Themis Protocol log in to Blast L2 launches an innovative dual Token economic model

2025-07-13 02:31:14

Themis Protocol Launches New Economic Model on Blast L2

Recently, a decentralized derivatives protocol announced its official launch on the Blast L2 network, introducing a new token and economic model, injecting new vitality into the decentralized derivatives space.

The agreement began its IDO( initial decentralized offering on May 13 and announced the end of the IDO on May 29. Within 15 days, the project reached the IDO hard cap, raising 625 ETH, with subscription amounts exceeding $2.4 million. Such a hot market response has sparked strong interest in the agreement. This article will detail the dual-token economic model of the agreement on Blast L2, including the governance token $THS and the contribution value token $SC.

![What is the charm of Themis Protocol, which completed 625 ETH in IDO fundraising in 15 days and is about to deploy Blast L2?])https://img-cdn.gateio.im/webp-social/moments-75a351efdaa8cbead44dd22f3135034c.webp(

Project Overview

The protocol is a decentralized derivatives trading platform built on Blast L2, aimed at attracting more users to participate in the decentralized finance market by providing an efficient, secure, and transparent perpetual trading environment, as well as offering incentives and value capture opportunities. The dual-token economic model on Blast L2 is an important component of this protocol.

In the decentralized finance market, the economic model is crucial to the success of a project. It not only determines the token allocation and incentive mechanisms of the project but also affects its long-term development and market performance. An excellent economic model can attract more investors and users, thereby driving the rapid growth of the project.

Governance Token THS

THS is the governance token of the protocol, with a maximum supply of 10 million tokens. The main role of THS is to serve as the voting power for platform governance, and it is also the primary value storage point for various revenues generated by the protocol's derivatives exchange.

THS is an asset-backed cryptocurrency, with each THS minted by the protocol's treasury at a rate of 1 dollar per coin, and a 10% minting tax is charged by the protocol each time THS is minted.

) THS minting and issuance

The issuance and minting process of THS is closely related to the development history of the protocol. In the early stages of the project, the genesis minting was conducted through an IDO, with a total of 333,333 THS. Among them, 33,333 THS (10%) were allocated as minting tax, and 300,000 THS (90%) were used for distributing the IDO and adding initial liquidity. The IDO price was 0.0025 ETH, and the initial listing price was 0.0031 ETH.

Except for the THS minted during the Genesis Minting, subsequent issuance of THS can only be minted through bond sales. By selling LP bonds, the Treasury holds 100% liquidity of the THS-ETH trading pool.

The minting tax of THS is used for the technical development and maintenance of the protocol, rewards for community node users, and development funds. Over time, the actual circulation of early THS will gradually increase, but due to various factors such as the value of treasury assets, the price of THS, and the profit positions of derivative exchanges, it will enter a deflationary phase in the mid to later stages, with its actual circulation far below 10 million coins.

circulation of THS

THS holders can earn staking rewards by staking THS during the Rebase period:

The earnings from THS staking are compounded in the form of sTHS and can be unstaked at any time. However, the compounded earnings cannot be obtained immediately and will be released in equal amounts over 180 days according to the blocks. By burning SC, the release speed can be accelerated to a maximum of 30 days.

Users can also purchase LP bonds by adding THS-ETH LP liquidity to obtain THS minted by the treasury. When users purchase LP bonds and stake the full amount of THS, they will receive an additional 5% THS token reward.

The destruction and rights of THS

The governance token THS has a close relationship with the derivatives exchange. The treasury acts as the short-term counterparty for all trades on the exchange, while THS serves as the long-term counterparty. Therefore, THS has a strong value capture capability. In the long run, THS will be in a deflationary state, and the price performance of THS will also outperform similar products.

In most cases, traders incur losses, with 35% of the profits from the treasury position deposited into the national treasury as reserve capital for minting THS, and 55% of the profits from the treasury position used for the repurchase and destruction of THS. The circulation of THS decreases, raising the price. In extreme cases, when traders profit and the collateral rate of ETH is less than 100%, the treasury contract activates the reserve for minting THS, which is then sold to fill the gap in the treasury's ETH pool.

The ability of tokens to capture value for the project itself determines the success of the token economic design of the project, and 25% of the trading fees from the derivatives exchange will be returned to THS stakers, meaning that THS stakers can also earn this portion of trading fee revenue in addition to the staking rewards.

![What is the charm of Themis Protocol, which completed the 625ETH IDO fundraising in 15 days and is about to deploy Blast L2?]###https://img-cdn.gateio.im/webp-social/moments-959a690d919112b21d7e05776f4df8c2.webp(

Contribution Value Token SC

SC is the contribution value token of the protocol, with a theoretical maximum supply of 1 billion tokens. Its main function is to reward those who contribute to the growth of protocol users, and it can also serve as a burning mechanism to accelerate the release of THS staking rewards.

The SC genesis phase will issue 1 million tokens, which will be used for airdrops and rewards during specific phases. Apart from the SC issued during the genesis, other SCs will be minted by the protocol, which will establish an initial treasury of 10,000 USDB for SC.

) SC's minting and issuance increase

SC is minted by users who stake THS, and the minting will consume USDB. The minted SC is rewarded to those who contribute to the growth of the protocol's users, and the process of minting SC will cause the price of SC to rise.

THS stakers can earn a high compound interest of 0.2% every 8 hours, but need to spend an additional 20% of the value of staked THS (USDB) to mint SC tokens. The minted funds will enter the USDB treasury, with 5% of the minted SC allocated as a protocol development fund, and the remaining 95% will be rewarded to referrers and node users.

Redemption and Burning of SC

Users who hold SC can accelerate the release speed of staked THS earnings by burning SC. This process destroys SC, so burning SC to accelerate the release of THS staking earnings will increase the price of SC.

In addition, users can redeem SC for USDB at real-time prices from the USDB treasury. A redemption tax of 15% will be charged for redeeming SC for USDB, and the redemption tax will remain in the USDB treasury. When users redeem SC, the rate at which the total amount of SC decreases is faster than the rate at which the USDB treasury decreases, thus the redemption process will also lead to an increase in the price of SC.

Therefore, the SC token is a unidirectional continuously rising model. In summary: minting SC, burning SC, and redeeming SC for USDB will all cause the price of SC to keep rising. The optimization of the SC model is an important innovation after the protocol migrates to Blast, and this mechanism will play a crucial role in the launch of the protocol and subsequent user growth.

![What is the charm of Themis Protocol, which completed 625 ETH of IDO fundraising in 15 days and is about to deploy Blast L2?]###https://img-cdn.gateio.im/webp-social/moments-e6f5981ac984aaa5bd94412e0d0d4505.webp(

Dual-Currency Economic Model

The governance token THS and the protocol contribution value token SC play different roles in the economic model of this protocol. They are interdependent and mutually reinforcing, which will drive the development and prosperity of the platform together. Specifically, there are several aspects:

Injecting funds and liquidity into the protocol: The minting and circulation of THS and SC can bring more funds and liquidity to the protocol treasury and vault, promoting the development and prosperity of the platform.
Maintain the stability and balance of the platform: The reward mechanism of the contribution value token SC and the destruction mechanism that accelerates the release of THS staking rewards promote a positive cycle of the protocol, thereby maintaining the stability and balance of the platform.
Improve transparency and fairness: The minting and circulation of THS and SC are completely executed on the smart contract chain, ensuring fairness and justice.

Summary

The dual-token economic model on Blast L2 is an important component of its decentralized derivatives trading platform. The interaction and influence of the two tokens, THS and SC, will together drive the development and prosperity of the platform.

THS serves as a governance token, providing support for the platform's governance and development, while also acting as a reward mechanism to incentivize users to participate in the platform's construction and growth. SC, as a contribution value token, is used to reward those who contribute to the growth of protocol users, and it can also serve as a burning mechanism to accelerate the release of THS staking rewards. Through the interaction of THS and SC, economic balance within the protocol is achieved, while also enhancing the platform's transparency and fairness, protecting the interests and rights of users.

![What charm does Themis Protocol, which completed 625 ETH in IDO fundraising in 15 days and is about to deploy Blast L2, have?])https://img-cdn.gateio.im/webp-social/moments-6e10019165679a4d46267cc55b83e076.webp(

BLAST19.39%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

21 Likes