As the Defi world continues to gallop along, we see new entrants into the space every day. FURIO is one of the newer entrants, having started back in April of this year with its FUR token. FURIO is a DRIP inspired project, like so many of these new passive income projects coming to market. FURIO brings novel features to make its project sustainable and not subject to the whims and fancies of whales who like to load up their wallets and then dump, crashing the price and leaving ordinary investors hodling their bags, hoping for a price rebound.
FURIO has measures to prevent dumping and to reward investors in a responsible manner. Like DRIP, funds deposited into FURIO’s vault cannot be retrieved, but receives daily interest payments. While DRIP pays a fixed 1% daily, FURIO mixes it up by paying a variable rate ranging from 0.5% up to a maximum of 2.5% daily. Investors can earn up to 360% of the initial principal — which you can compound to increase the deposited balance — and a max payout of 100K FUR tokens. How much an investor earns is based on his or her actions after depositing FUR into the vault, and earnings are completely in their control.
FURIO uses higher interest payments to reward investors who exhibit behaviors that support longevity of the project. Behaviors that could drag the project down are punished with lower returns. Deposits into the FURIO vault starts with a 2% daily return. This can remain at 2%, increase to a maximum of 2.5%, or decrease to a minimum of 0.5%, depending on the investor’s action over a rolling 28-day period. The greater the investor’s compound to withdraw ratio, the better his or her chances of reaching the 2.5%. Below you can see the compound to claim behaviors that lead to higher daily returns.
Investors who withdraw more often than they compound could see their daily rate fall to as low as 0.5%. To get to 0.5% an investor would have to withdraw for seven straight days. Any investor who drops to a lower level cannot go back to a higher level. Any wallet that falls to 0.5% will remain there for the duration of the project. Investors have to be careful how they withdraw to avoid falling to these lower levels. These mechanics are designed to encourage investors to take actions that will make the project more sustainable so everyone can win in the long run.
Investors who compound and withdraw equally continue to earn 2%. These investors have to be careful as any negative move could lead to lower rates.
FURIO has a round robin referral system similar to other Defi projects. Referrers receive 10% of deposits made by their referees. Referrers must hold FURIO NFT’s in their wallets to receive referral rewards, and a maximum of 15 downlines are allowed. Wallets with five referrals are team wallets and will get an additional 2.5% reward on deposits made by their downline. A 5% reward is paid on each compound.
Users incur a tax on most transactions. Buying FUR on FURIO’s site is the only action that does not incur a tax. Most taxes are paid into the vault and used to pay out claims. Taxes help to keep the system sustainable and reduce the need to mint new tokens to pay claims. Minting new tokens would increase the supply of FUR and could lead to a lower price.
FURIO has anti-dumping measures designed to curtail irresponsible whales’ ability to manipulate the price. Any wallet that sells FUR tokens and has no FUR in the vault will be charged a sales tax of 50%. If a wallet tries to sell tokens greater than 25% of what the wallet holds in the vault it will be charged a 50% tax. Each wallet can only make one sale transaction per day.
Since it launched, FUR’s price has followed a pattern similar to many Defi projects, rising at first and then falling. The price went as high as $20 in July but has since fallen to a little below $7. The 2% interest will offset some of the price declines for investors who bought at higher prices if they have been compounding, but prices will need to stabilize for FURIO to be successful.
The developers are building other products around FURIO to grow the system. If the anti-whale measures work and price stabilizes this could be a winner in the Defi space. The higher interest rates compared to DRIP and other similar projects will allow investors to reach their goals quicker if price does not fall too drastically. I will be keeping an eye FURIO as it has good long-term potential.
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