$MONEY token

$MONEY is Own's protocol token. It is live on the Pons launchpad, paired against SPY. Stake it for a fixed APR. Every trade in its pair funds a $MONEY buy-back and the treasury that pays staking yield and eUSD's liquidity incentives.

How $MONEY fits

Stake $MONEY for a fixed APR. The sMONEY vault pays 12% a year in $MONEY, with no lockup.

Its trading fees fund the ecosystem. Every trade in the $MONEY/SPY pair pays a fee. Part buys back $MONEY, and the bought-back $MONEY and the rest of the fees go to the treasury, which uses them for $MONEY staking yield, bribes for the eUSD LP rebate on Fables, and protocol operations.

$MONEY is the fund of funds. Own is a curator of every Curated Fund in OwnX and takes a third of each fund's curator income: the fund fee on mints and redeems, the pool tax on trades, and the curator yield minted on top of staker yield (details). Own uses that income to buy back $MONEY, so every new fund adds another source of buy-backs. $MONEY is also an accepted bribe token in fund weight votes.

More on where fees go: Fees & LP rebate.

Fair launch

$MONEY went live without a presale. Anyone who wants it buys it on the open market, like everyone else, and the market has set the price since the first trade.

What $MONEY is not

• It is not required to use eUSD: minting, redeeming, staking eUSD and exiting all work without holding $MONEY.
• It carries no yield by itself. Staking it in the sMONEY vault earns the vault's APR, paid from the reward reserve the treasury funds.