QUARTZ
The QUARTZ Token is Sandclock's token. For the sake of completeness this page will list current and future utility.
Last updated
The QUARTZ Token is Sandclock's token. For the sake of completeness this page will list current and future utility.
Last updated
Reading about the DAO's Philosophy is heavily recommended.
Token holders participate in governance and have control over protocol parameters and $QUARTZ distribution.
For more details, check out Governance.
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.
