Utility & Governance

What is the token utility?

Rewards in the expansion of Picnic Fund (BASKET) are attributed to holders of PICNIC token.

Governance

The private key has the ability to update a variable on the controller contract so the smart contracts can be upgraded in line with governance decisions.

PICNIC token bestows voting rights for the Picnic Network ecosystem. Votes are delegatable. Stakeholders can vote on the allocation of the underlying funds, protocol improvements, incentive structures and product development paths. Tokens must be staked to participate in votes, create proposals and add items to the governance process.

Possible changes to the governance process could include voting threshold levels, agreement requirements for successful proposals and the minimum amount of PICNIC needed to submit a proposal.

Fee Parameters

The redemption and transaction fees can be voted on via the governance portal.

See Fees & Rewards for further details on types and utilisation of fees.

Operational Changes

Settlement frequency, the allocation of funds, the NFT purchase options and the rebalancing ratios and corridors can be voted on by the community.

Stability Parameters

Those parameters open to votes will have a maximum percentage change of 1% and a minimum time period between votes.

As an example, changes in the Fund A composition will be limited to changes of 1% in each asset every two months.