Ethereum Victory ($EVIC) is a crypto (specifically ETH) pegged stablecoin issued by Champion Finance, a Avalanche network based multi pegged elastic-algorithmic token launch project with rebase mechanism.
The protocol's underlying mechanisms dynamically adjusts $VIC supply, keeping its price stable relative to the price of its pegged token.
Champion Finance is a multi-token protocol which consists of the following tokens:
Victory ($VIC), also known are pegged tokens: AVIC (pegged to USDC)/ EVIC (pegged to ETH)/ BVIC (pegged to BTC)
Champion ($CHAM): $CHAM is one of the ways to measure the value of the Protocol and shareholder trust in its ability to maintain $VIC close to peg.
During epoch expansions the protocol mints $VIC and distributes it proportionally to all $CHAM holders who have staked their tokens in the Boardroom.
$CHAM holders have voting rights (governance) on proposals to improve the protocol and future use cases within the Champion finance ecosystem.
Farm; AVIC Boardroom & EVIC Boardroom are current use case for $CHAM. On the Project roadmap, the team is going to build further incentive use cases for $CHAM such as Raffle, Launchpad, Lending & Borrowing
In order to build a strong peg token with deep liquidity that will bring a sustainable and healthy protocol and benefit investors in the long term, we add selling tax on EVIC for 48 hrs of Genesis Launch. After Genesis, all the taxes will be removed. All the taxes will go to Protocol Owned Liquidity Multisig.
Selling tax is based on EVIC price as follows:
- EVIC price between 0.9-1: 5% tax
- EVIC price between 0.8-0.9: 10% tax
- EVIC price below 0.8: 20% tax
- Within 24 hrs after rebase: 30% tax
Tax will be charged when you sell EVIC or add EVIC liquidity in Trader Joe. Pls make sure you only create LP with "Create/Remove LP" function on CF website homepage.
