🏛️TIG and Governance
Tigris (TIG) is the protocol token that can be staked to receive trading fees and to vote on governance proposals.
TIG stakers earn 70% of market orders trading fees and 63% of limit and stop orders trading fees. The other 7% is used to incentivize their executions and is paid to execution bots.
Profits from trading fees are paid out in real-time in TIGusd and tigETH and can be claimed through Tigris's website or by interacting with the staking contract directly. Stakers only earn the profits generated on the chain they are staking on.
TIG is an Omnichain Fungible Token and can be bridged between chains Tigris is deployed on thanks to LayerZero.
Staking grants Governance power but is also possible to lock TIG from 1 to 365 days to receive even more, calculated as:
amount + amount*duration/maxduration
Voting is currently done on Snapshot with on-chain governance coming in the future. Discussions around upcoming and existing proposals happen in the official Discord server in the Governance channel.
The DAO is governed by both Gov NFTs and TIG holders (1 NFT has the voting power of 1300 TIG).
Tokenomics
Tigris migrated from a Governance NFT model to a Token model. More details here. Previous Gov NFT owners can convert one NFT for 1300 TIG tokens.
TIG total supply is 2,000,000.
Distribution for the TGE (Token Generation Event) was:
| TIG tokens | % of total supply | |
|---|---|---|
Gov NFTs | 787,800 | 39.3% |
Public Sale | 400,000 | 20% |
Whitelist Sale | 300,000 | 15% |
Team | 218,300 | 10.915% |
Treasury | 193,900 | 9.695% |
Airdrops | 100,000 | 5% |
Total | 2,000,000 | 100% |
Out of 700,000 tokens available, the sales amounted to:
| Price | Sold | Unsold | Raised USDT | |
|---|---|---|---|---|
Whitelist Sale | 0.85 USDT | 269,672 | 30.328 | 229,221.2 |
Public Sale | 0.90 USDT | 99,321.83 | 300.678.17 | 89,389.64 |
Total | 368,993.83 | 331,006.17 | 318,610.84 |
Unsold tokens are currently in the Sale contract and will be sent to the Treasury.
102,948 TIG from the Treasury have been used for the first LP on Uniswap, paired with 100,000 USDT worth of ETH. The circulating supply can be checked on Dune.
Final TIG distribution:
| From Gov NFTs | From TGE | Total | % of circ supply | |
|---|---|---|---|---|
Investors | 520,000 | 368,993.83 | 888,993.83 | 44,45% |
Team | 141,700 | 218,300 | 360,000 | 18% |
Treasury | 126,100 | 524,906.17 | 651,006.17 | 32.55% |
Airdrops | 0 | 100,000 | 100,000 | 5% |
Vesting
Governance NFTs can be converted into TIG starting from July 1st. After the conversion they are linearly vested for 30 days.
Team tokens are linearly vested for 6 months starting from the TGE. They will be staked and used to vote on Governance proposals.
Treasury tokens are liquid and will be staked but not used to vote on Governance proposals.
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