> For the complete documentation index, see [llms.txt](https://tokendao.gitbook.io/tokendao-documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://tokendao.gitbook.io/tokendao-documentation/governance/usdtoken-governance-token.md).

# $TOKEN - Governance Token

TOKEN is currently unlisted until we are further along in the development process. 

### What is $TOKEN? 

TOKEN is the TokenDAO's governance token used to vote in changes to the TokenDAO. TOKEN holders may vote for new TokenDAO products, or vote on allocation of the TokenDAO treasury, and more. TOKEN is an ERC-20 standard token on the Ethereum blockchain. 

TOKEN contract address: [0x3DD6B2792dbd834296c0747600049Bdfcca3aFef](https://etherscan.io/token/0x3dd6b2792dbd834296c0747600049bdfcca3afef)

### Launch & Initial Token Distribution

TOKEN was launched March 24, 2022 with an initial token supply of 10,000. These tokens are held by the developer until TokenDAO is further along in the development process. 

### Potential Plans for $TOKEN

We would like TOKEN's value to have an intrinsic value tied to the value of our products. Therefore, if the value of our products increases, so too will TOKEN. We plan to do this by creating liquidity pools where TOKEN is the base currency, and our products are the quote currency. So, for example, we create a TOKEN/TCOR liquidity pool on Uniswap. In essence, TOKEN would be priced in terms of our [TCOR](https://www.tokensets.com/v2/set/0xEfc6EA4B3B86308cae83031bA7C1Ff4e532AEF88) portfolio. When TCOR's value rises, it costs more to buy TOKEN, essentially increasing the $USD value of TOKEN. On the flip-side, if TCOR's value declines, it costs less to buy TOKEN, essentially decreasing the $USD value of TOKEN. In this way, TOKEN is not just some worthless governance token, but has actual backing who value is tied to the success of our products. 

Additionally, another idea we have is to use TokenDAO's earned income from streaming fees, and swap fees, to buy TOKEN on the secondary market, essentially like a stock buyback. 


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