🤑ERU Tokenomics

Introduction to ERU tokenomics

eruSwap also called eSwap (abbreviation) is a cross-chain decentralized trading platform for seamless cross-chain crypto swaps, connecting fiat-to-crypto and crypto-to-fiat, providing a protocol for trading and automated liquidity provision for the self-made retail crypto trader in emerging markets powered by AXELAR, owned by the community. A grand design with tokenomics that seek to inspire the best behavior from all participants for the greater good of all stakeholders.

Launch partners will receive an initial veERU position to help them get started. A group of loyal users from each partner protocol will participate in veERU/$ERU airdrop to users, which early Chefs will also be a part of. In total we expect over 10,000 users to be airdropped a mix of locked and unlocked tokens.

While early participants will thrive thanks to the initial veERU allocation, ERU tokenomics incentivize mutual value creation, and discourage actions that go against the ve(3,3) core principles.

Gauge voting system

On EruSwap, farming incentives are determined via gauge weight votes, a model inspired by Curve Finance's "vote-escrowed" model. On EruSwap, periods are separated into weekly epochs. During each epoch, individuals who have converted their $ERU tokens to veERU tokens will be able to vote on emission levels. The emissions a gauge will receive are proportionate to the share of the total votes at the end of a given epoch. EruSwap's Gauge Weight Voting mechanism consists of a Bribing Marketplace where protocols can deposit bribes to acquire veERU votes in favor of their gauges. At the completion of the epoch, the holders who voted in favor of a gauge can claim the associated bribes.