[Delio] Introduce DSP, the governance token of Delioswap
Delioswap protocol is a peer-to-peer mechanism for trading Ethereum-based cryptocurrency (ERC-20 tokens).
The protocol is built as a collection of non-upgradable smart contracts that prioritize censorship resistance, security, and self-custody while operating without the need of any trusted intermediates who may arbitrarily limit access.
What is DSP?
Delioswap is a decentralized permissionless crypto exchange built on top of Ethereum network infrastructure. Delioswap allows trading of ETH to ERC-20 tokens and ERC-20 to ERC-20 tokens.
DSP is a governance token of Delioswap protocol allowing holders to influence and vote on future development decisions.
The owner of DSP can participate in Delioswap’s governance. The more DSPs you hold, the more voting power you will have in Delioswap ecosystem.
DSP’s contract address: 0x8C661806f716652B637728355cC4e2620D428F99.
1. Delioswap ecosystem governance
As a governance token in Delioswap, DSP holders can raise DSP through delegation process to present proposal and/or vote in the interest of Delioswap governance according to the Delioswap’s voting policy.
2. Delioswap Liquidity Mining
DSP will be used in contributor grants, community initiatives, liquidity mining, and other programs to encourage more participation of Delioswap and improve Delioswap protocol and ecosystem.
500 million DSP have been minted at genesis and will become accessible in 4 years according to the following allocation process:
- Delioswap community members: 300,000,000 DSP (60%)
- Team members and future employees with 4-year vesting: 100,000,000 DSP (20%)
- Investors and advisors with 4-year vesting: 100,000,000 DSP (20%)
Airdrop (75,000,000 DSP)
75,000,000 DSP can immediately be claimed by Delio’s users and early LPs of Delioswap.
Liquidity Mining Program (10,000,000 DSP)
10,000,000 DSP will be allocated to 4 pools as follows in 2 months as an initial liquidity mining program.
For each pool 2,500,000 DSP will be allocated to LPs proportional to liquidity, which roughly translates to:
- 41,667 DSP per pool per day
- 6.75 DSP per pool per block (14s blocktime)
The above DSP will not subject to vesting or lock-up.
With 15% of DSP tokens available to be airdrop and 2% of DSP tokens allocated to initial liquidity mining program, the community will retain 43% [215,000,000 DSP] of DSP for contributor grants, community initiatives, liquidity mining programs.
These DSP(43%) allocated to community will be vested according to the following schedule.
DSP allocations to team, investors, and advisors will have tokens locked up on an identical schedule.
Plan of DSP
DSP will be listed on DEXs (Decentralized Exchange) soon, like Delioswap and Uniswap and will be listed on several large CEXs (Centralized Exchange).
In the future, DSP will serve as a Key Currency in the virtual asset financial ecosystem linked to Delioswap, virtual asset banks, crypto lending, NFT Marketplace, Vault, and virtual asset management. Also, DSP can be used for a variety of purposes, such as obtaining DSP as interest or using DSP as collateral.