The ENDR Token
Last updated
Last updated
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.
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 and END
ENDR has a maximum total supply of 3 billion.
The supply of ENDR is allocated as follows:
2,000,000,000 ENDR (66.67%) is allocated towards the Community through airdrops and emissions.
1,000,000,000 ENDR (33.33%) is allocated to the Contributors. Vested over 3 years, with a 1 year cliff.
We define only 2 categories of the allocation, because we believe that Contributors and Community are the sum of the whole.
Contributors are all those who actively contribute to the building and development of the Ender technology and application. This does not mean an internal team, but anyone who is building on top of our platform.
Community is also a broad categorization, which is made up of all of the active participants in the community which includes partners and any group in which can be attributed to the community. As such, we can direct the incentive emissions based on a set schedule to all of these groups via the governance process, streaming the incentives to these groups.
In essence, contributors can have a large impact on determining the community participants, while the overall community itself can as well. This creates a high level of decentralization which is based on two categories, the community and users, and the builders and contributors.
For the first 3 months before and after the launch of the governance and emissions system, users will earn points to be eligible to be airdropped the governance token upon the token distribution. During this period, 30% of the Community allocation will be airdropped to retroactive users of Ender Protocol plus other eligible users based on certain criteria.
The Airdrop Distribution will be as follows:
200,000,000
1
33.3%
6.67%
100,000,000
2
16.6%
3.33%
100,000,000
3
16.6%
3.33%
100,000,000
4
16.6%
3.33%
100,000,000
5
16.6%
3.33%
The first airdrop (Season 1) be 6.67% of the token supply. Afterwards, there will be 4 more airdrops over 5 seasons, every 6 months, over a total period of 24 months after the first airdrop, for 3.33% of the total supply each time.
In addition to the airdrop distribution, we shall introduce an emissions incentive program based on the following scheduled emission rate:
Weeks 1-13
0.8% of the remaining emission tokens per week
Weeks 14-26
0.7% of the remaining emission tokens per week
Weeks 27-39
0.6% of the remaining emission tokens per week
Weeks 40-52
0.5% of the remaining emission tokens per week
Year 1-2
0.4% of the remaining emission tokens per week
Year 2-3
0.3% of the remaining emission tokens per week
Year 3+
0.2% of the remaining emission tokens per week
