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SPIN token
All you need to know about SPIN token: use cases, issuance, token allocation and so on.
SPIN token is a Spin native utility token that ensures the sustainable development of the platform and also provides additional incentivization opportunities for the community.
SPIN use cases
Governance
SPIN token stakers can take an active part in the development of the project by voting, as well as making proposals for implementation. Similar to existing projects using this solution, such as MakerDAO, Compound etc. Governing elements can be voted on: the use of the insurance fund, the distribution of trading commissions etc. All incentivization and token sale programs e.g. staking, trading rewards, liquidity staking rewards, IDO, etc. will be subject to governance voting.
SPIN utility
- SPIN stakers get fee discounts on the platform
- SPIN stakers are allowed to trade with a larger leverage
- SPIN stakers can take part in the incentivization program. If users want to withdraw funds from staking, 14-day vesting is applicable.
Synthetic collateral
SPIN token holders will be able to use their token balance for trading as collateral. At the beginning of the period, only over-collateralized security will be allowed to guarantee invulnerability to the market manipulations and protection of user funds.
Incentive programs
On Spin, you can get SPIN for the following activities:
- Trader incentive and market maker incentive
- USDC staking
- Supplying liquidity for SPIN token AMM pools on DEXes
