User Roles and Incentives

Macro's tokenomics revolve around distinct roles, each contributing to the protocol's health while earning rewards. These roles leverage $MACRO for voting, speculation, and yield generation.

Holders

Holders are passive participants who bet on the overall growth of the Macro ecosystem.

• Key Function: Speculate on ecosystem expansion, including TVL growth, asset integrations, and Base chain adoption.

• Incentives: Benefit from potential price appreciation driven by protocol success.

• Mechanics: Hold and indirectly benefit from platform revenues and buybacks

• Benefits to Ecosystem: Long-term holding reduces sell pressure, allowing the protocol to mature and integrate with Coinbase's on-chain initiatives.

Voters (COMING SOON)

• Key Function: Vote on rebates on selected lending markets. This democratizes decision-making, allowing the community to prioritize high-demand assets.

• Incentives: Earn voting rewards from bribes from other protocols for rebates.

• Mechanics: Votes are submitted via on-chain voting tools. Voting power scales with additional tickets.

• Benefits to Ecosystem: Rebates attract more borrowers, increasing TVL (Total Value Locked) and generating higher revenues for redistribution.

Stakers

Stakers commit $MACRO to the protocol to earn a share of platform revenues.

• Key Function: Speculate on Macro's revenue growth by staking tokens, providing liquidity and stability to the ecosystem.

• Incentives: Receive a portion of lending fees, borrow interest, and other protocol earnings.

• Mechanics: Stake $MACRO to receive sMACRO. This receives variable APYs based on platform utilization and revenues.

• Benefits to Ecosystem: Staking locks supply, reducing circulating tokens and supporting price stability.

Lenders

Lenders supply assets to Macro's markets to earn yields.

• Key Function: Provide liquidity for borrowable assets like $TOSHI or $KTA, earning interest from borrowers.

• Incentives: Competitive APYs from borrow demand, plus $MACRO rewards for supplying to promoted markets (e.g., via voter-approved rebates).

• Mechanics: Deposit assets into Morpho-optimized vaults for efficient matching. Lenders can withdraw anytime, subject to utilization rates.

• Benefits to Ecosystem: Increases available liquidity, enabling more borrowing and driving protocol fees.

Borrowers

Borrowers use Macro to access leverage without selling assets.

• Key Function: Leverage holdings without selling or optimizing yield strategy (e.g., looping strategies).

• Incentives: Lower interest rates through weekly rebates, plus potential $MACRO airdrops for high-volume users.

• Mechanics: Collateralize assets to borrow stables or other tokens. Over-collateralization ensures safety, with liquidation protections via Morpho.

• Benefits to Ecosystem: Boosts utilization rates, generating fees that flow back to stakers and voters.

Economic Mechanisms

• Rebates: Governed by voters, with MACRO ticket holders earning from the rebates, stimulating both borrowing and TVL growth.

• Revenue Sharing: Platform fees and revenues are redistributed to stakers and voters.

• Risk Management: Insurance funds and DIA oracles integration mitigate risks in lending/borrowing.

Future Outlook

Macro's tokenomics are engineered for scalability, with potential expansions such as cross-chain integrations or new asset markets. As Base grows, $MACRO holders stand to benefit from increased adoption. Community feedback will shape updates, ensuring alignment with user needs.