Question 1

What is FF, and how does it differ from USDf?

Accepted Answer

FF is Falcon Finance's native governance and utility token, used in the participation and incentive framework designed for the protocol. It is not USDf: USDf is a synthetic dollar product in the Falcon Finance ecosystem, while FF is a token with different uses and a different supply structure. Accordingly, holding FF does not mean holding a dollar-denominated asset, nor does it automatically represent equity in Falcon Finance, fixed income, or redemption rights. Specific available functionality is subject to the product rules deployed by the protocol at the relevant time.

Question 2

How do sFF and rewards work after staking FF?

Accepted Answer

When FF is staked, the protocol issues sFF to users at a 1:1 ratio: staking 1 FF corresponds to 1 sFF. sFF is a receipt for the staked position, used to identify that position's eligibility in protocol mechanisms, rather than a separate new asset unrelated to FF. The official mechanism states that relevant rewards are distributed in FF. Whether rewards are generated and their amount depend on protocol performance and applicable rules; “staking” should not be understood as a fixed-rate promise. During the unstaking process, tokens in the cooldown period no longer accrue rewards.

Question 3

Why is unstaking FF not immediately settled?

Accepted Answer

To convert sFF back into claimable FF, users must first initiate unstaking and then undergo a three-day cooldown period; FF can be claimed only after the cooldown ends. This waiting stage means that initiating unstaking and becoming available for use again do not occur at the same time. During these three days, the corresponding position no longer accrues rewards. Therefore, users who need to use FF in the short term should consider both the cooldown period and the effect of forgoing rewards during that period, rather than assuming they can exit immediately at any time.

Question 4

Can holders of FF or sFF participate in governance now?

Accepted Answer

FF's governance positioning does not mean that voting is currently available. The official governance documentation explicitly states that governance functionality for sFF holders remains under development, and lists proposal voting and similar functions as future plans. Therefore, holding FF or sFF should not currently be described as a right to participate directly in protocol voting. If governance launches in the future, actual eligibility, voting-power calculations, and votable matters will remain subject to the rules deployed at that time.

Question 5

How are FF's total supply and initial allocation arranged?

Accepted Answer

FF has a total supply of 10 billion tokens. In the official allocation, the ecosystem accounts for 35%, the Foundation 24%, and the core team and early contributors 20%; the remaining shares are allocated to community airdrops and sales, marketing, and investors. “Allocation” indicates the share ultimately reserved for a category; it does not mean that all of those tokens have already entered market circulation. To assess potential tradable supply, the category's initial release and subsequent vesting rules must also be considered.

Question 6

How do FF's initial circulation and team and investor vesting affect supply analysis?

Accepted Answer

At the token generation event (TGE), approximately 2.34 billion FF, or 23.4% of the total supply, is planned to circulate. This describes the initial circulating-supply basis, rather than the entire circulating supply at any future point in time. The core team and early contributor allocations, as well as investor allocations, are each locked for one year first; after the lock ends, they vest over three years. These categories therefore are not all released at TGE at once, and subsequent unlocks can change potential circulating supply as vesting progresses.

Question 7

How can staking and unlock mechanisms affect the understanding of FF's tradable supply?

Accepted Answer

FF's market performance cannot be inferred directly from the labels “governance token” or “stakeable.” Staking may affect whether some tokens temporarily remain in staked positions; reward rules, the three-day unstaking wait, and subsequent unlocks may affect when holders can use tokens again. These mechanisms affect tradable supply and willingness to participate only under particular conditions, and do not guarantee rising demand or price appreciation. Deployed functionality should also be distinguished from future plans to avoid treating governance functionality still under development as a current source of value.

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