Slow Protocol

What is Slow Protocol?

It's an experimental smart contract that locks up SOL in its treasury in exchange for $SLOW (minting), then reverse dollar cost averages SOL back into $SLOW at an increasingly sluggish rate (buy & burn).

The more SOL enters the treasury, the slower it gets.

Slow can also be characterized as:

• An experiment in continuous minting.

  $SLOW is the first token that can only be minted by competing for local block space in the $SLOW contract. Everyone has an equal ability to mint.

• A vehicle for decentralizing Solana. SOL locked up via minting is converted into mSOL viaMarinade Finance. Once mSOL enters the treasury, it has high inertia. This improves the long-term decentralization of Solana validators via liquid staking.

• A simple, permissionless public good. Slow does what it says on the box and nothing more. Low cost means anyone can participate, and continuous minting means those with the deepest pockets won't be able to front-run ownership of tokens.

Proudly built on Solana. This project simply wouldn't work on other chains, as its high transaction volume would cause immense congestion and price out other apps on the chain.

Token minting starts at 500,000 per day and decays by 0.1% per day. This means there's a halving in new token issuance roughly every 2 years.

Buy & Burn

All SOL that enters the $SLOW treasury is used as a reserve. At current treasury balance, 9.21% of the treasury is used to buyback and burn $SLOW daily.

Anyone can initiate a buy & burn. This will use the pending amount of SOL to buy $SLOW on the SLOW/mSOL market on the Raydium DEX and immediately burn it in the same transaction.

Network Usage

Usage of the Slow Protocol contract incurs network fees priced in SOL. This supports the Solana community by paying validators and deflating the supply of SOL.

Tokenomics

100% of the tokens go to the community.

That's it. No pre-mine or developer allocation. Anyone who interacts with the SLOW contract starting at slot 159,522,414, 11/5/2022 7:00:10 PM, and going on indefinitely has equal ability to mint tokens.