HackMD$SBF Token Holders Control StonkBase
The $SBF token is used to operate StonkBase's dispute resolution system, known as the Data Verification Mechanism (DVM). Owning $SBF gives you the ability to contribute price information to the DVM and govern the StonkBase protocol.
The benefits of owning $SBF include:
- Earning rewards for voting on price requests from financial contracts using the DVM
- Earning rewards for governing the StonkBase ecosystem by voting on parameter changes and approving system upgrades
- System upgrades can include supporting new price identifiers or collateral types
Voters who participate and vote correctly earn an inflationary reward, distributed pro-rata by stake.
As the total value of collateral locked in StonkBase grows, the $SBF token is required to increase in value to ensure the security of the DVM. The DVM is designed with an economic guarantee around the cost it would take to corrupt the oracle and the profit someone would receive from corrupting the oracle. The cost of corrupting the DVM is as measured by the cost of obtaining 51% of $SBF voting tokens.
The DVM ensures the price to obtain 51% of $SBF tokens is greater than the profit from corrupting the DVM, as measured by the collateral stored in the financial contracts that are registered with it. To ensure this inequality holds, the DVM may charge fees to financial contracts which the DVM would use to buy $SBF tokens.
Voting on price requests
Owners of $SBF tokens will occasionally be asked to vote on price requests from financial contracts in a 2-stage (commit and reveal) voting period. Each stage is open for 24 hours, so each voting period is 48 hours.
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$SBF Tokenholders can discuss their votes in the DAO before voting
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$SBF tokenholders can use the Voter dApp to vote on price requests
Governing the StonkBase ecosystem
$SBF tokenholders govern two areas of the StonkBase ecosystem:
- Contracts using the DVM
- The $SBF DVM
All governance proposals will be addressed via the UMIP process.
Examples of governance proposals include:
- Approving new Stonks and collateral currencies
- Upgrading the core DVM protocol and / or modify DVM parameters
- Registering and de-registering contract templates
- Shutting down contract instantiations (in rare circumstances)
