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SolPAD’s ecosystem is powered by the PAD token that enables a number of unique mechanics and potent flows of monetizable utility to its holders and, most importantly, powers the SolPAD’s governance layer.
PAD is SolPad Utility Token. Run on Solana (SPL), and will be bridged to BSC and Ethereum in the future.
We will elaborate upon each of these dimensions below.
- Voting with the Token
- Governing with the Token: By using the DAO structure, PAD holders can use PAD to participate in Governance decisions of the platform, such as deciding pools ratio on upcoming IDO, or vote which IDO will be launch on SolPad
- Liquidity Mining
- Listing at SolPAD App wallet
- Airdrop to PAD holder users
- Staking to participate in SolPad IDO.
- Incentives/ Liquidity Rewards: will be used to reward those who provide Liquidity to our Farming platform
Liquidity mining as a phenomenon has given a significant impetus to the DeFi ecosystem back in the memorable ‘DeFi summer’ of 2020. The concept is simple: liquidity providers are rewarded with the protocol tokens to compensate for the risk of impermanent loss they are running, locking the system in the positive feedback loop: more liquidity, more traders, more fees, more valuable protocol token attracting yet another set of market makers, etc.
SolPAD encourages pool participation by allocating a portion of the outstand- ing PAD token supply to pool participants.