Very Insurance Fund (VIF)
VIF is the acronym for the VERY Insurance Fund which is a separate wallet in VERY's VAP system. The VIF uses an algorithm that backs the Rebase Rewards and is supported by a portion of the buy and sell trading fees that accrue in the VIF wallet.
In simple terms, the staking rewards (rebase rewards) which are distributed every 5 minutes at a rate of 0.00817% are backed by the VIF parameter, thus ensuring a high and stable interest rate to $VERY token holders.
5% of all trading fees are stored in the Very Insurance Fund which helps sustain and back the staking rewards provided by the positive rebase.
- Avoiding flash crash through price stability
- Achieving longterm sustainability and future growth of the VIF Protocol
- Greatly reducing downside risk