handleFOREX PriceFOREX

What is handleFOREX (FOREX)?

handleFOREX (FOREX) is the native governance token of handle.fi, a decentralised multi-currency stablecoin protocol that enables users to create and exchange multi-currency stablecoins known as fxTokens. Positioned as "the global DeFi FX protocol," handle.fi operates on Ethereum as an ERC-20 token and is also present on Arbitrum and Polygon. The protocol addresses a notable gap in decentralised finance: while USD-backed stablecoins dominate with trading volumes in excess of $70 billion per day, there has been very little issuance of other representative decentralised stablecoin currencies. handle.fi aims to change this by allowing DeFi participants to gain access to alternate currency exposure for hedging, speculation, and payments.

The FOREX token has a total and maximum supply of 420,000,000 tokens. A total of 420,000,000 FOREX is distributed across an initial 182-week period, followed by a 2.1% annual terminal inflation. The token launched on September 21, 2021, and was listed on CoinMarketCap on September 10, 2021. It is primarily used for protocol governance. According to Etherscan, no contract security audit has been submitted for the token contract; the source code is verified as an exact match on Etherscan. handleFOREX represents an early-stage DeFi infrastructure project focused on foreign exchange markets.

Key Specifications & Tokenomics

• Name: handleFOREX
• Ticker / Symbol: FOREX
• Blockchain / Platform: Ethereum (ERC-20), also deployed on Arbitrum and Polygon
• Token Contract Address (Ethereum): 0xDb298285FE4C5410B05390cA80e8Fbe9DE1F259B
• Token Contract Address (Arbitrum): 0xDb298285FE4C5410B05390cA80e8Fbe9DE1F259B
• Token Contract Address (Polygon): 0xDb298285FE4C5410B05390cA80e8Fbe9DE1F259B
• Contract Name: Forex
• Compiler Version: v0.8.0+commit.c7dfd78e
• Decimals: 18
• Total Supply: 420,000,000 FOREX
• Max Supply: 420,000,000 FOREX
• Circulating Supply: Circulating supply is self-reported as 114.17M FOREX (about 27.18%) on CoinMarketCap; onchain figures differ by network (Etherscan lists 184,692,875 FOREX on Ethereum).
• Category: DeFi, Multi-Currency Stablecoin Protocol, Governance Token
• Tags: Ethereum Ecosystem, Arbitrum Ecosystem, AI Applications
• CertiK Rating: 3.2 (on CertiK's own scale)
• Launch Year: 2021
• Official Website: https://handle.fi
• Technical Documentation: https://docs.handle.fi
• Source Code: https://github.com/handle-fi

Who created handleFOREX?

Antonio Nacoud is listed as Co-Founder and COO of Handle. He is described as a builder and operator focused on building the largest AI workforce in the world. The project publishes links to its X (Twitter), Telegram, Discord, GitHub and blog channels from its official pages.

How does handleFOREX work?

handle.fi operates as a decentralised multi-currency stablecoin protocol. Users can create and exchange multi-currency stablecoins called fxTokens. The protocol is built around several core mechanisms designed to maintain stability and efficiency. Multi-collateral vaults allow for capital efficiency, decreased liquidation probabilities, and increased asset utilisation. A 1:1 redemption facility helps ensure fxTokens maintain their peg value. Protocol fxKeeper pools ensure efficient liquidations to maintain system collateralisation. Partial vault liquidations ensure users do not forfeit more collateral than is required to maintain their debt positions. A protocol-controlled treasury generates additional returns on staked collateral.

Users of the handle.fi protocol can settle trades in their local currency, removing foreign currency risks; borrow against crypto assets in their local currency, reducing conversion fees; convert between multi-currency stablecoins efficiently; earn rewards for liquidity provision in trading and keeper pools; earn arbitrage profit from 1:1 redemptions; and speculate on foreign exchange movements.

What makes handleFOREX unique and valuable?

handleFOREX differentiates itself by targeting the global foreign exchange market. Global foreign exchange markets trade an average of $6.6 trillion per day; total 2020 turnover was in the vicinity of $2.409 quadrillion. While the vast majority of DeFi stablecoin activity is concentrated in USD-backed assets, handle.fi focuses on providing decentralised exposure to other currencies. This creates a unique value proposition for DeFi participants seeking alternate currency exposure for hedging, speculation, or payments. The protocol's multi-collateral vault system, 1:1 redemption facility, fxKeeper pools, and partial liquidation mechanism collectively aim to create a capital-efficient and stable environment for multi-currency stablecoin issuance and exchange.

What is handleFOREX used for?

FOREX is the governance token of the handle protocol. It is distributed as a reward for protocol-accretive actions by participants and allows holders to contribute to protocol governance. A total of 420,000,000 FOREX is distributed across an initial 182-week period, followed by a 2.1% annual terminal inflation. Token holders can participate in decisions that shape the future direction of the protocol. The token also serves as an incentive mechanism to encourage liquidity provision and other activities that benefit the ecosystem. A full breakdown of allocation, vesting, supply distribution and unlock dates is published at https://app.tokenomics.com/tokenomics/handle-fi (tokenomics snapshot dated September 20, 2021).

How Is the handleFOREX ecosystem developing?

The handle.fi ecosystem is centred around fxTokens, which are multi-currency stablecoins created and exchanged on the protocol. The ecosystem includes multi-collateral vaults, a 1:1 redemption facility, fxKeeper pools, partial vault liquidations, and a protocol-controlled treasury. FOREX is tracked on major aggregators such as CoinMarketCap and CoinGecko, and its contract activity can be verified on Etherscan, Arbiscan and PolygonScan. The token is deployed on Ethereum, Arbitrum and Polygon, with trackers on Etherscan, Arbiscan and PolygonScan. The token currently trades on 23 active markets. According to the Etherscan token page, there are 1,417 holders on Ethereum and 1,544 on Arbitrum (Arbiscan token page).

How to mine handleFOREX?

FOREX is not mined through traditional proof-of-work mechanisms. As an ERC-20 governance token on Ethereum and Arbitrum, it is distributed as a reward for protocol-accretive actions by participants. Users can earn FOREX by providing liquidity in trading and keeper pools, participating in protocol activities, and contributing to the ecosystem in ways that benefit the handle.fi protocol. The token distribution is scheduled across an initial 182-week period, with a total of 420,000,000 FOREX allocated for distribution.

How to keep your handleFOREX Coin safe?

Since FOREX is an ERC-20 token on Ethereum and also exists on Arbitrum, it can be stored in any compatible wallet that supports these networks. Users should ensure they use reputable, well-reviewed wallets and always verify contract addresses before interacting with any token. The official Ethereum contract address is 0xDb298285FE4C5410B05390cA80e8Fbe9DE1F259B and the Arbitrum contract address is 0xDb298285FE4C5410B05390cA80e8Fbe9DE1F259B. Hardware wallets provide an additional layer of security for long-term holdings. Users should never share private keys or seed phrases, and should be cautious of phishing attempts and fake tokens. According to the Etherscan token page, no contract security audit has been submitted for the contract; the source code is verified as an exact match, which lets users review it independently.