ECRV token
governance and utility token for eCurve
The main purposes of the ECRV token are to incentivize liquidity providers on the eCurve platform as well as getting as many users involved as possible in the governance of the protocol.
ECRV will start from 0 supply at initialization and released at a predefined rate every hour. The distribution of tokens will be sent to eCurve liquidity providers (70%), DAD community (15%) and for Worker Proposal System to fund DAO contributions (15%).
ECRV is expected to start releasing on March 15th, 2021 at a rate of 120,000 tokens per hour. This rate of release will continue for 30 days (720 hours) after initialization. At the onset, due to low liquidity in the pool, the higher rate is defined to incentivize LPs to deposit assets early.
Sustained ECRV mining
After genesis mining of 30 days, ECRV rate of release will adjust to 10,000 tokens per hour. This rate will be adjusted after 1 year to reduce by a factor of 2 ^(1/4) with the intention of halving the release rate every 4 years (as inspired from Bitcoin halving cycle).
ECRV token can be received with one of the following manners:
- 1.Provide liquidity to eCurve pools. 70% of tokens released every round (one hour) will accumulate towards eCurve liquidity pool contributors in the ratio of their liquidity. LPs who lock their ECRV token into voting escrow can also get a boost to their ECRV mining rate.
- 2.Lock DAD tokens in governance. 15% of tokens released every round (one hour) will accumulate towards DAD governance pool in vote escrow DAD pool.
- 3.Worker proposal system. 15% of tokens released every round (one hour) will accumulate towards WPS account and will be available to community identified custodians to use for incentivizing DAO development and contributions.
Last modified 1yr ago