Utility
The $QUARTZ token is Sandclock's token. For the sake of completeness this page will list current and future utility.
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 mechanisms will also be considered, pending a DAO vote.
Insurance Claim
(soon™)
Lindy Labs is setting up a captive insurance fund. However, as all things TradFi, this is a laborious process and the ETA is hard to estimate. Staking QUARTZ and proving your uniqueness will allow you to tap into this insurance.
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