SIG token is a central unit in a xSigma DEX. It's an ERC20 token on the Ethereum blockchain
You receive SIG tokens for staking LP pool shares, and use SIG to vote for the DEX's configuration.
xSigma DEX LPs receive 60% of all SIG tokens minted. SIG token total supply is capped at 24,024,024 tokens.
The SIG token has four use-cases:
- DAO voting: Holders are able to use SIG to cast votes on certain decisions with respect to xSigma. None of these votes, however, can disposes LPs of their assets placed on the platform. No matter how SIG tokens are voted, LPs cannot lose the liquidity they have placed into the protocol
- Claim of a part of DEX exchange fees: Holders of SIG earn fees as a function of the then applicable rules of the platform as coded therein. Please see the buyout and burn paragraph discussions above
- Ethereum transaction gas cashback: Holders of SIG People owning SIG may receive a gas subsidy by some of their gas being returned to them on some platform transactions.
- Farming bonuses: Holders of SIG may earn additional farming bonuses as and when the platform elects to pay them
For a quick intro to SIG, you may read this starter guide on SIG tokens:
Continue reading this section for a detailed description: