What Is The Fire Token (XFR)? Coin Review? Guide About The Fire Token

What Is The Fire Token (XFR)?

The Fire Token is the world’s most deflationary asset (90% anual), so every day 0.6% of supply disappears. This token is built on the Binance Smart Chain (BSC). The live The Fire Token price today is $4.10e-8 USD with a 24-hour trading volume of $318.22 USD. 

They update XFR to USD price in real-time. The Fire Token is down 0.01% in the last 24 hours. The current CoinMarketCap ranking is #7271, with a live market cap of not available. The circulating supply is not available and a max. supply of 100,000,000,000,000 XFR coins.

If you would like to know where to buy The Fire Token Coin at the current rate, the top cryptocurrency exchange for trading in The Fire Token stock is currently XT.COM. You can find others listed on crypto exchanges page.

Important Points Table Of The Fire Token Coin

How to Buy the Continental & Trade On Exchange?

Why people would invest in XFR

Anyone looking to buy and hold XFR will be rational to do so if they expect that the price of XFR will increase at a higher rate than their nominal account balance will decrease. For example, suppose They buy 10 million XFR at 0.0001 USD each (or about 1,000 USD). Suppose also I read the XFR white paper and I know that my nominal account balance will fall by 0.6288% per day. I plan to hold on to these XFR for a year, so They sit down and do the math and find that after I year I will have approximately.

Now the question becomes what would make people expect the price of XFR to rise
faster than their nominal account balance is going down. Why would they expect that
the real value of XFR will increase over time. Here we can point to the fact that XFR is
the first asset of its kind and that the nominal price is under great pressure to increase.
This provides the coin with a significant publicity mechanism to attract new investors
and to expand the size of the network.

Small account balances

Small account balances pose a challenge to the system. Each XFR is divisible by 18 decimal places. If someone deposited 3×10^(-18) Fire to an account, then the system would not be able to upgrade the account balance according to the algorithm described above, as 3×10^(-18) XFR multiplied by 0.993712 is 2.981136 x 10^(-18) XFR,

but they only have 18 decimal places to play with. So this account will have 2 x 10^(-18) XFR after one day, 1 x 10^(-18) XFR after two days, and 0 XFR after three days. This means accounts with very small account balances will experience a higher burning rate than other accounts. However, these amounts are so small this is unlikely to cause major problems for the system.

Exchanges

Because some exchanges have already listed Ampleforth, a cryptocurrency with a similar re-basement policy, they can analyze the way they have done it and use it as a blueprint for how exchanges would probably manage listing The Fire Token . Bitfinex, for example, implements the following three policies close to the time of the AMPL rebasement.

Exchange Deposits & Withdrawals – are paused 10 minutes before the start of each rebase window
• New Trades are Paused – 1 minute before the start of each rebase window
• Everything Resumes – 30 minutes after the start of each rebase window
• Traders that have open orders in AMPL markets on Bitfinex after the oncedaily supply change event will not have those open orders amended. However, if they do not have the AMPL funds to cover the orders after the rebalancing event, then they will see their orders only partially filled if
subsequently matched in the market.

Derivative markets

When perpetual future contracts develop for The Fire Token , they will likely always have a high, positive funding rate. So longs would pay shorts a relatively high percentage of their position, in order to compensate for the daily debasements. This is, of course, if XFR derivative markets develop in the same way AMPL derivative markets did, where the contract keeps its nominal value regardless of the debasement of the underlying asset.

XFR margin trading

Implementing The Fire Token margin trading would be relatively straightforward for exchanges, as the burning rate is constant. Exchanges would probably have a negative nominal interest rate, that is nonetheless smaller in absolute value than the burning rate. So, for example, if an exchange allowed for XFR lending and borrowing of the underlying asset for margin trading, they could set a nominal interest rate of -50% yearly. Because 90% of the XFR in existence disappear every year, this would be the equivalent of setting a nominal interest rate of about +40% every year for an asset with no debasement.

How Many XFR Coins Are There in Circulation?

The Fire Token was launched on the first of May, 2021 with 100 trillion XFR tokens created at genesis. From the beginning of the token’s existence the account balance of every holder of XFR will fall daily a rate such that every year for about 12 years 90% of the XFR are burned. That is, 99.99% of the XFR will be burned in the next 12 years, and only about 100 XFR will remain in the end. The burning rate is a function of time and affects each address holding XFR equally and constantly.

The Fire Token was conceived by expert economists:

• Juan Correa (Founder and CEO): Juan read Politics Philosophy and Economics at the University of Oxford and Computational Statistics at the Università Bocconi in Milan. He wrote his Masters degree thesis on “The Economic and Psychological effects of an Aggressive deflationary policy.”
• Simon Ford (Economics Advisor): Simon holds a PhD in Economics from the London School of Economics. He has worked as a consultant, a journalist and a British diplomat. Currently he is a full-time entrepreneur.
• Fabio Sánchez (Senior Software Engineer): Fabio brings more than 10 years of experience as a software developer and entrepreneur. His expertise encompasses a wide range of disciplines and programming languages.
• Leonardo Giro (Business Development): Leo studies Business Administration at the University of Buenos Aires, Argentina. He has seen first hand the effects of government driven inflation and joined our team to promote alternative monetary regimes that help combat it.