Themis Protocol: An Innovative Decentralization Derivation Platform and Its Dual Token Economic Model

Themis Protocol recently announced its official launch on the Blast L2 network, introducing a new Token and economic model, injecting new vitality into the Decentralization derivation field. The protocol started its IDO on May 13 and reached its hard cap within 15 days, raising 625 ETH, approximately over 2.4 million USD. This enthusiastic market response has sparked significant interest in Themis Protocol. This article will delve into Themis Protocol's dual Token economic model on Blast L2, including the governance Token $THS and the contribution value Token $SC.

Themis Overview

Themis Protocol is a decentralized derivation trading platform built on Blast L2. It aims to attract more users to participate in the decentralized financial market by providing an efficient, secure, and transparent perpetual trading environment, along with incentives and value capture opportunities. The dual Token economic model of Themis is a core component and is crucial to the project's success.

Governance Token THS

THS is the governance Token of Themis Protocol, with a maximum supply of 10 million. It is mainly used for platform governance voting and for storing various revenues from the derivation exchange of the protocol.

The issuance of THS minting

The issuance of THS is closely related to the development stage of Themis. In the early stages of the project, a total of 333,333 THS were minted through an IDO. Among them, 33,333 were allocated as minting tax, and 300,000 were used for IDO distribution and to add initial liquidity. The IDO price was 0.0025 ETH, and the initial listing price was 0.0031 ETH.

The subsequent issuance of THS can only be minted through bond sales. By selling LP bonds, the treasury holds all the liquidity of the THS-ETH trading pool. The minting tax of THS is used for the technical development and maintenance of the protocol, community node user rewards, and development funds.

circulation of THS

1. THS holders can earn periodic staking rewards by staking THS.
2. Users can purchase LP bonds by adding THS-ETH LP liquidity to obtain THS minted by the treasury.

The destruction and rights of THS

THS is closely related to the derivation exchange tbTrade. When traders incur losses, 35% of the profits from the treasury positions are deposited into the treasury as reserves for minting THS, while 55% is used to buy back and destroy THS. In extreme cases, when traders are profitable and the ETH collateral rate is below 100%, the treasury will utilize the reserves to mint THS and sell it to fill the gap in the treasury's ETH pool.

In addition, 25% of the tbTrade transaction fees will be returned to THS stakers, providing them with additional income.

Contribution Value Token SC

SC is the contribution value token of Themis Protocol, with a theoretical maximum supply of 1 billion coins. It is mainly used to reward those who contribute to the growth of the protocol's users, and also serves as a burning mechanism to accelerate the release of THS staking rewards.

SC's minting and issuance increase

SC is minted by users who stake THS, and the minting process consumes USDB. The minted SC is rewarded to those who contribute to the growth of protocol users. To earn a high yield of 0.2% compound interest every 8 hours, THS stakers need to spend an additional 20% (USDB) of the value of staked THS to mint SC Token.

Redemption and burning of SC

SC holders can accelerate the release speed of THS staking rewards by burning SC. Users can also redeem USDB from the USDB vault at real-time prices, but must pay a 15% redemption tax.

The Role of Dual-Currency Economic Model

1. Inject funding and liquidity into the protocol
2. Maintain the stability and balance of the platform
3. Improve transparency and fairness

The dual-token economic model of Themis Protocol is a core component of its Decentralization derivation trading platform. The two tokens, THS and SC, interact and influence each other within the platform's economy, jointly promoting the development and prosperity of the platform. This innovative economic model is expected to bring new opportunities and challenges to the decentralized financial market.