Tokens
SPECTER
SPECTER token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain SPECTER's peg to 1 Fantom (FTM) token in the long run.
Note that SPECTER actively pegs via the algorithm, it does not mean it will be valued at 1 FTM all times as it is not collaterized . SPECTER is not to be confused for a crypto or fiat-backed stablecoin.
SSHARE
SPECTER Shares (SSHARE) are one of the ways to measure the value of the SPECTER Protocol and shareholder trust in its ability to maintain SPECTER close to peg. During epoch expansions the protocol mints SPECTER and distributes it proportionally to all SSHARE holders who have staked their tokens in the Mausoleum.
SSHARE holders have voting rights (governance) on proposals to improve the protocol and future use cases within the SPECTER finance ecosystem.
SSHARE has a maximum total supply of 80500 tokens distributed as follows:
DAO Allocation: 5500 SSHARE vested linearly over 100 days
Team Allocation: 5000 SSHARE vested linearly over 100 days
Remaining 70000 SSHARE are allocated for incentivizing Liquidity Providers in two shares pools for 12 months
SBOND
SPECTER Bonds (SBOND) main job is to help incentivize changes in SPECTER supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of SPECTER falls below 1 FTM, SBONDs are issued and can be bought with SPECTER at the current price. Exchanging SPECTER for SBOND burns SPECTER tokens, taking them out of circulation (deflation) and helping to get the price back up to 1 FTM. These SBOND can be redeemed for SPECTER when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for SPECTER when it is above peg, helping to push it back toward 1 FTM.
All holders are able to redeem their SBOND for SPECTER tokens as long as the Treasury has a positive SPECTER balance, which typically happens when the protocol is in epoch expansion periods.
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