Stabilize team introduces the new cashback token called Stabinol

As the demand of Ethereum DeFi continues to increase, new solutions to help the common person participate in DeFi are needed, otherwise the freedom that DeFi brings to the financial world will be relegated to whales only. It is unreasonable to expect someone to deposit $1000 in DeFi to earn 10% APY while paying a $200 gas fee.

Because of these conditions, the team of Stabilize Protocol will rollout a new token, Stabinol, that will be designed to offset the ETH cost of doing business in the Stabilize ecosystem and in DeFi in general. The token takes advantage of supply and demand dynamics to create a system that can reimburse token holders for their ETH expenditures.

What makes Stabinol unique?

Unlike other cashback tokens in existence, Stabinol will not only reimburse gas costs but all ETH spends up to a certain limit. If you’ve ever had a cashback credit card that gives cashback on all expenses, Stabinol will be similar to this. This cashback will be an ETH equivalent given in Stabinol token.

The process of rewarding the cashback is entirely decentralized. There are no centralized databases or governance deciding when to send you tokens. There are no gimmicky referral systems. There will be no initial token sale. Users simply go to the claim contract to redeem their cashback.

How it will work:

To earn a cashback, users must first buy Stabinol tokens on Uniswap and add liquidity to the Uniswap ETH pair for the token. Then users must stake the Uniswap LP tokens received in the Stabinol staking contract for at least 24 hours. As this token is developed by the Stabilize ecosystem, users must also stake for 24 hours a certain amount of Stabilize token (STBZ).

Afterward, at least once every 24 hours, the user can claim a cashback and receive back a percentage of the value of the Stabinol tokens held by the user in the liquidity pool up to a certain monetary maximum for ETH spent since the last claim.

Initially, the tokens will be newly minted to the user. But after the maximum number of tokens are created, there will be a new per transaction fee taken from each Stabinol sender that will go to refill the balance of the claim contract so that users can continue to claim a cashback without causing runaway inflation.

For example, say the current cashback percentage is 25% of holdings and the monetary maximum is $200. A user spends $150 worth of ETH one day paying gas fees and buying tokens and the user’s holding of the Stabinol token is worth $10,000. When the user claims, he/she will receive $150 worth of Stabinol tokens to reimburse the entire daily ETH spend. Let’s say the user spends $1000 worth of ETH the next day, he/she will only receive $200 worth of Stabinol tokens as that is the maximum amount claimable at a time.

The exact details of what the percentages and amounts will be, are to be determined by an upcoming Stabilize governance vote. Follow Stabilize on Twitter and join the Stabilize Telegram and Discord to find out when voting happens.

Initial Distribution:

As was mentioned earlier that there will be no token sale for Stabinol, the token will be airdropped / claimable to holders of the Stabilize token. The team will take a snapshot at a future date and set a minimum amount of STBZ balance that will be required to participate in the airdrop. The team and its community moderators will also be given some of the initial distribution to create liquidity for the new token.

More details will follow after the governance voting that will break down the initial distribution and the tokenomics of the Stabinol token.

Please remember, do not buy any other token claiming to be Stabinol. We will announce the release and token contract when the token has been created.

Disclaimer:

Before participating in the Stabinol cashback program, remember that this process is experimental and new, even though it is modeled on working systems. There is an expectation that the process will be powered by market dynamics and be self-sustaining but that is not a guarantee. Do not invest more than you are willing to lose.

Learn more about Stabilize and when to expect Stabinol

Visit the website, follow us on Twitter and join the community on Telegram and Discord

Website: stabilize.finance
Twitter: @StabilizePro
Telegram: StabilizeProtocol
Discord: StabilizeProtocol