🪙Tokenomics

DOV will be the official token of DoveSwap. The main utility of DOV will be in governance. For example, DOV holders will have the ability to turn on fees, or to choose to enact a deflationary model for the token once fees are turned on. Once minted, DOV token's address will be listed here.

Benefits

Once the community takes over the governance role, DOV holders will have ownership over:

• DOV governance

• DOV community Treasury

• The protocol fee switch

Distribution

100 million DOV will be minted at genesis and will become accessible over the course of 3 years.

The initial 3 year allocation will be as follows:

• 60% to DoveSwap community members via the treasury, liquidity mining incentives, historical liquidity provision etc

• 25% to team members and future employees (team allocation is vested over 3 years, with a 6 month cliff)

• 15% to investors

A perpetual inflation rate of 2% per year will start after 3 years, ensuring continued participation and contribution to DoveSwap

Early Adopter Benefits

To rewards historical liquidity providers and early supporters, DoveSwap will be rewarding them with 20% of the circulating supply of DOV over 3 snapshots.

Early adopter rewards will be split into 3 snapshots in order to allow broader community management and engagement while also favoring the earliest adopters in terms of rewards. Each snapshot is planned to release 15-20% of the circulating supply of DOV at that point in time

Snapshots will be posted to the Twitter and updated here as the program runs.

Liquidity Mining Incentives

The currently incentivized pools are WETH/DOV, WETH/USDC, USDC/USDT, WETH/MATIC. Pool incentives are currently being finetuned before long term rewards programs (>1 month) will be in place.

Buy and Burn Mechanism

Fees from swap volume will be used to buy and burn DOV from the WETH/DOV pool. This will provide long term buy pressure for the token as well as reward long term token holders. The burned tokens will be sent to the null address . 75% of the swap fees will be used to supply the buy and burn mechanism, with the team getting a portion of protocol revenue proportionate to their token ownership share (25%). For the first phase, the team will be donating their share of protocol revenue to further support the buy and burn mechanism.