Tokens
Last updated
Last updated
0x1fE4869f2C5181b9CD780a7E16194FA2c4C4293D
SNO token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain SNO's peg to 1 JOE token in the long run.
Note that SNO actively pegs via the algorithm, it does not mean it will be valued at 1 JOE all times as it is not collaterized. SNO is not to be confused for a crypto or fiat-backed stablecoin.
Initial mint: 400 SNO minted upon contract creation for initial pool
0xe7A102Fbc8AB3581d62830DdB599eCCaae5e7875
SNOSHARES are one of the ways to measure the value of the Snowy Owl Protocol and shareholder trust in its ability to maintain SNO close to peg. During epoch expansions the protocol mints SNO and distributes it proportionally to all SNOSHARE holders who have staked their tokens in the Boardroom.
SNOSHARE holders have voting rights (governance) on proposals to improve the protocol and future use cases within the Snowy Owl ecosystem.
SNOSHARE has a maximum total supply of 65000 tokens distributed as follows:
Team Allocation: 4999 SNOSHARE vested linearly over 1 month
Initial mint: 1 SNOSHARES minted upon contract creation for initial pool
Remaining 60000 SNOSHARE are allocated for incentivizing Liquidity Providers in two shares pools for 1 month
0x8aB4Ac266d8e698b7E39f97Ec17876076680f6f1
SNO Bonds (SBOND) main job is to help incentivize changes in SNO supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of SNO falls below 1 JOE, SNOBONDs are issued and can be bought with SNO at the current price. Exchanging SNO for SNOBOND burns SNO tokens, taking them out of circulation (deflation) and helping to get the price back up to 1 JOE. These SNOBOND can be redeemed for SNO when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for SNO when it is above peg, helping to push it back toward 1 JOE.
Contrary to early algorithmic protocols, SNOBONDs do not have expiration dates.
All holders are able to redeem their SNOBOND for SNO tokens as long as the Treasury has a positive SNO balance, which typically happens when the protocol is in epoch expansion periods.
