SnowballPrice

(SNOB)

Snowball (SNOB) is a decentralized finance (DeFi) protocol built on the Avalanche blockchain. It provides a suite of products, primarily offering auto-compounding services for liquidity pools, particularly those found on various decentralized exchanges. Additionally, Snowball functions as an automated market maker (AMM) specifically designed for stable assets. The project's goal is to become a leading DeFi platform within the Avalanche ecosystem by continuously offering diverse and highly useful financial products to its users.

The SNOB token serves as the governance token for the Snowball protocol, granting its holders significant utility. SNOB holders can actively participate in the project's direction by voting on proposals through Snowball Governance. Furthermore, by staking their SNOB, users receive xSNOB, which provides enhanced voting power, a share of the protocol's generated revenue, and boosted rewards for their SNOB holdings. SNOB can also be used to provide liquidity within Snowball's own pools.

SNOB tokens can be acquired through a couple of primary methods. Users can earn SNOB by providing liquidity on the Snowball platform itself and then staking that liquidity within the protocol. Alternatively, SNOB can be directly purchased from various supported decentralized exchanges that list the token, providing a straightforward way for individuals to obtain it.

The Snowball project operates as an entirely community-run initiative, free from the backing of any centralized institution. While a core team handles day-to-day operations and development, participation in the project is open to anyone with active interest. Crucially, all major protocol decisions are made collectively by the community through Snowball Governance. The project transitioned to this community-driven model after initially being founded by pseudonymous individuals.

When utilizing Snowball's auto-compounding service, a 10% performance fee is applied. This fee is levied specifically on the profits generated from pool rewards. The purpose of these fees is twofold: they cover the necessary gas costs incurred during the auto-compounding process, ensuring efficient operation of the service, and they also contribute to funding the ongoing development and expansion of the Snowball protocol.

xSNOB is a derivative token obtained by locking SNOB tokens within the Snowball protocol. It is designed to reward long-term commitment and participation. Holders of xSNOB receive several key benefits: enhanced governance rights, allowing them more influence in protocol decisions; a direct share of the protocol's generated revenue, ensuring they benefit from its success; and boosted SNOB rewards, providing an incentive for their staked SNOB.