Tokens

The tokens used on Celestial Finance

Stars

Stars are our share token. The supply for Stars is fixed: never more or less than 100.000 Stars. Stars are given as a reward to investors who stake LP in the farms, which we have named "Fields of Elysion". Because we offer NFT's that can increase one's yield in the farms, we cannot be certain when we're out of Stars to reward holders with, but likely we'll have enough to last us months into 2024. Before we reach the end of our Stars, though, we should have found other ways for enough LP to be held and enough other reasons for investors to hold our tokens. The phase where Stars is being rewarded is therefore to be seen as the "bootstrap phase", which is essentially the first phase of a seigniorage protocol. Once all Stars are rewarded, the only way to get them is via the open market.

Radiance

Radiance is our peg token, and it is pegged to BUSD. This means that we'll print Radiance every epoch (6 hours) whenever the price of Radiance is higher than one BUSD, and we'll stop printing as soon as its price is lower than one BUSD. The Radiance is printed in our boardroom, which we call Apollo's hall, and granted to investors who have staked Stars-BUSD LP or just Stars. The supply of Radiance is unlimited and elastic, meaning that as long as there is demand, we'll print more, and also meaning that there can be contraction of total supply. In our ecosystem we do our best to find engaging ways that give our investors a good chance to increase their profit while having the side effect of contracting supply. These contraction mechanisms will ascertain that over time demand will always outpace supply.

Glow

Glow is our bond token. Whenever Radiance is under peg, some Glow becomes available and it can be obtained by burning Radiance on a 1:1 ratio. When the price of Radiance goes back over peg again, that Glow can be burned again for newly printed Radiance. The treasury always sets aside Radiance to repay Glow holders before it prints Radiance for stakers of Stars-BUSD or Stars in Apollo's Hall. Be careful with Glow though, because as long as Radiance is under peg, Glow cannot be exchanged for anything.