Tokens
Our model is based on three tokens. The first two (SCEPTER and BATON) are meant for investors, while the third (WAND) will be for the protocol’s use only.
SCEPTER is a token 100% backed by stablecoins. The SCEPTER treasury value (which increases progressively) divided by the number of SCEPTER tokens determines its backing. The protocol will always buy it slightly below backing, and sell it slightly above backing. This promotes a continuous growth of the backing per token, benefitting the holders.
BATON is earned by burning SCEPTER. Like SCEPTER, its treasury is meant to grow continuously thanks to our investments and the inflow coming from the burning of SCEPTER. The larger the treasury, the bigger the weekly airdrops for BATON holders. BATON holders receive weekly USDC airdrops which are automatically distributed through our smart contracts.
WAND is the unstaked version of SCEPTER and there are always as many WAND as SCEPTER tokens. WAND are only used by the protocol as collateral to increase the treasury.
Last modified 10mo ago