🪙$Steak Token

$STEAK

The $STEAK token serves as both the governance and incentivization mechanism for the Shiba Steak protocol. Currently an ERC-20 token, the protocol has plans to migrate to the Shibarium network once it is live. Within the ecosystem, $STEAK token plays a critical role in enabling governance activities and incentivizing participation from users. It is designed to empower community members to have a say in the decision-making process and reward them for contributing to the growth and development of the protocol.

Governance

To ensure the long-term success and security of the Shiba Steak protocol, active participation from $STEAK holders is encouraged in its governance.

This allows community members to have a voice in the decision-making process and helps to ensure that the protocol operates in a manner that aligns with the interests of its stakeholders. By participating in governance activities, $STEAK holders can contribute to the protocol's growth and development, which ultimately benefits the entire ecosystem.

Incentivization

The Shiba Steak protocol plans to utilize the $STEAK token to incentivize core contributors and promote the long-term success of the ecosystem. At the same time, $STEAK will also serve as a dis-incentivization mechanism, in cases where stakeholders who are staking the token act maliciously or fail to fulfill their duties appropriately. This approach aims to ensure that the protocol operates in a secure and efficient manner, and that stakeholders are incentivized to act in the best interests of the ecosystem as a whole.

Organizing your Projects

STEAK has a Total Genesis Supply of 100,000,000 on the Ethereum network, but the distribution model will differ once the protocol is migrated to the Shibarium network. The new distribution plan will focus on maximizing decentralization of governance for the protocol while also providing sufficient incentives for core contributors to ensure its long-term growth. The goal of this approach is to create a balanced and sustainable ecosystem that empowers stakeholders to participate in governance activities and incentivizes them to contribute to the development of the protocol.