tSYMM and vtSYMM
The dual engines powering Symmetric v3 and governance
Last updated
The dual engines powering Symmetric v3 and governance
Last updated
tSYMM (Telos EVM Native Symmetric Governance Token) and vtSYMM (Vote-Escrow tSYMM) are the dual engines that drive the Symmetric economy. Together they secure the protocol, provide an avenue for all aspects of governance, and align the incentives and interests of Symmetric participants.
tSYMM is Symmetric’s governance token native to Telos EVM. This is not a bridged token, and it minted and distributed on Telos EVM only. It’s purpose is to align all actors in Symmetric DeFi. tSYMM has a max supply of 50 Million Tokens and a gradually decreasing emissions schedule set to run for approximately 40 years. Tokens will be distributed amongst key participants in Symmetric DeFi, including; Liquidity Providers, Community, Founders and Team, and Partners.
vtSYMM (vote escrow tSYMM) is Symmetric’s version of a vesting system meant to align long-term interests of all participants in Symmetric DeFi, especially token holders and liquidity providers. The CPT (Cent Pool Token) from the 80/20 SYMM TLOS pool can be locked in our voting escrow contract, which gives the token holder an amount of vtSYMM directly proportional to the time it is locked for (eg. x amount held over 6 months = 1vtSYMM. X amount held over 1 year = 2vtSYMM).
vtSYMM will act as Symmetric’s governance token, and will be used for voting on gauges which determine SYMM liquidity mining emissions. Additionally, vtSYMM holders earn a portion of Symmetric’s protocol fees, set by governance.
