Saturn DAO governs the Saturn Protocol, an open exchange protocol for trading tokens. The goal of the DAO is to allow stakeholders who provide liquidity to the protocol and invest in its development to have direct control of the fee structure of the protocol, profit distribution, as well as development and marketing expenses.
Instead of relying on any given founder team to create the rules that will be relevant for all eternity, we see it as our job to properly parametrize all the incentives that a crypto trading business might have, and build a core that can be customized and governed by the stakeholders.
Over time, through trial and error and many rounds of community voting, the DAO will be able to adapt to ever changing market conditions and stay relevant and prosperous. Transparency at each step ensures the most efficient use of capital - truly showcasing that the DAO is the best form of running a profitable business.
Who are the DAO Stakeholders
Becoming eligible to become a DAO Stakeholder is very simple and anyone can do it. All you have to do is purchase and own some Saturn Tokens.
Once you have some Saturn Tokens in your wallet, there are two ways you can stake your tokens and become a stakeholder. The first way is to stake directly with the DAO smart contract. Once you do so, you become eligible for dividend payouts and can vote on the DAO's roadmap and fees. The second way is to stake Saturn Tokens with any other token (e.g. ETH, LINK, DAI) on the protocol's liquidity pools. In addition to the aforementioned benefits, you also earn realtime interest from every trade made that uses that other token, as well as higher dividends share and voting rights. The bonus for liquidity staking is embedded into the protocol to incentivize liquidity creation on the protocol. As we all know, higher liquidity means more trades and more profits for everyone. Detailed description of the liquidity pools and all other aspects of the DAO is available in the article linked below.
Of course, you can use a combination of both methods. For example, you can stake 40% of your SATURN on the ETH liquidity pool, 30% of your SATURN on the DAI liquidity pool, 10% of your SATURN directly with the DAO, and remaining 20% can be used to trade on exchanges or in other #DeFi protocols using SATURN20 Wrapper.
What do the stakeholders vote for
- Pool fees - the percentage of realtime fees that get allocated to liquidity providers.
- DAO fees - the percentage of fees that get allocated to the DAO wallet, and can later be used for hiring workers or for dividend payouts.
- Listing fees - optionally, the DAO can vote on the fee that needs to be paid by token communities to create a liquidity pool for them, a listing fee. This gets allocated to the DAO wallet
- Roadmap voting - the community can submit proposals on what they can do for the DAO and request funding, and DAO members can vote to approve or reject these proposals
- Dividend distribution - if there is money left in the DAO wallet and there are no worthy proposals, DAO members can vote to distribute this money to stakeholders as dividends
Future is bright!
New to Saturn Network?
Read more about Saturn Protocol V2 below, an upcoming major exchange protocol upgrade that will bring token to token pairs, automatic market making, DAO activation for community governance, dividends pay outs and much more!