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The ENDR Token

ENDR is the governance token of Ender Protocol. It is distributed to users of the protocol for performing a variety of actions, and can be locked to participate in protocol governance.

Earning ENDR

ENDR is distributed to protocol users for performing a variety of actions. Some examples include:
  • Depositing to the Ender Bond
  • Staking END tokens
  • Setting a Bond Fee
  • Directing protocol liquidity via sEND tokens
  • LPing endETH with ETH, stETH, and END

ENDR Utility

ENDR is used within the protocol as a governance token.
  1. 1.
    ENDR is locked for up to 52 weeks in order to receive lock weight
  2. 2.
    Lock weight is used to vote for the distribution of ENDR emissions
  3. 3.
    Lock weight can be used to vote on protocol ownership actions
Other use cases may arise in the future, as a result of protocol ownership voting.

Total Supply and Allocation

ENDR has a maximum total supply of 3 billion. Tokens are not distributed at the time of the initial launch. Instead, the Ender Points system will be introduced in order for users to earn and get an airdrop distribution in a retroactive airdrop upon the governance token launch.
Once the governance system is introduced, emissions are directed by the Ender DAO and incentivize certain actions within Ender Protocol. Emissions can additionally be used to incentivize liquidity on liquidity pools.
The supply of ENDR is allocated as follows:
  • 1,000,000,000 ENDR (33.33%) are allocated towards the Community through airdrops, LBP, and emissions.
  • 1,000,000,000 ENDR (33.33%) are allocated to the Core Contributors with 3-year vesting.
  • 666,666,666.666667 ENDR (22.22%) will be held in the Ender DAO Treasury with 4-year vesting. Governance can vote where to allocate these funds, including to use for further emissions.
  • 300,000,000 ENDR (10%) is allocated to Early Supporters and Investors with 2-year vesting, who assisted in bootstrapping costs associated with the initial development or invested directly in the future development of the Ender Protocol.
  • 33,333,333.333333 ENDR (1.11%) is allocated to Advisors who work directly with the Ender DAO Council Members and Investors with 4 to 5-year vesting.
Genesis $ENDR Allocation
Genesis is the time and date at which the token emissions of ENDR start.

Airdrop Distribution

For the first 3 to 9 months before and after the launch of the governance and incentive system, users will earn points to be eligible to be airdropped the governance token upon the token distribution. During this period, 15% of the Community allocation will be airdropped to retroactive users of Ender Protocol plus other eligible users based on certain criteria.
The amount airdropped will be determined by the amount of participants and deposits we receive during this period, ensuring that long-term emissions are in balance with the airdropped distribution. Any remaining amount of the airdrop will be further distributed in future airdrops.
The first airdrop distribution will occur after 3 months. Afterwards, there will be multiple more airdrops spanning the period of the next 6 months, over a total period of 9 months. Further airdrops beyond that are possible, with additional allocations made beyond the initial allocation.

Incentive Distribution Schedule

In addition to the airdrop distribution, once the governance system and liquidity mining program and emissions voting is live, new protocol incentives are allocated weekly according to the emission voting results. The total amount to be released each week follows a set schedule:
During the first four weeks, all earned ENDR is locked for 26 weeks upon claiming. The goal is to reward early users and encourage a healthy amount of lock weight to participate in protocol governance.
The amount of weekly emissions is calculated as a percentage of the remaining unallocated ENDR supply from the Community allocation after the LBP and airdrop distribution. The percentage released each week is as follows:
Time
Emissions
LBP (4 weeks)
5% of total supply
Airdrop (3 months to 9 months)
15% of the Community allocation
Weeks 1-13
1.2% of the remaining emission tokens per week
Weeks 14-26
1% the remaining emission tokens per week
Weeks 27-39
0.9% the remaining emission tokens per week
Weeks 40-52
0.8% the remaining emission tokens per week
Year 1-2
0.7% the remaining emission tokens per week
Year 2-3
0.6% the remaining emission tokens per week
Year 3+
0.5% the remaining emission tokens per week
Note that because of how the Ender boost system works, the numbers quoted above are the maximum amount claimable in that week; the actual claims will be somewhere between 50-100% of these numbers, and anything unclaimed due to this is returned to the unallocated supply.
Earned ENDR continues to be locked upon claiming for the first year after emissions launch. The number of weeks of the lock decreases by one every 2 weeks, eventually reaching 0 slightly after 1 year from launch. It is possible to exit a locked position early by paying a withdrawal fee (see Withdrawing early from Locked Positions).
According to this schedule, up to 41.20% of the total supply will be released within the first year. The actual amount will likely be less, due to claims made without maximum boost.
Core contributors' ENDR allocations will have tokens vested for 3 years. Ender DAOs' Treasury allocation will be vested for 4 years. Early Supporters and Backers allocation will also be vested for 2 years. These allocations will be vested with the addition of a 6 month cliff for transfers. Advisors' ENDR allocation will vest over 48 to 60 months with a 6 to 12 month cliff.
$ENDR 4-Year Release Schedule