FabsPrice

(FABS)

The FABS token refers to two separate initiatives: a decentralized DeFi stablecoin protocol and a LUKSO ecosystem memecoin. The DeFi protocol is an over-collateralized system focused on stability and yield through staking. The LUKSO-based token is a community-led memecoin created as a cultural tribute to the founder of the LUKSO blockchain. Because these are entirely different projects on different networks, users should verify contract addresses before interacting with them.

In the DeFi protocol, users earn rewards by depositing tokens into a Stability Pool. This pool is used to facilitate the liquidation of under-collateralized positions. Participants receive two types of rewards for this service: discounted collateral from the liquidations and governance token emissions. These rewards typically accumulate in real-time and can be claimed through compatible Web3 wallets, provided the user covers the necessary network gas fees.

FABS functions as the liquid token, whereas veFABS (vote-escrowed FABS) is a non-liquid version obtained by locking your tokens for a specific duration. Holding veFABS is essential for users who wish to participate in governance voting and boost their staking rewards. While the Stability Pool generally allows for immediate withdrawals, locking tokens for veFABS involves a fixed commitment period.

The LUKSO-based FABS token is a pure memecoin designed as a community tribute, and the project is transparent about its lack of technical utility. One of its key features is a 0% buy and sell tax policy. This means no portion of a transaction is automatically diverted to developer wallets or liquidity pools, allowing for fee-free trading outside of standard network gas costs.

The LUKSO Fabs memecoin originally had a supply of 69,420,000 tokens. To manage the circulating supply, a significant community-led event known as the "Fabian burn" was executed. This process permanently removed a large portion of the tokens from circulation, bringing the total supply down to approximately 52.9 million FABS.

Fabs is not a standalone Proof-of-Stake network but rather a decentralized application or token built on existing blockchains like LUKSO or the Cronos ecosystem. It is compatible with standard Web3 wallets and the LBank Wallet. Users looking for the memecoin version typically interact with decentralized exchanges on the LUKSO blockchain, while DeFi users interact with the specific dApp associated with their chosen protocol.