Token Utility

The utility of IDEA token includes the following:

Staking for Governance

IDEA token holders will be eligible for voting on Ideaology product features, token utility, types of auctions. They are also entitled to decide which projects are preferentially to be listed by Ideaology.

Protocol Governance

The Ideaology governance framework aims to build a solid and sustainable protocol, that is to say, IDEADAO, for development and usage of Ideaology protocols. IDEA holders will be able to vote for ecosystem initiatives, new features development, distribution specifications for liquidity rewards and other applications.

IDEA holders need to stake their IDEA in order to be able to vote and to submit proposals. Proposals will be first discussed off-chain on the Ideaology governance platform. The idea of this pre-voting mechanism is to promote proposal discussions before on-chain submission.

Once the proposal is ready to be submitted, the on-chain vote will be taken. Every winning proposal is then reviewed and applied by the Ideaology development and management team. Voters will be rewarded IDEA for their governance contribution.

Governance for Project Listing

Staking for governance can also be utilized in terms of LP’s voting for token projects, which is more featured by Ideaology. By staking IDEA, the user is eligible for voting for and against a project. If a project is voted down, the IDEA staked by a voter is immediately restored. If a project is approved by voting, the user, as a voter, acquires priority over project token sale. The user is also eligible for receiving a portion of project tokens distributed as a reward for governance contribution by the project. The voters can also be rewarded the project tokens, the total amount of which is set by the project at the time of IDO application. The amount of reward that the user receives is determined according to their IDEA staking ratio for voting. The listed project is liable for a 2% platform fee of the token sales.

Transaction fees

Transaction fees are paid in IDEA token.

Yield Farming (2021 Q4)

As a DeFi system, Ideaology is planning to launch the yield farming program in Q4 of 2021. With these services, users will be able to easily swap one token for another, and do yield farming on a variety of liquidity pools.

The way Ideaology protocol will work is simple. Let us consider our initial Ethereum-based. If there is a swap volume for a certain period of time, a user who contributed one tenth of the volume will receive 10% of the total liquidity rewards.

Users can provide liquidity by adding token pairs to various liquidity pools. In so doing, they need to hold an Ideaology-supported token pair. Ideaology protocol is designed and implemented to secure as high a yield rate (i.e., liquidity pool earnings rate) as it can be, which will be revealed as the users get involved with creating liquidity pools and adding liquidity to them.