TROVE is the governance token for the Arbitrove Protocol, a yield-bearing index and strategy vault protocol natively built on the Arbitrum network. ALP, the first index of the Arbitrove protocol, is a basket of selected blue-chip tokens such as GMX, MAGIC and GRAIL, deployed with various strategies to generate yield for our users. In the future, additional indices will be added, including ecosystem-specific indices like the GMX Ecosystem Index, GameFi Index, and strategy-specific indices, like the Ethereum Liquid Staking Derivative (LSD) strategy index.
70% of the total TROVE supply that would ever exist will initially be in the form of Escrowed TROVE (esTROVE). esTROVE is a non-transferable token that can be staked for protocol revenue sharing if the DAO votes for the TROVE staking proposal, which is expected to be submitted in early March. It can also be vested to become TROVE through a 1-year linear vesting starting in September 2023. However, esTROVE being vested is not eligible for staking or fee sharing.
Our tokenomics is inspired by GMX’s successful es-model, aimed at ensuring the long-term success of the protocol, while allowing supporters to benefit from real yields through protocol fees. The team’s token allocation will also be in the form of esTROVE, aligning the team’s incentives with those of our users and passport holders.
Amount of tokens: 1,000,000,000 tokens in total
- 220 million TROVE/esTROVE will be allocated for incentivizing users of our indices, stakers, and liquidity providers. The tokens will be released gradually over the next 8 years.
- 10 million TROVE will be airdropped to xGRAIL holders.
- 90 million TROVE will be reserved by the Arbitrove treasury, with 60 million TROVE used for protocol-owned liquidity.
- 200 million TROVE will be reserved for the fair launch on Camelot.
- 330 million esTROVE will be airdropped to Nitro Cartel Passport holders. esTROVE will be non-transferable but stakable for 6 months. After that, holders will have the option to continue staking or to vest their tokens linearly for 1 year into TROVE.
- 150 million esTROVE will be distributed to current and future team members and contributors. These esTROVE tokens will also be non-transferable but stakable for 6 months. After that, holders will have the option to continue staking or to vest their tokens linearly for 1 year into TROVE.
Starting in September, users will have the option to vest their esTROVE into TROVE instead of staking. The linear vesting period will last 1 year. All esTROVE tokens will be immediately stakable.