Utility
Last updated
Last updated
Interest Protocol is MoveVM agnostic dApp, we provide secure DeFi in multiple chains. However, we do not believe in a shared/single governance coin. We want to silo the governance of each dApp by issuing one coin per chain. This guarantees that each token will reflect the performance of the dApp it is associated with. E.g. dApp on Sui will mint IPS (Interest Protocol Sui), while the dApp on Movement will mint IPM (Interest Protocol Movement).
IP holders have the full control of the issuance of the Coin. They decide on the minting rate per pool. This is done by locking up IP into veIP. At the time of lockup the holder allocates his/her voting power to a specific pool. The minting rate per pool is propertial to how much voting power they hold. It is imporant to note that voting power decays linearly over time and is valued at zero at the unlock day. This motivates project owners to accumulate voting power by buying IP Coins or bribing IP holders creating a sub economy around. In order to maintain the value of IP, 100% of the protocol fees are directed to the team. A percentage to burn IPCoin and the remaining to cover the team expenses.
