The Time token shows your reputation based on how much time you gave DEUS by providing liquidity in the Vaults. As Deus ecosystem is about to enter it's most critical phase of launching the first decentralised synthetic exchange, we have to make sure we do everything in an extremely cautious manner to protect the safety of the entire project.
With that in mind, we will enter an early launch phase where the participation in the Synchronizer exchange is limited to Time token holders only.
How to get Time tokens?
Users receive Time tokens for locking up their DEUS, DEA, or LP tokens in the Deus Vaults. A person locking up liquidity on day one of the Trading Season will not receive the same amount of Time tokens as a person locking on day 30 and so forth.
How are Time Tokens calculated?
Time tokens are calculated based on the dollar value deposited and the time at which a person deposit. The formula is (Day locked / 180) , Day locked = 180 on day one and 1 is subtracted for each day. Example: $1 on Day 1 = 1 token and $1 on Day 180 ~ .0055 tokens
- Time tokens have no value
- Time tokens are not transferable
Why do I need Time token?
To avoid the exploitation of the system at it's most crucial stage, we will launch the exchange with an overcollateralized (OC) model. OC is a system where the value of your collateral exceeds the value of the potential losses on your investments. This means that there will be enough funds in the system in case of a default.Avoiding the abuse of the system is of utmost importance at the early stages of a project. Many projects failed because of being exploited early on.That is why we have to limit the participation in the Deus synthetic asset exchange to people who hold collateral in the ecosystem.
Holding Time tokens is immutable proof of a person's collateral in the Deus Ecosystem.
- In phase one, users will be able to buy up to 3% of your Time token holdings.
- In phase two, users will be able to buy up to 10% of your Time token holdings.
- In phase three, the requirement for holding Time tokens will be removed and everyone will be able to trade freely.
Other benefits to Time token holders:
- Time tokens may be staked to earn DEA.
- Addresses with Time tokens will be able to receive airdrop NFT's & participate in wIPO's earlier.
- A voting system is also being developed where a user or the developers can submit a proposal or wIPO/wStock to be listed and have the community vote with Time tokens.