The native token of the Metal X Lending ecosystem is LOAN, which is used to reward both borrowers and lenders for using the platform, and govern the platform.
- XMT (MTL): Received 333 LOAN for every 1 XMT held
- Unstaked XPR: Receive 1 LOAN for every 1 XPR held
- Short Staked XPR: Receive 2 LOAN for every 1 XPR short staked
- XPR-USDC Liquidity: Receive 2 LOAN for every 1 XPR held in the XPR-USDC XPR Network Swap liquidity pool
- XMT-USDC Liquidity: Receive 666 LOAN for every 1 XMT held in the XMT-USDC XPR Network Swap liquidity pool
The initial distribution issued 72,647,650,990.8235 LOAN in accordance with the criteria above.
GovernanceIndividuals who hold LOAN tokens will be able to use them to vote for various decisions for the LOAN Protocol.
- Which tokens can be collateralized on the protocol to be borrowed or lent
- What the interest rate curves will be for borrowing tokens
- Other governance decisions, as required
In this way, LOAN token holders can utilize their tokens to steer the direction of the protocol, shape it to meet their needs, and exercise community control over this DeFi platform.