🛠️Token Utility
The utility for Diamond Desks native token.
The operational model of the Diamond Desk OTC market relies on a fee-based system.
The standard fee for a completed order is 1.5%, while closing an incomplete order incurs a fee of 0.25%.
The fee it utilised for:
Development expenses: 7% is allocated towards covering ongoing development expenses, facilitating consistent updates to the platform.
Revenue-sharing: 70% of the fees is redistributed to $DESK token stakers.
Fees maybe recieved in different assets but they will be converted to $DESK to payout those staking and holding $wDESK
Buyback and Burn: 23% is used to buy back and burn tokens to create a deflationary ecosystem.
Staking
Diamond Desk generates revenue through the collection of fees from successful OTC market transactions. 70% of these fees are distributed to $DESK token holders.
When $DESK is staked, holders receive $wDESK, the staked wrapper token, which holds no intrinsic value.
What's the point of $wDESK?
It can be utilized as collateral on the OTC market, offering an alternative to conventional currencies like ETH or BTC.
To receive revenue share from the Diamond Desk OTC market
Serving as a DAO, $wDESK enables voting on the preferred token by the Diamond Desk community for listing.
Note: The rewards for $DESK are only paid out in increments to prevent post-claim sell pressure and withdrawals can only be processed at any time after 5 days of initial staking.
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