Tokenomics & Governance

What is $WAGYU?

$WAGYU, otherwise known as WAGYU, is the native governance token of the Wagyu DAO. By holding this token and staking as part of our governance mechanisms (are we doing this?), users can directly take part in the decision-making process. (are we creating a voting mechanism) To get your hands on the token, head to one of the many liquidity pools or exchanges on the Binance Smart Chain such as 1inch or PancakeSwap.

Inbuilt within the tokenomics of the platform are mechanisms to bring its deflationary nature. This rewards early supporters and has the aim of creating highly incentivized token holders to contribute to the project. After an initial distribution period of around two months (what's our initial distribution), 21,000,000 tokens were supplied to the community with 4,200,000 (4:20 BITCHES!) locked for the founding team.

Token holders must hold $WAGYU and hold at least one $BIFI (should we change this to mooTokens or should we keep it niche asf?) to have a right to create and vote on proposals to the platform as part of its governance system. Tokens can be staked in the governance pool to gain rewards also in BIFI(?). A portion of the fees paid by our yield farming vault users is then distributed to holders of the $WAGYU token staked in the pool.

Users do not need to un-stake their tokens to participate in the voting process. This incentivizes much more voter participation as it means users don’t need to default their rewards to vote.

WAGYU can also be staked in the WAGYU max vault, which pays out rewards in $BIFI. wBNB from vault fees are used to purchase $WAGYU which will then be used to purchase more $BIFI from the open market as the token is non-inflationary and will no longer mint any more tokens. These purchased tokens are then distributed to anyone who has staked in the BIFI max vault.

How is the protocol revenue distributed?

All revenue generated on the platform from vault fees is sent to and handled by the ThunderCow Reward Vault smart contract in form of wBNB. Anyone who stakes their $WAGYU in either the RewardPool or WAGYU Maxi vault receives their proportionate share.

What’s the WAGYU Maxi vault?

The WAGYU Maxi vault allows users to stake their $WAGYU much like in the RewardPool, but receive instead their rewards in $BIFI. By staking their $WAGYU, each participant converts and compounds their share of the protocol’s revenue into more BIFI tokens. As no more WAGYU or BIFI tokens are to be minted, these are provided to stakers by buying BIFI from the open market with WAGYU.

This Vault is for users that want to convert and compound their share of the protocol's revenue in more BIFI tokens. As BIFI has no inflation, the strategy market buys BIFI with WAGYU rewards.

Where can I buy $WAGYU?

$WAGYU can currently be found in several decentralized exchanges including 1inch and PancakeSwap. Buying $WAGYU usually involves exchanging it for another crypto-coin or token through a liquidity pool.

How do I take part in governance?

By simply holding $WAGYU and at least one BIFI, even if staked in the governance pool or WAGYU Maxi vault, a user earns the right to create proposals and vote in them. Voting sway and power are derived from the $WAGYU holdings of the participant. The reasoning behind this follows that those holding more $WAGYU are more invested in the project, and therefore have a larger incentive for the platform itself to succeed and prosper. You can see proposals and vote on them yourself by heading to vote.wagyu.studio

ARE WE DOING VOTING?

How do I vote?

Voting requires you to hold $WAGYU and $BIFI, (remember this sub-DAO is specifically built for BIFI maximalists) which can either simply be held in your wallet or staked in the governance pool or WAGYU Maxi vault. You do not need to remove your stake either to vote. Voting power is based directly on the amount of $WAGYU and $BIFI each voter holds.

How do I create a proposal?

Proposals can be created by anyone, regardless of if they are a $WAGYU holder or not. Simply visit https://vote.wagyu.studio/vote/#/ and click New Proposal.

Each proposal is made up of a question to pose to the community, along with the option of choices that others can vote on in response to your question. Simply set a start and end date for your proposal and publish it.