15% of all SEFI supply is reserved for stakers.

SEFI stakers (10%): ⅔ of SEFI allocated for stakers are distributed among SEFI stakers

SCRT stakers (5%): ⅓ of SEFI allocated for stakers are distributed among SCRT stakers

55% of all SEFI supply is initially reserved for SecretSwap users.

Liquidity providers (41.25%): Liquidity providers are allocated 75% of user rewards. LP tokens for eligible pools can be staked in order to receive SEFI tokens. These include LP tokens from other chains (e.g., Uniswap, Sushi).

Traders (13.75%): Traders receive 25% of user rewards through a cash-back mechanism. Cash-back tokens are minted with each trade (weighted by trade volume). In other words, traders accumulate cash-back tokens every time they trade. These cash-back tokens can be burned to redeem SEFI tokens.

There is smart contract risks associated with staking SEFI which are not currently considered to be a large risk.

SEFI is the governance token for the Secret DeFi ecosystem. (It’s short for Secret Finance, and yes, it rhymes with DeFi.)

Enigma builds and supports groundbreaking privacy-focused technologies and networks. They are a core contributor to the Secret Network, a unique blockchain-based network where computations can be performed on encrypted data.

Enigma’s mission: improve the adoption and usability of privacy-first products, for the benefit of all.

The SEFI token will be distributed in a one-time genesis event as well as to SecretSwap users over four years. The token emission and the details of each class of rewards can be seen here. SEFI is non-inflationary with a fixed supply.

10% of SEFI will be distributed at genesis. The remaining 90% of tokens would be distributed over four years, with rewards halving year over year. These parameters (e.g. weighting of rewards between LP Providers and Traders) could change in the future through governance.