The token serves as the native currency in the protocol itself.
The token serves as the native currency in the protocol itself. Token/DeFi Economics. The mechanism is predicated upon a digital token called DMOD which is a cryptocurrency designed to provide traditional financial products and services without the centralized authority of banks and financial institutions. The token is distributed as a reward for contributions made to the platform and provides access to a variety of economic incentives. The token allows its holders to participate in decisions affecting the parameters of the system. The DMOD token will have an annual inflation rate based on the initial token supply post token sale, read the token economics section for more info.
It serves two key functions in Demodyfi Network:
Network Utility Token
DMOD is a native fee token (e.g. fee for native transactions and smart contracts), and also utilized in staking for collator, staking for oracle and other network activities.
Governance of the Network
As a governance token, DMOD tokens provide their holders voting right in Treasury governance, Council member election, referendum, network upgrade, risk management and more, e.g. adjustment of key risk parameters, such as Stability fee, Liquidation Ratio, and Collateral Type.
A fixed amount of DMOD (100,000,000) will be minted on genesis and distributed according to our token economic plan.