Abax Token
Last updated
Last updated
The ABAX token holds a central position within the Abax ecosystem, serving multiple key functions. First, any ABAX holder can stake tokens in the Governor Smart Contract to participate in governance. In this way, one gains the right to vote, receive governance rewards, and with a large enough contribution, also the right to submit proposals. Secondly, the Token can be used to impact loan fees. It will be able to be used to both decrease the interest rate paid by borrowing and increase the interest earned on the deposit. The final form of this functionality will be decided by the governance. The token also remains open to new functionalities, with governance empowered to make decisions on their implementation.
The initial distribution of ABAX tokens is as follows:
Public Contribution: 20% (8% instantly and 12% vested over 4 years)
Founders: 20% (4% instantly and 16% vested over 4 years)
Foundation: 2%
DAO Treasury: 58% (Locked)
Tokens locked in DAO Treasury can only be unlocked by the DAO Governance. This allocation is meant to be used for cases such as protocol liquidity incentives, partnerships, bug bounties, and other possible incentive programs.
There will be an annual token inflation equivalent to 10% of the initial supply, which will be allocated according to Governance decisions. Initially, half of the annual inflation will be distributed as Governance Staking Rewards, while the other half will be allocated for development purposes. The DAO will have the authority to adjust the inflation rate and modify how the inflation is distributed.
