IPISTR Token

What is IPISTR

IPISTR is a utility token that aligns ecosystem stakeholders and incentivizes the expansion of the ecosystem, allowing the user to access unique functionalities and determine what token pools are listed, what features are to be applied, and what modules are available in the main GUI.

IPISTR token holders have privileges to discuss the proposals, inquire about liquidity issues, investigate positions and vote on system upgrades and other rectifications. Core protocol contributors will guide critical decisions that are advantageous to enhance Shorter Finance.

For smart contract address of IPISTR, head over to the article smart contracts .

Economic Mechanisms

Mining

As with most DeFi things, the number of IPISTR used for supplying rewards is determined by the formulation listing below. Take this assumption first, the total balance and USD value of the pool supplied by the stakers are labeled as δ\delta and ζ\zeta on pool no. ii, yet the current interacted indicator is XX. IPISTR base reward produced per block is a constant ϕ\phi. After, we henceforth take ω[11,848]\omega \in [11,848] as a weight factor calibrated by token rating (e.g., AAA, BB, and C) and allocation strategies for the sake of risk amongst diversified tokens.

BaseReward=SupplyBalanceδX×ζXωXi=1n(ζiωi)×NBlocks×TokenPriceϕ(1) Base \ Reward = \frac{Supply\ Balance}{ \delta_{X} } \times \frac{ \zeta_{X} \cdot \omega_{X} }{ \sum_{i=1}^{n}( \zeta_{i} \cdot \omega_{i} ) } \times N_{Blocks} \times Token \ Price \cdot \phi \tag 1
AdditionalReward=SupplyBalanceδX×(TradingFee+FundingFee)×40%(2) Additional \ Reward = \frac{Supply\ Balance}{ \delta_{X} } \times (Trading \ Fee + Funding \ Fee) \times 40\% \tag 2

Burning

The burning of tokens refers to permanently removing IPISTR tokens from circulation. It is this property that the Shorter DAO comprises rulers tend to burn IPISTR based on some digitals(i.e., total trading volume and protocol revenue of the previous period). The rulers hold the handle deciding when to make it happen or how much the tokens need to be depleted.

There are 2 sorts of burning proposal:

  • Shash for redundant circulation
  • Sax for IHBPS

In the coming months, new proposals on IPISTR burning will be put forward weekly on Snapshot (opens new window) for voting.

Buyback

To tame the direct sell-off impacts on markets, orderly IPISTR buyback programs would be carried out in batches as the evolving process of Shorter. There is undoubtedly an upper cap on the number of IPISTR tokens that buy back at a time, and there are intervals between buybacks. The upper cap of a single buyback and the frequency of buyback is dynamically adjusted according to the current market liquidity. Specifically, the entire IPISTR buyback process is open, transparent, and verifiable on the corresponding blockchain Shorter deployed.

Token Allocations

IPISTR’s token distribution is broken down as follows:

Beneficiary Amount
Seed Investor 150,000,000
Angel Investors - SAFT 2021 400,000,000
Potential Future Fundraising 2,000,000,000
IPI Labs 100,000,000
Ecosystem Fund 80,000,000
Retroactive Public Goods Funding 50,000,000
Protocol Users Obtaining in the Further 85% Remaining

IPISTR total supply hard cap: 18,533,333,333