MENSA Token Introduction
As the governance token of Mensa Protocol, MENSA will serve as the core utility token of the entire Mensa Protocol, including equity through the provision of protocol liquidity or protection agreements and management procedures, and reward users through depositing and borrowing assets to guide the fluidity of protocol.
As Mensa Protocol continues to innovate and develop in the DeFi field, MENSA token holders will be able to pledge MENSA tokens, or propose key protocol parameters for all Mensa series products, and make recommendations on how to interoperate products and make decisions, and various functions.
MENSA token will continue to be the main tool for adjusting incentives for community builders and supporters, and jointly help promote the development of MENSA ecosystem.
MENSA tokens are issued through a fair launch mechanism.
The maximum supply of MENSA tokens will be 200 million (200,000,000).
· 24% deposit & borrow pool rewards: Continuously issued to users who deposit & borrow from Mensa Protocol. 6% of the daily rewards are allocated to depositors, 18% to borrowers. The release will be completed in 4 years.
· 25% liquidity pools rewards: Continuously minted to liquidity providers of SpiritSwap USDC-MENSA trading pair and future liquidity pool. The release will be completed in 4 years.
· 20% early investors + consultants: Lock-up for 3 year.
· 25% team/development fund: Lock-up for 1 year, then continuously vested for the second year, the release will be completed in 3 years.
· 6% initial liquidity/marketing/bounties: Set aside for providing initial liquidity and other marketing/promotion needs which is locked in multi-signature address.
Since the launch of Mensa Protocol, MENSA began to be released according to FTM block. Each FTM block will produce MENSA tokens according to the changes in the market protocol, and will be allocated according to the proportion of deposits and borrowings in each market. The token distribution ratio will be dynamically adjusted according to market conditions in the future, and all output token rewards will be earned by Mensa protocol users.
“Short-term capital tax” Mechanism
Users have a 3-month lock-in period for mining rewards. Users can unlock in advance, but they must bear a “short-term capital tax” of 50% of the mining rewards when reaping the rewards. All taxes will be distributed to users whose MENSA token are still locked, as rewards for long-term currency holders.
After the normal 3-month lock-up period, users can get 100% mining rewards. The lock-up period will be recalculated each deposit & borrow or claim.
Telegram group: https://t.me/mensaproofficial