LENO Tokenomics v1
Last updated
Last updated
*Effective Emission is in fact slightly below this amount: an additional 45,000 LENO per day is diverted from the amount allocated to the lottery, and burned (PID 137 - Details below).
In addition to the above, a dynamic amount of LENO is also minted to the Dev address at a rate of 9.09%. This means that if 100 LENO are harvested, then 9.09 LENO is minted in addition and sent to the Dev Address.
All LENO minted to the Dev address is burned in the weekly burn and never enters circulation.
As such, we haven't included it in the above emission rate.
The burning process is currently manual. View burn transactions here.
As well as the above, LENO is also burned in the following ways:
0.05% of every trade made on LenoSwap V2
100% of LENO sent to the Dev address
100% of LENO performance fees from IFOs
100% of LENO spent on Profile Creation and NFT minting
100% of LENO bid during Farm Auctions
20% of LENO spent on lottery tickets
45,000 LENO per day (historically assigned to the lottery) (The LENO for this is generated by a farm - PID 137)
3% of every Prediction markets round is used to buy LENO for burning
2% of every yield harvest in the Auto LENO Pool
2% of every NFT sale on the NFT Market is used to buy LENO for burning
To hit the ground running, LenoSwap launched as an MVP (minimum viable product) with the MasterChef contract emitting 40 LENO per block. For that reason, the early team didn't add additional functions such as the ability to customize the LENO minting logic. As migrating to a new MasterChef would require a lot of time and effort, the team opted to reduce LENO emissions instead through a manual burn process by creating two pools:
Legacy Lottery Pool (PID - 137) - burned LENO from the lottery
Burn Pool (PID - 138) - burned LENO per block
These pools work similarly to the farms, where the Chefs can adjust the percentage of the 40 LENO per block allocated to it after each LENO emission reduction vote.
On the day of the burn, the supply shown on the homepage might suddenly jump by several million LENO.
Don't worry - THIS LENO NEVER ACTUALLY ENTERS CIRCULATION:
This apparent jump is just because of how all the LENO that's allocated for the burn is stored during the week.
The LENO sent to both pools PID-137 and PID-138 are harvested before completing the weekly token burns, and this makes the Total Supply shown on the site jumping by ~6M. This is because pending LENO isn’t registered in the Total Supply until it's harvested on the burn day. Once the token burn transaction is completed, the ~6M is shown in the Burned to Date.
To confirm that the circulating LENO supply shown on the LenoSwap homepage is correct,
Head to the LENO token contract on BscScan and see how much LENO is held by the Burn Address. That's the total amount of LENO that's been burned (removed from circulation FOREVER, and impossible to ever retrieve).
Then, subtract this burned amount from the "Total Supply" that BscScan shows.
This gives you the actual LENO supply.
| Distributed to | Reward/block (% of emission) | Reward/block (total LENO) | Reward/day |
|---|---|---|---|
Metric
Emission/block (LENO)
Emission/day (LENO)
Emission
40
1,152,000
Burned Weekly (PID 138)
-25.75
-787,600
Effective Emission
<14.25*
364,400*
Farms and Lottery
10.62%
4.25
122,400 (approx)
of which diverted and burned
-46,000
Sweet Pools
25%
10
288,000 (approx)
Total Daily LENO Emission
364,400 (approx)
