What is $FABLE?
Last updated
Last updated
$FABLE is the driving force behind the Fable ecosystem, powering the range of products and services developed by both our core team and the wider community.
$FABLE has been designed as a scarce resource within the ecosystem. Its deflationary nature means that tokens are consumed or "burned" to access and use Fable's diverse offerings. As a result, the token supply diminishes over time, which helps to preserve its value and encourage its utilization within the ecosystem.
Total Supply: 100,000,000 $FABLE
Every Fable product comes with associated costs, such as API fees for large language models like GPT, or server expenses for running our deep learning models. When users engage with Fable products, these costs are borne by the company. However, by directly selling tokens, Fable can regulate specific variables to ensure that the revenue generated from $FABLE sales surpasses the costs the company incurs for maintaining the API or AI model.
During the Liquidity Bootstrapping Pool (LBP) event, the goal is to sell each token at a price higher than the cost of the responses that the token pays for. After the LBP, Fable will endeavor to supply liquidity to pools such as Uniswap V3, ensuring that the company sells tokens at a value greater than the cost of the products.
The burn rate is the number of tokens you must burn to use a service provided by Fable.
As the price of the token or the cost of a product fluctuates, Fable will modify the required amount of $FABLE to burn.
At inception, Soulswill have a burn rate of 10:1 ($Fable: Response) If demand is high and supply is reducing, we can assume the price of the token will make the cost to use the platform excessive, which is why we will periodically adjust the burn rate, considering the following variables:
The current cost, measured in USD, of the AI products.
The current price of $FABLE, measured in USD.
The number of tokens remaining in circulation.
Reducing the burn rate while demand and/or the price of Fable increases over time allows the circulating supply to never quite reach 0.
Note: To simulate the curve of the Circulating Supply, we made the following assumptions:
100,000 requests will be made per month
The burn rate would be equal to (<circulating supply>/10000000)
In reality, the curve will be less smooth and will fluctuate based on a number of factors:
Usage per month
New product releases
Volatile token price
Cost to run the model
$FABLE tokens will be employed for various use cases within the Fable ecosystem, including:
NFT minting
AI-generated adventure games
NFT chatbots: Souls
By integrating $FABLE into our diverse product range, we aim to foster a thriving ecosystem that supports the growth and innovation of both Fable and its community.
