Flama Ecosystem is a platform for building dApps with enhanced features like staking. On the other hand, Flapp is the utility token used to pay the protocol fees.
In this way, these enhancements give us the ability to create innovative features like Inverse Lending. So, one of the requirements to be able to enjoy the Flama Network and DeFi functions such as the Staking Platform, among others, will be to buy the token.
FMA token is deflationary. In this case, 3% of the total transaction is burned, 1% will go to the stakers and the remaining 2% disappears.
Once we have a FMA in our wallet, we follow this steps:
- Choose the FMA amount you want to STAKE. Click on STAKE and confirm on Metamask.
- Now your FMA becomes FSS in STAKE. Stakeholders get 1% FMA burned as FSS and they will go back to FMA when UNSTAKE (you can UNSTAKE all you want, whenever you want).
The more FMA burns, the more participation rewards and the less total supply in the market and the revaluation of Flama over time.