SEAM Token Structure

$SEAM is the utility, governance, and staking token which acts as the mechanism for decentralized governance over SeamDAO. The SEAM token adopts the Coin type developed by Aptos, using Aptos Move code. The SeamDAO will deploy the SEAM coin contract on November 30, 2022 with a max supply of 1,000,000,000 SEAM.

Protocol Revenue

A 0.3% transaction fee is charged on total deposit amount into a Seam Power Set. This acts as a way for the protocol to load up on coins to pay for gas fees from the strategy's transaction flow. Another 5% is charged on the profit a user earns from their Seam Power Set position.

Of the 5% management fee on each position, 20% gets sent to the SeamDAO treasury to be re-invested according to DAO decisions, and 80% is converted to SEAM/USDC LP and distributed to SEAM stakers.

Token Utility

Regarding future utility mechanisms, one idea is to create a proposal through the SeamDAO in order to launch an Incentivized Mining Program for users to compete for who can create the highest performing Power Set using Seam. Fund creators will receive SEAM token rewards for how they rank, and potentially also earn a higher percentage of protocol revenue. This only applies to non Principal Power Sets that are created and listed through a governance vote.

Seam Governance

The SeamDAO treasury is controlled by SEAM stakers.

Distribution: Team: 20% Ecosystem Incentives: 30% SeamDAO Treasury: 30% Initial Investors: 12% Strategic partnerships: 18% Advisors: 3% DAO incentives: 5%

veSEAM

veSEAM is a non-transferrable, non-tradeable token that acts as a voting power multiplier within the Seam Ecosystem. The veSEAM token can be acquired via staking SEAM Tokens. veSEAM serves the following purposes:

  • Directing 50% of all SEAM Token Emissions: veSEAM holders can vote on how 50% of SEAM emissions are distributed across Seam Sets.
  • Voting on Seam Improvement Proposals: veSEAM holders can use their veSEAM balance to vote on SIPs in order to participate in Seam Ecosystem Governance.

veSEAM acts as an indicator for tracking how long any given participant has been staking their SEAM tokens, the idea behind the veSEAM mechanism is to reward long-term participants. Acquiring veSEAM is as simple as staking SEAM and waiting. However, withdrawing any amount of your staked SEAM resets your accumulated veSEAM back to zero.

50,000,000 SEAM (5%) will be circulating initially since those SEAM Tokens are distributed through a fair launch during the liquidity bootstrapping phase for DAO incentives.