Understanding $CORL

Token symbol: $CORL

Blockchain: BNB Chain

Token Contract: 0x12d7aCd35ee15567837930d7f81D3ABFB377CC89

Exchanges: Not listed yet

What Is CORL?

CORL is the primary native utility token of Coral Finance. CORL is expected to serve several functions for the protocol including adding liquidity in the premium pool to unfreeze cTokens, staking in the pool to generate yields, rewarding users for adding liquidity in the farms, paying the fee for derivatives products, and incentivizing community on interaction with Coral Finance and on governance.

In order to make CORL deflationary and valuable, Coral Finance plans to burn CORL quarterly and remove the amount from circulation, reducing inflation pressure.

Burn Mechanics

Coral Finance aims to make CORL become a deflationary token. The rate at which we remove CORL from circulation is higher than the rate at which it is added. Coral Finance will be implementing several mechanics that burn CORL to control inflation.

Earn CORL

We plan to offer several ways for users to get CORL and will announce the plan soon