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fire
FIRE | Promethios Crypto Research
Private Research
What is the project about?
FIRE is a rebasing token targeting $0.01 USD. It is designed as a Multichain Stable Unit of Account for use in Gamefi and On-chain Markeplaces. Rebasing changes the supply of the Token in pools and wallets simultaneously in order to change the price without changing the overall market capitalization or purchasing power.
What makes your project unique?
FIRE is not a stablecoin, but through rebasing can still offer the benefits of a Stable Unit of Account. That means if fishing in a game costs 5 FIRE it costs 5 cents. FIRE also supports cross-chain rebasing.
History of your project.
Promethios launched late May 2023. They launched simultaneously on Ethereum, Arbitrum, and Optimism with 6.9% of the supply locked in LP positions. In early June they airdropped 12.8% of the supply to the community with Airdrop0. It was founded by Van Ghoul(xGhoul0x) who was one of the founders of Based.Money during Defi Summer in 2020.
What’s next for your project?
Growing the community and supported projects. Including a mechanism to profit share with Token Holders and Partner Projects.
What can your token be used for?
The token is the product. It can be used in participating projects and partnerships that integrate the token and the FIRE community.
