Adamant Token (ADDY) is the native token of the Adamant Finance platform and provides value for liquidity providers, farmers, and token stakers. You can earn ADDY by using the vaults or by buying it on Quickswap. For every 100 ADDY minted, 15 additional ADDY will be minted to the developer fund to ensure rapid innovation.
ADDY borrows aspects from the tokenomics of two of the leading DeFi platforms on Binance Smart Chain: Pancake Bunny and Ellipsis, both of which had over $10 billion combined TVL at their peak.
ADDY has an emission system similar to Bunny's, where for every 1 BNB earned in performance fees, 5 BUNNY were minted. In ADDY's case, 380 ADDY are minted for every 1 ETH earned in performance fees. The ADDY token does not have a maximum supply, but the emission rate of ADDY will significantly decrease over time.
ADDY is also only minted based on the profit generated through performance fees. That means excess supply won't flood the market during periods of low revenue, such as a bear market, which ensures that ADDY will retain its value better than other "farm" tokens during suboptimal economic conditions.
ADDY can be staked and locked to earn performance fee dividends and boost the amount of ADDY earned from most of Adamant's vaults. Information on doing this can be found on the Staking LP Tokens to Earn ADDY page and the Locking ADDY page.
The flash loan exploits that affected platforms like Bunny and Harvest involved depositing into a vault, manipulating the price of assets with flash loans, and then manipulating the amount of the reward token minted through various means.
The price calculator that the Minter contract consults gets the price of WMATIC from a Chainlink oracle and mints ADDY based on
min(oracle price, pool price), which means a flash loan attack based on manipulating the price of the underlying asset when claiming ADDY isn't possible. For added security, Adamant's vaults also block smart contracts from depositing into them. Our vaults also guard against other reward manipulation exploits, like the "Merlin" exploit.
Adamant's contracts have been audited by Certik, one of the leading professional auditing firms in the industry.