Introducing SBR — the Saber Protocol Token
On June 1, Saber (initially StableSwap) launched on Solana’s Mainnet Beta network. As Solana’s first automated market maker (AMM) optimized for trading pegged assets, the Saber Protocol has seen significant growth in just the past month:
- Over $5M+ in liquidity across pools
- Launch of Solana’s first BTC stable pool
- Launch of Solana’s first trading pools for UST, LUNA, DAI, BUSD, and more
Since inception, Saber’s mission has been to connect the world’s assets through providing a networked liquidity foundation. Because assets from one blockchain can’t natively exist on another, stablecoins are an elegant way to trade into and out of tokens on disparate blockchains and exchange value across the ecosystem. Due to its speed and scalability, Solana is the ideal blockchain to serve as the settlement layer for Saber’s liquidity network.
The future of finance has no borders. We believe that finance should be permissionless, and every asset in the world will eventually find its way onto the decentralized web.
As a result, we have decided that it is best to decentralize the protocol early on so that the community can help decide its course.
We’re excited to introduce the Saber Protocol Token (SBR), a governance token that has two primary use cases:
- Steward the development of the Saber Protocol & collaborate with the community on key parameters like fee models
- Align incentives between Saber stakeholders (users, liquidity providers, ecosystem partners, team)
For early community governance, token holders should use the official Saber Community Discord. We’re currently working with different teams across the ecosystem to build out the first on-chain governance platform on Solana.
The hard cap of SBR is 10 billion tokens. Distribution of SBR is as follows:
- 3,141,592,653.00 SBR (31.42%) Mining Reserve
- 2,510,100,000.00 SBR (25.10%) Partnerships & Ecosystem
- 1,957,900,000.00 SBR (19.58%) Team & Advisors (2 year linear release)
- 1,548,100,000.00 SBR (15.48%) Strategic Fundraise (2 year linear release)
- 842,307,347.00 SBR (8.42%) Liquidity Reserve
Initial Liquidity Mining Distribution
A significant portion of the mining reserve (100,000,000.00 SBR or 1% of total token supply) will be distributed during the first two weeks of the liquidity mining program. This ensures that from the beginning, voting power will be given to actual users of the protocol and help align liquidity provision incentives.
The target launch date for the liquidity mining program is July 15, 2021 at 10:00 PM UTC. Follow our Twitter for the latest updates.
Saber Grants Program
A grants program will be created from the Partnerships & Ecosystem allocation to help support projects that benefit the Saber ecosystem. Proposals will be reviewed by a council of DeFi contributors across the community.
If you’re building a project looking to integrate with Saber, we’d love to talk to you!