Initial Supply

Initial Supply

Initial Supply: 50,000,000 $WOOF

$WOOF/veWOOF Airdrop for Users

4% of the initial supply was distributed to regular users of existing Shibarium protocols, as well as those new to the chain through WoofSwap. Users has been chosen based on behaviors that promote long-term stability of said protocols, such as: locking, stacking, holding, participating in governance, and continuing to support despite the challenges faced.

$WOOF/veWOOF Airdrop for WOOF NFT Minters

48% of the initial supply was allocated to WOOFNFT minters and holder.

• 75% as $WOOF - WOOFNFT minters

• 25% as veWOOF locked for 2 years - WOOFNFT holder

Ecosystem Grant

16% of the initial supply was dedicated to a specific fund that will be used to support a wide range of projects that aim to accelerate the growth of WOOF. Shortlisted projects will receive significant backing from the core team (smart contract development, marketing, business development, etc.).

Team

32% of the initial supply has been distributed to the team to engage them in the long term success of WOOF. The team allocation is balanced between veWOOF and $WOOF vested tokens.

The core team members will have their interests align with WOOF by receiving a percentage of the initial supply in the form of voted escrow tokens. This allocation allow team members to participate in the upside of the protocol while having a long-term oriented position.

First, core team members will vote for core pair gauges at WOOF's inception in order to achieve the goal of deep liquidity and extremely low slippage for high volume pairs that are not backed by bribing entities. These will include $BONE, $ETH and $WOOF denominated pairs. Second, this initial allocation ensures that the core team has enough initial control over the protocol to achieve the original vision of WOOF. The fact that veWOOF mechanics include only a partial rebase capped at 30%, will ensure a dynamic supply distribution and balance the team's initial dominance.

To add an extra degree of protection and prevent team members from behaving maliciously, the initial veWOOF team allocation will be kept under WOOF’s multisig. Additionally, since the veWOOF holders are entitled to the protocol revenue through bribes and fees, we choose to balance the team allocation with vested $WOOF tokens. Thus, we encourage a fair distribution of revenue among the stakeholders.

Team allocation balance between $WOOFand veWOOF:

• 60% as veWOOF locked for 2 years

• 40% as $WOOF

Emissions

ve(3,3) Dynamics

The main stakeholders of a typical AMM (on Shibarium), including veWOOF holders, LPs, users, and protocols, are all aligned by the ve(3,3) dynamics that determine WOOF emissions.

veWOOF holders — are incentivized to vote either for the highest volume pools (because the greater the volume, the greater the amount of fees produced as a result), or the ones being bribed by protocols seeking to bootstrap their liquidity. This allows these protocols to create their own flywheel, if the token generates strong volume.

Liquidity Providers (LPs) — are incentivized with emissions driven by “Real Yield” based metrics.

Traders — benefit from the low slippage thanks to the liquidity provided, in concert with the latest and greatest battle-tested vAMM / sAMM tech.

Protocols — have access to a cooperation oriented liquidity layer. They benefit from capital efficient trading conditions for their tokens, and they can incentivize their liquidity via bribes offered to veWOOF holders.

Emissions specifications

• Weekly emissions (at inception): 2,600,000 $WOOF

• Weekly emissions decay: 1%

• Weekly developer wallet allocation: 2.5%