Governance

The goATEN (governance ATEN) is a vesting system which locks ATEN Tokens for a maximum of 3 year. The goATEN system is designed to promote long-term token-holder alignment and facilitate fair protocol fee distribution.

By locking the ATEN, holders are given goATEN, entitling them to governance rights and protocol fee collection. A user's goATEN balance is directly proportional to the amount of ATEN locked and the duration of the lock period. In short if a user locks 1 ATEN for 52 weeks, they will receive the same amount of goATEN as someone who locks 2 ATEN for 26 weeks. ATENs locked between 53 and 156 weeks will have a higher coefficient for obtaining goATENs.

$$goATEN number = \begin{cases} \frac{1}{52}\sdot x \sdot y &\text{if } 0\leq y\leq 52 \\ \frac{1}{52}\sdot x \sdot 52+\frac{3x\sdot(y-52)}{104} &\text{if } 52<y\leq 156 \end{cases}$$

$$Variable: \space\space\space\space\space\space\space\space\space\space\space\space\space\space \bullet x=Amount\space of\space token \space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space$$

$$\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space \bullet y=Duration\space in\space weeks \space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space\space$$

Implications:

• goATEN holders receive 50% of protocol fees including:

  • 20% of the Cover Premiums accumulated on Athena Protocol are collected as protocol fees.

  • 50% of the yields on yield bearing tokens (coming soon)

• goATEN is the governance token of Athena, used in Snapshot voting to authorize changes to the DAO including the management (adding/removing) of boost and funding of service providers.

• goATEN holders with a blocking period of more than 52 weeks receive ATEN rewards.

• The handling and amount of protocol fees are subject to change based on Athena governance process

This gives goATEN holders the option to choose pools for which they have liquidity positions for increased rewards emissions.