Governance Token Distribution Mechanism
An experimental approach using this mechanism will initially take place with 50% of all fees generated from the xHaven Marketplace to determine its feasibility for future community marketplaces utilizing the xHaven protocol.
Fees generated from community marketplaces utilizing the xHaven protocol will go back to XVN token holders via xHaven Foundation’s Governance Token Distribution Mechanism to active community members.
Those fees will be converted into the protocol’s governance token XVN and will be claimable by eligible wallets.
A snapshot will be taken at a randomly selected time each month to determine eligible wallets. To determine eligibility, the snapshot will take into account the number of XVN held in non-custodial wallets and/or used by non-custodial wallets in the rewards pool mechanisms, such as DeFi and governance protocols.
How this works in practice:
Random monthly snapshot taken of eligible XVN.
Monthly Marketplace fees determined.
Buyback & LP deductions taken from XVN Marketplace fees.
50% of all Marketplace fees to be gifted to xHaven Foundation for distribution to active community members.
Governance token distribution made claimable by xHaven Foundation for eligible wallets.
Eligible wallets have governance token distribution.
After each claiming period, any unclaimed XVN is burned ensuring active community members’ benefit.
The Governance Token Distribution Mechanism serves multiple objectives by:
Acknowledging past contributions from community members.
Encouraging ongoing positive involvement within the xHaven ecosystem.
Incentivizing and recognizing users who contributed to the generation of protocol fees.
Facilitating governance voting for active community members who prioritize the system’s best interests, thereby ensuring the sustainability of the decentralized protocol.
Eligibility criteria:
Hold XVN in non-custodial wallet and/or rewards pools mechanisms.
At the time of the random monthly snapshot.
Actively claim allocated XVN within 14 days of availability.
Last updated