Extra Finance $EXTRA

Extra Finance is a novel cryptocurrency project that centers on leveraged yield farming and lending protocols. The platform, which is built on Optimism, offers users the opportunity to deploy tailored farming strategies and earn lending interest by depositing into lending pools. This innovative approach sets Extra Finance apart from other projects in the crypto space.

About Extra Finance

Extra Finance was launched on testnet on Optimism on March 23, 2023, with the mainnet launch taking place on May 9, 2023. The project's roadmap includes various developmental initiatives for the coming months and years.

Extra Finance's Roadmap

The future promises exciting advancements for Extra Finance. In Q3 of 2023, the project looks to integrate CLAMM, develop one-click yield farming templates, and a yield farming simulation and calculation tool. In Q4, the release of Advanced Strategy Vaults is anticipated, with Social Farming and Extra Finance V2 expected to follow in Q1 of 2024.

Utility of Extra Finance Tokens

Extra Finance utilizes two tokens for its functions, namely `$EXTRA`, the protocol's ERC-20 utility token, and `$veEXTRA`, the governance token. `$EXTRA` is primarily used for rewarding liquidity providers, while `$veEXTRA` is used for governance. Any `$EXTRA` holder can vote-escrow their tokens and receive a `$veEXTRA` in exchange.

Benefits and Features of `$veEXTRA`

Holders of `$veEXTRA` can unlock a range of benefits and features. These include APR rewards from protocol fees and `$EXTRA` token incentives, up to 4x leverage for yield farming pools, access to high utilization rate lending pools, and voting power in Extra Finance's on-chain governance process. The protocol fee includes various tokens collected into the treasury and is shared once per epoch. This fee is used to buy back `$EXTRA` tokens from the market and distribute them to holders of `$veEXTRA` tokens. `$veEXTRA` holders are also assigned a portion of the `$EXTRA` tokens allocated to the community, subject to a specific emission plan. At the end of each epoch, these rewards will accumulate.