Governance
Scintilla Token (SCT)
The Scintilla Token (SCT) is a Cosmos IBC type token that plays a pivotal role in powering the Scintilla Network's Layer 0 (L0) chain. As the backbone of our protocol, SCT holders contribute to the network's security and efficiency by participating as validators in L0, facilitating a seamless operational experience across the protocol.
In recognition of their vital role, validators are rewarded with newly created SCT tokens, ensuring alignment of interests and continuous network support. The emission schedule of SCT is designed to decrease over each epoch, aligning with the network's growth and sustainability goals.
Usage within the Network
The Scintilla Layer-0 chain is governed via the SCT token, which is used for staking and governance. SCT holders can participate in the network's governance, including voting on proposals and influencing the network's development.
The token also plays a role in the accessibility of certain features and services within the layer-0 chain, including the ability to transfer assets between out of the L1 into external IBC-compatible chains.
Token Emission and Governance
SCT's emission schedule is carefully calibrated to reduce over time, ensuring a fair and sustainable distribution of tokens. Validators and participants are encouraged to actively engage with the network, contributing to its security and governance.
Governance plays a crucial role in the Scintilla Network, allowing SCT holders to participate in key decision-making processes. Through a proposal and voting mechanism, SCT holders can influence the network's development, from technical upgrades to governance policies.
To submit proposals or participate in governance decisions, SCT holders are required to burn a portion of their tokens, a mechanism that ensures active and thoughtful participation in the network's future direction. This system fosters a community-driven approach, where the governance budget system facilitates the allocation of resources for the network's continuous improvement and expansion.
Fairness
Prior to launch, the Scintilla Network will conduct an open and transparent access to be part of the genesis distribution of SCT tokens. This process will ensure a fair and equitable distribution of tokens, allowing a wide range of participants to become part of the network's growth and success.
As we expect Scintilla Network to grow in multiple waves, the network will continue to distribute tokens to participants, ensuring that the network's growth and success are shared.
Becoming a Validator
Being a validator on the Scintilla Network offers the opportunity to contribute significantly to the ecosystem's security and efficiency. Validators are crucial for the operation of L0, and becoming one requires holding and staking SCT tokens. This commitment not only supports network operations but also entitles validators to rewards, further integrating them into the network's growth and success.
For detailed instructions on how to become a validator and participate in the Scintilla Network governance, visit our documentation and join our community channel for support and guidance.