

This ecosystem is built on top of the high-performance Proof of History (PoH) technology made possible by the Solana layer 1 blockchain. In the current state of the market, most DeFi projects run on congested and backdated networks with staggering fees incurred on every transaction.
The ground-breaking technology that Solana brings to the table with PoH solves the problems of scalability and practicality to bring billions of people into an integrated world of digital assets. In its current state, the network can process over 50,000 transactions per second with near-zero latency and is capable of scaling to over 700,000+
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The initial token distribution was completed on April 4, 2021 as an airdrop to thousands of people from all over the world as ROPE, and as mentioned will undergo a 1:1 token swap to PHASE on February 1st 2022.
The remaining tokens that aren't listed as 'existing ROPE supply' will be vested through the Bonfida Vesting Contract, and the softened cap will serve as a means to safeguard the index pool from depletion via a mint/burn mechanism—a feature that can increase or decrease the total supply when utilized. This mechanism will be described in greater detail later on in this paper.







