About the EFT Token
What is EFT?
Elastic Finance Token (EFT) will be the governance token for the Elastic Protocol ecosystem. Token holders will be able to vote on new vault strategies that can be added to the ecosystem and decide on which tokens are rebase-enabled and added to the Elastic Protocol's sub-vault strategies.
Also, EFT may allow holders to earn a variety of fees from the utility ecosystem it governs. Our ultimate goal is to evolve towards a decentralized autonomous community where token holders will guide protocol operations (in a decentralized and trust-minimized fashion). EFT as a governance token is key to this.
NOTE: Until EFT is officially launched, EEFI will serve as the de facto governance token of the protocol with updates to the protocol defined as ‘EEIPs’ (Elastic Ecosystem Improvement Proposals).
- Decide what rebasing tokens are whitelisted for automated Elastic Protocol-related sub-vault strategies
- Decide which non-rebasing tokens may be converted to rebasing tokens use in Elastic Protocol sub-vaults
- Decide what new non-rebasing sub-vaults are deployed
- Control treasury utilization and deployment
- Control which revenue and interest bearing assets are acquired for the treasury
- Holders may collect protocol fees (EEFI and other assets) from deployed sub-vaults
Total Supply: TBD (Potentially 10-100 Million)
EFT tokenomics: TBD, including total supply, emissions schedule, fee distribution, etc.
EFT will not be used for liquidity bootstrapping and will be distributed via airdrop in the future.
Holders of EEFI may be eligible to receive an EFT airdrop.