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SHORES is the planned token of the Shores protocol, issued by the Shores Foundation, a Cayman Islands foundation company. It is separate from shUSD, which is your share of a lending vault, while SHORES is the protocol token.

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Timing

The TGE is planned for 24–36 months after launch. SHORES is not deployed yet. Any token claiming to be SHORES before then is not Shores.

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What SHORES is not

  • Not a revenue share. SHORES carries no right to protocol revenue and no distributions.
  • Not a claim on vault assets. SHORES holders have no claim on the loans or on any vault. The Foundation is walled off from the vaults.
  • Not shUSD. Holding SHORES earns no lending yield.

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Planned uses

  • Governance over protocol parameters, introduced over time. See Governance.
  • Points conversion. Points earned by staking shUSD are planned to convert to SHORES on terms that will be announced later. See Points.

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Exchanges

None. SHORES is not yet issued.

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Tokenomics (planned)

Everything in this section is planned and can change before the TGE.

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Supply and allocation (planned)

[TBD: total supply, allocation table, vesting and unlock schedule]

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Points allocation (planned)

A portion of supply is planned for the points program. [TBD: points allocation and conversion terms]

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Treasury fee share (planned)

Before the TGE, protocol fees go to the Shores operating company and the insurance reserve, and there is no treasury share. After the TGE, a treasury held by the Shores Foundation is planned to receive 25% of protocol fees. See Fees.

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Buybacks (planned)

Buybacks are planned to begin only after the TGE and would be funded only from the treasury’s fee share. The treasury may use that share for open-market SHORES buybacks but has no obligation to do so. [TBD: confirm buyback wording for publication]