WAV is our Native Token, on Binance Smart Chain.
TGW is our Governance Vault, consisting of staked WVP.
The locked TGW governs the DAO, and also earns DAO revenue and emissions, which will be automatically compounded in the Vault.
Withdrawing from the Governance Vault incurs a withdrawal fee, which is shared among the remaining TGW holders.
- TGW withdrawal fee is set at 88%.
~ Withdrawal fee was initially planned to be reduced to 18% after 12 months. There will be a governance vote to decide on changes to the withdrawal fee.
3000 WAV per day will be emitted, reducing by 16.88% every 88 days to give a maximum supply of 1,979,869 WAV.
- 80% to TGW
- 10% to Treasury
- 10% to Farms
~ Initial emission distributions were 60% TGW, 10% Treasury, 30% Farms but change was voted on 6th June 2022 by the DAO for more weightage to be put towards TGW vault.
WAV Token Emission
- $280,000 WVP was staked into TGW and given to the Founding Team. (TBC)
- $378,000 WVP was staked into TGW and given to the Treasury. (TBC)
- $42,000 WVP was given to the Treasury. (TBC)
Effectively 94% of WAV and WVP was locked into TGW which has a 88% withdrawal fee for the first 6 months of the project, reducing to 18% in months 6-12.
Unlike in ACryptoS, TGW is transferable, and Farm boost will be calculated using a time-weighted average of users’ TGW holdings, including TGW staked in NFTs.
The amount of boost is determined using the same formula as in ACryptoS:
1.5 * [% user's share of Governance Vault] * [TVL in Farm]
(up to a maximum of 2.5X of users’ holdings in Farm)
TGW NFTs will be able to have TGW staked inside each NFT, which can be unstaked by burning the NFT, setting a base value for each NFT. TGW staked in users’ NFTs boost their Farm returns by up to 2.5 times.
Liquidity is built into the Governance Vault, so there is no longer a need to separately incentivise liquidity.
It also means Governance Vault holders are expected to take on Impermanent Loss risk.
The TGW withdrawal fee acts as a lock-in for the Founding Team and early investors.