IPT Sale

The IPT sale period has concluded, and the sale is no longer active at this time.

IPT and Governor Charlie

IPT holders collectively control the entire protocol and its revenues through the governance process. Because Interest Protocol (IP)'s contracts designate the core governance contract as their owner, IPT holders can propose and vote on changes to IP such as: adding new collateral assets, changing the parameters of existing collateral assets, updating the interest rate curve, and adjusting oracle contract combinations. They can also modify the governance and USDi contracts themselves to add additional features or update voting parameters. IPT holders also control how protocol fees are accrued and used. In short, IPT enables its holder to manage the entire protocol and its periphery contracts.

IP’s governance contract — aptly named Governor Charlie — is an extension of Compound’s Governor Bravo. Charlie inherits all the functionalities of Bravo but merges the governor and timelock contracts. In addition, Charlie introduces two new proposal types: emergency proposals and optimistic proposals. Emergency proposals are so IPT holders can make changes to the protocol contract on a faster timeline, albeit with a higher quorum threshold. Optimistic proposals will automatically pass and only require a low negative quorum to fail.

IPT Sale

We designed the sale to incentivize meaningful community participation from the outset. Instead of an airdrop, we chose to offer a small portion of IPT for sale daily for an extended period. By spreading out the sale period, the protocol can mature and garner more exposure to maximally distribute ownership of the protocol.

The GFX team will only retain a minority interest in the protocol. After the sale, GFX efforts will not be necessary for IP to function properly, and IPT holders will assume control of the protocol. GFX will continue to be involved in IP, but as community members with the same powers in governance as any token holder.

Below is the initial distribution of IPT total supply:

This page is for general information purposes only. It should not be relied upon for accounting, legal, or tax advice.