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$EVE
hold the sun.
What the token does: staking and buybacks. What is decided and what is not.
simulation Simulation only. The protocol is not live. No transaction is ever sent.
$EVE is the protocol's token. This page is short on purpose: it states what has been decided, and marks everything else as undecided rather than filling the gaps.
What it is for#
hold the sun.
Two things are decided. Part of the fees sellers pay:
- goes to stakers of $EVE;
- funds buybacks of $EVE.
Both come out of the same fee that pays depositors and funds the reserve. See Fees.
Staking#
Stake $EVE and receive a share of protocol fees.
| Item | Value |
|---|---|
| Share of fees paid to stakers | 5% todo |
| Cooldown to unstake | not decided todo |
| Staking contract | not decided todo |
What stakers receive depends on fee income, which depends on how much is sold through the protocol. It can be zero.
Buybacks#
Part of the fees is used to buy $EVE on the open market.
| Item | Value |
|---|---|
| Share of fees used for buybacks | 5% todo |
| What happens to bought-back tokens | not decided todo |
The fee split, in full#
| Recipient | Share of each fee | What it does |
|---|---|---|
| USDC depositors | 70% todo | Paid into the pool: the share price goes up. |
| Reserve | 20% todo | Builds the buffer that covers gaps larger than the haircut. |
| $EVE stakers | 5% todo | Distributed to staked $EVE. |
| $EVE buybacks | 5% todo | Buys $EVE on the open market. |
Supply and distribution#
| Item | Value |
|---|---|
| Chain | Base |
| Contract address | not decided todo |
| Total supply | not decided todo |
| Distribution and vesting | not decided todo |
| Launch | not decided todo |
What is not decided#
Everything tagged TODO above, and in particular:
- total supply, allocation and vesting;
- the exact share of fees for stakers and for buybacks;
- whether bought-back tokens are burned, held or distributed;
- any unstaking delay;
- whether the token has any role in governance.
What it is not#
- It is not needed to sell or to deposit, as far as the design goes today.
- It is not a share in the pool. Depositors' claims are pool shares, which are separate. See Depositing.
- It is not a tokenized stock.
All values on this page are read from the token section of the site's config file, so when a decision is made it changes here, on the home page and in the simulator at once.