2Doge Token System
2DOGE is the algorithmic token that 2Doge Finance produces, which is pegged to 1 FTM through seigniorage. The token is designed to be used as a medium of exchange to support the network liquidity on Fantom.
2Doge Finance Shares (2SDOGE) closely represent the value of the 2Doge Finance Protocol and reliance of users in its systemic ability to uphold 2DOGE to peg.
- 2Doge Shares (2SDOGE): 2SDOGE holders have voting rights (governance) on proposals to improve the protocol and future use cases within the 2Doge finance ecosystem. 2SDOGE stakers also receive 2DOGE after each epoch expansion.
- In time of epoch expansions (when TWAP - time-weighted average price of 2DOGE is above the 1 $FTM peg), the protocol mints 2DOGE and distributes it equivalently to all 2SDOGE holders who have staked their tokens in the boardroom.
- 2SDOGE has a maximum total supply of 70000 tokens distributed as follows:
- 1.DAO Allocation: 5500 2SDOGE vested linearly 12 months
- 2.Team Allocation: 5000 2SDOGE vested linearly over 12 months
- 3.Remaining 59500 2SDOGE are allocated for incentivizing Liquidity Providers in two shares pools for 12 months
2Doge Bonds (2BDOGE) purpose is to help incentivize changes in 2DOGE supply during an epoch contraction period.
- 2Doge Bonds (2BDOGE): When the TWAP (Time Weighted Average Price) of 2BDOGE falls below 1 FTM, 2BDOGEs are issued and can be bought with 2DOGE at the current price. Exchanging 2DOGE for 2BDOGE burns 2DOGE tokens, helping to get the price back up to 1 FTM.