SBT Token
Native utility token: gas, governance, witness rewards, LP incentives, and buyback
SBT is the native utility token of SB Chain. It powers every economic mechanism in the protocol: witness block rewards, on-chain governance, LP emission rewards, and a phase-gated buyback-and-burn programme that activates at the $1M daily volume milestone. There is no gas cost — all user-facing actions are free at genesis.
Supply and Distribution
| Allocation | Share | Tokens | Vesting |
|---|---|---|---|
| Team & Contributors | 23% | 230,000,000 | 12m cliff + 24m linear |
| Foundation Reserve | 9% | 90,000,000 | Governance abstention Year 0–1 |
| Strategic Reserve | 3% | 30,000,000 | Foundation-controlled multisig |
| Ecosystem Grants & Builder Fund | 6.5% | 65,000,000 | Community council from Year 2 |
| Witness Block Rewards | 20% | 200,000,000 | Per block over 10 years |
| Genesis Programme Airdrop | 10% | 100,000,000 | Points-based, partial vest |
| LP / Staking Rewards | 17.5% | 175,000,000 | Front-loaded emission curve, 5 years |
| Future LP Emissions Tail | 3% | 30,000,000 | Year 6+ |
| Protocol-Owned Liquidity Reserve | 8% | 80,000,000 | Governance-restricted POL |
Total fixed supply: 1,000,000,000 SBT. No inflation. No additional minting. 35% is held by team, contributors and Foundation under vesting; 65% flows entirely to network participants.
LP Reward Emission Schedule
| Year | SBT Allocated | Unallocated |
|---|---|---|
| Year 1 | 70,000,000 | Unused amount burned at year-end |
| Year 2 | 50,000,000 | Unused amount burned at year-end |
| Year 3 | 30,000,000 | Unused amount burned at year-end |
| Year 4 | 15,000,000 | Unused amount burned at year-end |
| Year 5 | 10,000,000 | Unused amount burned at year-end |
Utility
SBT serves five distinct roles within the protocol, each independent of the others so that no single use dominates:
- Zero gas — no transaction fees for swaps, LP deposits/withdrawals, or governance votes
- Governance — SBT holders vote on witnesses, committee members, and worker proposals via RDPoS
- Witness rewards — block producers earn SBT for every successfully produced block
- LP emission rewards — LPs earn SBT from the 17.5% allocation proportional to their pool share
- Buyback and burn — phase-gated: 0% at launch, activates via governance at $1M daily volume milestone
Buyback and Burn (Phase-Gated)
The buyback-and-burn contract and governance parameter (burn_fee_percent) are deployed at genesis with the burn percentage set to zero. Activation happens via governance vote when daily trading volume crosses $1M — announced publicly as a milestone. Fee revenue then splits across three phases:
| Phase | Daily Volume | Treasury | SBT LP Rewards | Burn |
|---|---|---|---|---|
| Phase 1 | < $1M | 100% | 0% | 0% |
| Phase 2 | $1M – $10M | 60% | 30% | 10% |
| Phase 3 | $10M+ | 30% | 40% | 30% |
In parallel, any SBT from the annual LP emission allocation that is not distributed is burned at year-end rather than rolled forward. This provides supply reduction from genesis, independent of trading volume.
For full technical specification, cryptographic proofs, and implementation references, read the SwapBlok Whitepaper.