Research Summary
The report discusses the new tokenomics being developed for Hermes, a protocol within the Maia DAO. The new system involves three separate utility tokens: bHERMES-Votes (bH-V), bHERMES-Gauge (bH-G), and bHERMES-Boost (bH-B). Each token serves a different purpose, allowing users to maximize efficiency and composability within the Hermes protocol.
Key Takeaways
The Tri-Token System
- Introduction of the Tri-Token System: The report introduces a new tri-token system developed for Hermes. This system involves three separate utility tokens: bHERMES-Votes (bH-V), bHERMES-Gauge (bH-G), and bHERMES-Boost (bH-B). The system allows users to burn their HERMES tokens to receive bHERMES, which can then be used to claim the three utility tokens.
- Utility of the Tokens: Each utility token serves a different purpose. bH-V is used for governance, allowing holders to vote on Hermes Improvement Proposals (HIPs). bH-G allows holders to collect fees and bribes from the Hermes gauges. bH-B is for liquidity providers who are staked in gauges, allowing them to get boosted HERMES rewards.
Token Allocation and Delegation
- Token Delegation: Holders of bH-V and bH-G can delegate their voting power to other wallets. However, bH-B cannot be delegated. Instead, bH-B holders can lend their boosts via the boost factory, allowing others to enjoy boosted rewards while paying a fee to the boost creator.
- Token Allocation: The tri-token system allows users to choose where most of their bHERMES is allocated, providing maximum composability. To get back their bHERMES, users need to relinquish their utility tokens.
Future Developments
- Upcoming Developments: The report mentions that Maia DAO is close to completing their Arbitrum launch, which will introduce many new products and features. The DAO is currently in a phase of rigorous auditing.
Actionable Insights
- Understanding the Tri-Token System: Stakeholders should familiarize themselves with the new tri-token system and its implications for their interaction with the Hermes protocol. This includes understanding the utility of each token and how they can be used to maximize efficiency.
- Monitoring Future Developments: Stakeholders should keep an eye on the upcoming developments within Maia DAO, including the completion of their Arbitrum launch and the introduction of new products and features.
