Token Use Cases
What can you do with $SEN and why should you HODL it?
Last updated
What can you do with $SEN and why should you HODL it?
Last updated
As the Heart of Sentre’s ecosystem[12], SEN possesses some of the most beneficial use cases for long holders, namely:
To propose an on-chain improvement, participants need to stake SEN in order to vote and reach a consensus. The ratified proposals will be implemented and deployed by the foundation team. For example, as Sentre is an open liquidity protocol, if any new project wants to inherit liquidity from Sentre then SEN holders can vote to choose whether or not this dApp project is worth it.
SEN helps reduce and maintain an upper bound of the exchange fee. When swapping, with SEN as the “bridge” between any pair of tokens, users can reduce the exchange rate from 0.3% to only 0.25%.
SEN is designed as a fee collector. With any swapped pair, the fee can be easily transformed into SEN. Then, instead of burning them away, these fees are collected and automatically transmitted to other SEN-based services.
SEN connects all pools in the ecosystem and makes sure any pair of tokens can be swapped. Putting SEN into all existing two-token pools on SenSwap helps users focus all liquidity into one pool instead of having to deposit into three different pools. This increases liquidity effectiveness and reduces the hassle of having to balance between three pairs of tokens when depositing.
As SEN is present in any and every pool, there is no token that can’t be converted into SEN. Therefore, any pair of tokens, no matter how exotic and rare, can be swapped by simply converting both into SEN. Other tokens can also be evaluated via SEN for the same technique.
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[12] In cases where SEN is enabled to be active in triad pools.
