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The Utility of BZRX
The BZRX token is a governance token, first and foremost. Collectively, the token holders have the power to upgrade the protocol as they see fit, only constrained by the checks-and-balances of the bZxDAO. This allows token holders to create incentives to reward participation and drive usage of the protocol. A number of proposals have been made to capture value and drive participation in governance. These include:
These proposals will be voted on by the DAO upon relaunch.
The Structure of vBZRX
The vBZRX token is an ERC20 token, making each token fungible and uniform. The underlying BZRX within the contract can be staked. However, there are limits to the number of vBZRX that can be staked at any given time. This limitation will be set by the staking contract itself. As currently proposed, it will be possible to participate in fee sharing with the staked BZRX inside the vBZRX contract; however, the fees do not vest until the token vests. Moreover, the voting power of BZRX staked from inside the vesting contract possesses only half of the voting power of a typical BZRX token. This was done to prevent the team from having a majority voting share over the DAO.
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