TYPH Token Functions
Typhoon launches with the TYPH token, our approach to establish longterm sustainability of the service.
The token will be used for additional features to enhance the Typhoon experience for power users and unlock extras that make using the service more convenient.
The token has the following, but not limited to, use-cases:
1. Governance - We want Typhoon to evolve over time and adapt to user needs. To achieve this, the token will be used to draft proposals and vote on how the service should change. The direction of the product will be driven by the community.
2. Fee Claim - Typhoon charges a 0.1% fee on withdrawal. Token holders will be able to claim a share of those fees proportional to the amount of tokens they use to interact with the service for staking and governance votings.
3. Increasing Anonymity - The token is to be used as rewards for users providing funds to the Typhoon contracts. Provided funds actively help with increasing the anonymity set and securing the usage of other users. To encourage this, TYPH will be attributed to those users.
4. Fee Reduction - The token will be used to reduce occurring fees when interacting with the Typhoon smart contracts and provided services.
5. Relayer Participation - To get included as community relayer on the main site, it is required to hold a certain amount of TYPH tokens to qualify.
6. Power user features - The token will be used to unlock additional features on Typhoon itself that make frequent usage easier, such as automating deposits/withdrawals, automatically splitting bigger amounts across pools and more.
To have a constant value and market attached to the token, a regular buyback is to be implemented on-top of the proposed fee-share model. Part of the accumulated fees and locked-up funds are to be used to purchase TYPH back from exchanges and AMMs, putting them back into the distribution pool and completing the token cycle.
An automatic token burn is being considered but not finalized and hence excluded
Last modified 1yr ago