# SAIL Token

Blacksail Finance is backed by a bonded USDC **revenue sharing** token which purchases and distributes platform rewards back to LP providers known as SAIL. The **SAIL Token** is backed by a liquid reserve of USDC which is readily available for redemption via the SAIL Bonding Curve. More information about the SAIL bonding curve can be found in [SAIL Bonding Curve](/about-blacksail-finance/sail-bonding-curve.md)

<figure><img src="/files/N29wvyHO6cnATqSrCpen" alt=""><figcaption></figcaption></figure>

## SAIL Tokenomics

* **Total Supply:**&#x20;
  * 700,000 tokens (100%)
* **Open Market Curve Available Balance (Remaining Balance):**&#x20;
  * 525,000 tokens (75%)
* **User Whitelist Allocation:**&#x20;
  * 140,000 tokens (20%) \**estimated but depends on total user whitelist participants*
* **Protocol Whitelist Allocation:**&#x20;
  * 35,000 tokens (5%)

### **SAIL tokens enable users to enjoy the following benefits:**

1. **Vault Revenue Sharing:** SAIL token holders receive 50% of all protocol revenues, distributed directly to them via the protocol SAIL vault.
2. **Swap Revenue Sharing:** SAIL token holders receive 80% of all swap revenues, distributed directly to them via SAIL lending.
3. **Redemption for USDC:** Tokens can be redeemed anytime for USDC through the SAIL curve, which is backed by a fully liquid reserve.
4. **Collateral for USDC:** Tokens can be used as collateral to borrow USDC for other uses while earning swap revenues.
5. **Scaling Buy Pressure:** Periodic fee redistributions drive consistent buy pressure, scaling with Blacksail’s Total Value Locked (TVL) growth.
6. **Price Appreciation via Bonding Curve:** Limited token supply ensures pricing growth is governed by a bonding curve function, rewarding early adopters and participants.
7. **Exclusive Airdrops:** Holders are eligible for partner airdrops, including tokens, NFTs, and other rewards.
8. **Governance Rights:** Owning SAIL tokens grants full voting rights, empowering holders to shape the future direction of Blacksail Finance.
9. **Protocol Benefits:** Token holders enjoy the advantages of ongoing protocol development, with new use cases and features continually enhancing SAIL’s utility<br>


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