SHO
Shogun Token
SHO Token
The Shogun Token (SHO) is Shogun Protocol's native token. SHO tokens can be deposited to create new governance polls, which can be voted on by users that have vxSHO.
SHO is designed to capture a portion of Shogun Protocol's yield, allowing its value to scale linearly with Shogun's assets under management (AUM). Shogun distributes protocol fees to SHO stakers pro-rata to their stake, benefitting stakers as the adoption of Shogun increases. xSHO stakers are incentivized to propose, discuss, and vote for proposals that further benefit the protocol.
SHO tokens are also used as incentives to bootstrap necessary liquidity and initial AUM for the protocol to gain momentum, which will ultimately enhance SHO token's value accrual.
Value Accrual
SHO tokens generate a buying pressure that increases proportionally with SHO's AUM. 75% of the vMESH yield is used to purchase SHO tokens from the market, which are then distributed as rewards to shoMESH stakers, SHO stakers, and Shogun Protocol's treasury.
shoMESH Stakers
25% of the value generated from vMESH yield is distributed to shoMESH stakers, in addition to 100% of the MESH rewards generated from MESH staking.
SHO stakers (xSHO holders)
SHO captures protocol fees generated from Shogun Protocol, where 15% of the value generated from vMESH yield is used for the value accrual of SHO stakers.
Shogun Treasury
60% of the value generated from vMESH yield is contributed to Shogun Treasury in the form of SHO/USDC MESHSwap LP tokens. 30% of the yield is bought back into SHO and paired with the rest of the yield to mint new LP tokens.
Governance Fees
SHO token deposits of Shogun governance polls that have failed to reach the required quorum are redistributed to SHO stakers (xSHO holders) as staking rewards.
SHO Token Distribution
A total of 100,000,000 SHO tokens will be minted and distributed in accordance with the following distribution schedule :
| Amount | % Allocation | Peroid | |
|---|---|---|---|
Shogun Mint | 6,500,000 | 6.5% | TGE |
Lockdrop | 2,500,000 | 2.5% | TGE (Linearly vested for 6 months) |
Liquidity | 2,000,000 | 2% | TGE |
MESHSwap Drops, Airdrop | 250,000 | 0.25% | TGE~TGE+3 months |
SHO-USDC LP Incentives | 10,500,000 | 10.5% | 2 years |
shoMESH-MESH LP Incentives | 7,000,000 | 7% | 2 years |
shoMESH Farm | 10,000,000 | 10% | 1.5 years |
Core Contributors and Service Providers | 15,000,000 | 15% | 1 year |
Strategic Partners, Advisors, Contributors and Collaborator | 9,000,000 | 9% | 1.5 years |
Airdrop to early adopters | 500,000 | 0.5% | TGE ~ TGE +3 months |
Sigma Incentives | 5,500,000 | 5.5% | 2 year |
Future Multi-chain Incentive | 1,000,000 | 1% | 1 year |
Protocol Treasury | 30,250,000 | 30.25% | - |
Total | 100,000,000 | 100% | - |
Genesis Token Distribution
A total of 40,000,000 SHO tokens are released at the genesis of Shogun Protocol. The initial distribution of SHO is given to:
Shogun Mint Participants : 6,500,000 SHO tokens will be released fully at genesis
Liquidity : 500,000 SHO tokens will be used to provide initial liquidity for SHO-USDC LP
MESHSwap Drops & Airdrop : 250,000 SHO tokens will be claimable at genesis
Airdrop to early adopters : 500,000 SHO tokens will be airdropped for people who wanted to start journey with Shogun from the very first moment.
Protocol Treasury : 30,250,000 SHO tokens will be contributed to Shogun Protocol Treasury, which is a smart contract owned by Shogun Governance, controlled by vxSHO holders.
SHO Incentive Programs
A total of 35,500,000 SHO token will be used as part of incentive program to bootstrap Shogun Protocol.
Lockdrop : 2,500,000 SHO tokens will be used to bootstrap initial shoMESH-MESH liquidity which is a vital part of the protocol as it provides liquidity to shoMESH holders whilst benefiting from boosted yields.
SHO-USDC LP Incentives : 10,500,000 SHO tokens will be used over 2 years to incentivize users to provide liquidity towards SHO-USDC LP. In order to minimize selling pressure of SHO incentives, users may receive boosted incentives by holding vxSHO
shoMESH-MESH LP Incentives : 7,000,000 SHO tokens will be used over 2 years to incentivize users to provide liquidity towards shoMESH-MESH LP. In order to minimize selling pressure of SHO incentives, users may receive boosted incentives by holding vxSHO
shoMESH Farm : 10,000,000 SHO tokens will be used over 1.5 year to incentivize users to mint shoMESH. In order to minimize selling pressure of SHO incentives, users may receive boosted incentives by holding vxSHO.
Sigma Incentives : 5,500,000 SHO tokens will be used over 1 year to incentivize movement of Sigma protocol's liquidity to Shogun. Sigma protocol is original project on Klaytn which is operated by same team as Shogun.
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