Tokens
THRIVE
Note that THRIVE actively pegs via the algorithm, it does not mean it will be valued at 1 THRIVE : 1 GMX at all times as it is not collaterized . THRIVE is not to be confused for a crypto or fiat-backed stablecoin.
THRIVE token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain THRIVE's peg of 1 THRIVE = 1 GMX in the long run.
$POWDER- Thrive Shares
Thrive Shares (POWDER) are one of the ways to measure the value of the Snow Thrive Protocol and shareholder trust in its ability to maintain THRIVE close to peg. During epoch expansions the protocol mints THRIVE and distributes it proportionally to all POWDER holders who have staked their tokens in the Half Pipe.
POWDER holders have voting rights (governance) on proposals to improve the protocol and future use cases within the THRIVE money ecosystem.
POWDER has a maximum total supply of 50101 tokens distributed as follows:
Treasury Allocation: 5000 POWDER vested linearly 12 months
Team Allocation: 5000 POWDER vested linearly over 12 months
Digits Dao Allocation: 5000 POWDER vested linearly over 12 months
Rewards: 35000 POWDER are allocated for incentivizing Liquidity Providers in two shares pools for 12 months
Initial mint: 101 POWDER minted upon contract creation for initial pool, 100 POWDER is reserved for the DIGITS genesis pool.
$STBOND - Snow Thrive Bonds
Snow Thrive Bonds (STBOND) main job is to help incentivize changes in THRIVE supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of THRIVE falls below 1 THRIVE:1 GMX ,STBONDs are issued and can be bought with THRIVE at the current price. Exchanging THRIVE for STBOND burns THRIVE tokens, taking them out of circulation (deflation) and helping to get the price back up to peg. These STBOND can be redeemed for THRIVE when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for THRIVE when it is above peg, helping to push it back toward 1 THRIVE to 1 GMX ratio.
Contrary to early algorithmic protocols, STBONDs do not have expiration dates.
All holders are able to redeem their STBOND for THRIVE tokens as long as the Treasury has a positive THRIVE balance, which typically happens when the protocol is in epoch expansion periods.
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