The following section of the documentation covers the Spherean ecosystem exclusively pertaining to its utility to $SPHERE as a token. To dive deeper into Covenant, join our Discord community.
Covenant is a KPI-based bribing marketplace.
The primary use of Covenant is to offer protocols & other interested parties an efficient way to incentivize veToken holders to vote in favor of their liquidity pools. Many DEXes in recent DeFi development have begun utilizing a vote-escrow model where every period governance holders have a say in where rewards & token emissions are directed.
Covenant enables parties interested in influencing the outcome of voting epochs a platform to post their bribes & distribute rewards according to the epoch's outcome.
This would make Covenant an escrow system that distributes rewards in an objective manner that is trackable on-chain.
Sphere Finance will be using part of the fees to bolster its treasury & fund the Sphere Earnings Pool.