Shard is a unique decentralized token governed by the Shard community and used to govern the Infinity Protocols. It is also the native coin across a range of innovative platforms and protocols, providing a wide range of features, governance, benefits, burns and use cases.
Shard benefits from an ecosystem providing value, use cases and burns via the following mechanisms:
Governance - Shard holders are the decentralized decision-makers for Shard and the Infinity Protocols, as well as certain aspects of Infinity Crypto and Infinity Wallet. With the ability to create proposals and vote on integrations, whitelisting and treasury usage;
Burns - Across the ecosystem there is a range of ways Shard is burned, removing Shard from the supply. Some of these methods can be found further below in the "Deflationary Methods” section.
Whitelisting - Any token can apply to be integrated into an Infinity platform by burning Shard. After which its integration will be voted on by Shard holders, to democratically decide whether or not to accept the whitelisting;
Liquidity Rewards - Liquidity providers providing to the ecosystem can stake their liquidity tokens to earn rewards in Shard or other tokens, in addition to the trading fees collected;
Rewards & Incentives - Shard holders will have the privilege to enjoy incentives such as token airdrops from partners, cash-backs, limited NFTs and development grants;
Shard Staking - Users can earn Shard and other tokens by staking their Shard. This will provide additional incentive to holding Shard long-term;
Transaction Fees - Shard has a unique function to allow a holder to pay the transaction fee for sending Shard using Shard on the ETH & BSC chains, without requiring ETH or BNB. Allowing Shard to be used as one of the first cryptocurrency tokens for payments. Currently, this is a technical process, but in the future, we look to integrate tools to simplify the process, and ultimately integrate this ability into the Infinity Wallet.
Access Features - Require Shard to access certain services, this could be needing to hold Shard to take part in an IEO/IFO, or an advanced feature;
Discounts - Use Shard for discounts on the ecosystem's platforms and protocols;
Referral Program - Earn Shard from referral rewards across the ecosystem;
Fee Reduction - In the future, we look to propose to the Shard governance to use a % of protocol fees to pay a part of traders and liquidity providers gas fees. Allowing traders to receive discounts, or have their entire fees covered when trading, depending on the amount of Shard they hold;
Decentralized Index's - As part of the future decentralized index protocol we look to launch, Shard would be used to govern the indexes, as well as reward governors of the index. Additionally Shard would be held as a portion of each index.
At present, Shard is burned from the following sources:
0.05% of the traded volume on the Infinity Protocol;
100% of Shard burn community whitelisting on Infinity Crypto & Infinity Wallet;
Fees from the Infinity Wallet
We have a range of future methods planned to burn Shard and look to further work with the community on this.