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Two Token Model
Epoch Island has a two token model: EPOCH + vEPOCH
- EPOCH is used to fund economic development.
- Revenue generated from development is used to buy or back EPOCH.
- vEPOCH holders earn EPOCH for helping increase economic activity.
The native currency of Epoch Island is EPOCH. At time of launch:
- 100% of all tokens were in circulating supply.
- 100% bootstrapped. Never raised any capital.
- 0 tokens reserved for any "team" or DAO treasury.
A true community-owned and fair launch project.
vEPOCH is a non-transferrable voting token of the Epoch Island.
- 1.Influence: Voting power on governance and treasury management
- 2.Rewards: Any time Island revenue is distributed, vEPOCH holders earn EPOCH
- 3.Trading Fees: vEPOCH holders earn LP trading fees (currently 5% per swap)
If you have 1% of all vEPOCH, you have 1% voting power of the city and receive 1% of any EPOCH distributed to holders.
How to Mint vEPOCH
vEPOCH is minted by combining ETH with EPOCH and locking it.
- 1.Go to Epoch Island Dapp
- 2.Pair EPOCH with ETH (80% EPOCH + 20% ETH)
- 3.Lock your EPOCH LP token for any amount of time (1 hour min + 1 year hour max)
- 4.Instantly mint vEPOCH
If you want to unlock early, you simply need to return any EPOCH rewards you earned.
Example: You locked 10 EPOCH LP for 1 year and have generated 100,000 EPOCH rewards. If you want to unlock your vEPOCH back to LP before the year ends, you will need to return your 100,000 EPOCH.
Each time someone unlocks their vEPOCH token early, all the EPOCH rewards they pay back are redistributed to active vEPOCH holders relative to their holdings.
Example: You own 1% of all vEPOCH. Someone exits their position early and must return 100,000 EPOCH. You would instantly receive 1,000 EPOCH rewards.
The LP token is composed of 80% EPOCH and 20% ETH and currently earning 5% trading fees.
The vEPOCH holders can vote to change the trading fee percentage.
Last modified 15d ago