QUARTZ

The QUARTZ Token is Sandclock's token. For the sake of completeness this page will list current and future utility.

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Reading about the DAO's Philosophy is heavily recommended.

Governance

Token holders participate in governance and have control over protocol parameters and $QUARTZ distribution.

For more details, check out Governance.

Fee Capture

Sandclock's metavaults charge a performance fee over the yield generated. The fee is owned by QUARTZ holders.

However, instead of using it for immediate value accrual, this capital is redeposited to the protocol as a SPONSOR and thus, the yield generated by this capital is used to boost all deposits, thereby creating a positive feedback loop, attracting more capital, and therefore, more fees.

In the future, if the DAO desires, a rageQuit() function can be implemented, where burning QUARTZ will withdraw a proportional amount of the treasury to the account owner.

Other value accrual mechanism will be also be considered, pending a DAO vote.

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