👁️Vision

We aim to build a performant permissionless protocol on an open source community framework where 100% of the revenue is shared amongst it's token holders. Gud dapp, gud tokenomics.

Below are some core tenets of focus on what we feel will make this project successful in the long term.

BE EQUITABLE

As Solana enjoyors, and long time blockchain users ourselves, we grew pretty tired of getting shafted left and right from non equitable token economies built around the dapps we were using. Quite frankly, most are just memes (which we love kek). That said, we want to be part of a platform that is profitable and is long term aligned with it's users. We think that's best accomplished using a strong and equitable tokenomic foundation. A few focus points:

• Give away 100% of the revenue. There should be direct incentive to hold the token beyond just speculation.

• No gimmicks, no points, just tokens. Rewards should be direct, and easy to understand, not shrouded by complexity.

• Have a linear, highly predictable emissions schedule FOR ALL. That includes launch team and investors. There should be no cliffs to promote massive dumps. Everyone should be aligned for the long haul.

• Raise as little as possible to give away as much as possible. There is no need to go chasing these absurd FDVs and create a low float high FDV scenario that has plagued Solana for so long. We believe in creating a natural up-only environment driven by actual usage and scarcity.

• Reward early users and reward active users. All incentives should be driven to promote positive interactions with the platform.

• Give users control over the project. Voting rights for all, more voting rights for long term believers.

BE FAST AND EFFICIENT

We chose Solana for a reason and we want to take full advantage of that. We want trades to execute quickly and conveniently, backed by cutting edge infrastructure (like quality RPCs). We want priority TX handling with staked validators, optimised on-chain instructions, and the least amount of indirection/proxy possible. This means no "request fulfilment model" or delays that diminish the user experience and hinder composability.

BE SIMPLE

Solana is gives us the ability to provide the best retail experience second to none. Be it for the UX/UI or for the codebase, we believe in keeping things simple and easy to use.

While the launch team is around, the core product will remain a GMX inspired Perp trading venue that avoids feature creep where it becomes too complex for everyday traders to use. When you want leverage we want you to come to Adrena!

BE COMPOSABLE AND WIDELY INTEGRATED

The previous point on being simple does not mean it's the end of the story after launch. We will pack the platform with as much QoL improvements and new features as we can. There is still so much more we can do to make this product great.

To put it simply, we want to be integrated with as many projects in the community as possible and we want people to build a thriving ecosystem around us.

Advanced features or integrations will be left to external modules/projects (even if we might eventually be the ones working on it). We will have a strong grants program that will power this system, and we will provide code examples for what we think is great low hanging fruit that can be win win for Adrena, future collaborators, and ultimately token holders.

BE RESILIENT

A good platform should be built on trust. And in our world that means trust in code. That said, we think consistent audits when changes occur are important. The codebase is currently completing an audit for launch by Ottersec, and we plan on a second one soon after. We will audit any code changes touching important components that hit mainnet.

The codebase will also be completely open source.

Lastly, we will have an ongoing bug bounty program on Immunefi shortly after launch to encourage others in the community to keep our platform secure. The more eyeballs the better.

And finally...

BE TRANSPARENT

It's something that is often loosely tossed around, but rarely actually implemented or enforced. On Solana for the past 3 years, most protocols have had a backdoor in their governance programs with either a council token or highly concentrated votes from shareholders (like VCs) delegating to the team.

With Adrena we want to have token holders that have a real vested long term interest in the platform.

By design, control over the platform (via proposals and voting) will be mainly held by the team and early contributors through their vesting tokens for the first few months. Their tokens will be locked but still provide voting power. This is to ensure quick build iterations out of the gate. Over a relatively quick period of time, through platform usage, ADX emission will slowly overtake these initial guard rails and the majority of tokens will be in the hands of the community.

All vests, and governance power, is handled at the smart contract level: no bamboozle, full transparency. (see Governance and Governance Shadow Token for more details)