisions.

### Capture Economic Benefits of the Platform

We will let the community decide how they want the economic incentives to be captured by the SCV token ; For example, it could be similar to Sushiswap where x% of fees generated go to perform token buyback and burn.

### Protocol Utility

SCV tokens will be a fundamental part of future initiatives providing protocol utility. In particular, we're planning an NFT integration that will require SCV tokens to participate, and will offer benefits relating to various aspects of yield farming.