The Fountain Protocol native and governance tokens
The FTP token is the native token of the Fountain Protocol and oversees the entire ecosystem of the Fountain Protocol including future iterations of the protocol.
This is the contract address of the protocol: 0xd1dF9CE4b6159441D18BD6887dbd7320a8D52a05
FTP is required to vote and decide on the outcome of proposals through Fountain Improvement Proposals. The protocol will initially be governed by the founding team, and will eventually transition to a Decentralized Autonomous Organization (DAO).
As part of the DAO, holders of the FTP token will be able to initiate proposals and vote on issues that will steer the direction of the protocol.
Examples of parameters that could be voted on:
- Update the interest rate model per market
- Withdraw the reserve of a fToken and the addition of assets that meet the risk requirements of the protocol
- Risk parameters for overcollateralization and liquidation
- Changes to the Liquidity Mining to adjust incentives depending on market conditions
The total supply of FTP will be 10,000,000,000 tokens. The token distribution is designed to ensure that market participants who actively engage with the platform will receive FTP tokens. The majority of the tokens will be distributed through the Liquidity Mining.
Liquidity Mining - No lock-up
Investors - Lock for 6 months, and then monthly vesting for 12 months
Team & Advisors - Lock for 6 months, and then mthly vesting for 48 months
Marketing & Reserve - Vested based on demand