Introduction

The world of decentralized finance (DeFi) is continually evolving, and Snowball is one of the most exciting projects on the Avalanche blockchain aimed at enhancing this space. Snowball offers a suite of products such as auto-compounding services for liquidity pools and a robust automated market maker (AMM) for stable assets. At the heart of Snowball is its governance token, SNOB, a vital component for voting on crucial proposals that shape the future of the platform. With an active community-driven approach and the goal to become a leading DeFi project on Avalanche, Snowball is poised to make waves in the cryptocurrency landscape. Dive in to discover what sets Snowball apart and why SNOB is more than just a token.

What is SNOB?

SNOB is the governance token for the Snowball protocol. It can be used in conjunction with Snowball Governance to vote on proposals. Tokens are minted through mining as incentive rewards for participating in Snowball. This governance mechanism ensures that the community has a say in the protocol's future, making it a truly decentralized project.

How to Obtain SNOB?

SNOB can be acquired by providing liquidity on the Snowball platform and then staking that liquidity. Additionally, SNOB can be purchased from various exchanges such as Pangolin. This dual approach of earning and purchasing SNOB makes it accessible to a wide range of users, from liquidity providers to casual investors.

What is Snowball?

Snowball is a decentralized protocol on Avalanche that offers a suite of products. We provide auto-compounding services for liquidity pools on Pangolin and act as an automated market maker (AMM) for stable assets. Our goal is to become one of the premier DeFi projects on Avalanche by offering a diversity of products that are competitive and useful. Snowball's unique offerings make it a versatile platform for various DeFi activities, from yield farming to stablecoin trading.

Who Runs Snowball?

Snowball is entirely community-run and is not backed by any centralized institution. Day-to-day operations of the organization are handled by a core team. However, this team is non-exclusive, and anyone who shows an active interest in Snowball can participate. Major protocol decisions are determined by the community using Snowball Governance. Anyone with SNOB can use their tokens to vote on crucial governance decisions that directly affect the protocol. This community-driven approach ensures that Snowball remains aligned with the interests of its users.

Tokenomics and Distribution Model

The Snowball crypto token, SNOB, has a total token supply of 18,000,000 tokens, with 5,492,416 tokens currently in circulation. The token distribution started on block 443700, around March 3rd, 2021, with tokens minted through mining as incentive rewards for participating in Snowball. The tokenomics of SNOB include a 10% fee on rewards received as a liquidity provider (LP), which are reinvested into the token deposited. The fully diluted valuation (FDV) of Snowball (SNOB) is BTC4.4606, representing the maximum market cap if all 18 million tokens were in circulation today. Snowball is a community-run organization on the Avalanche blockchain, providing various community-run services and products.

Token Distribution Model

1. Team: The whitepaper does not provide specific details about the percentage of tokens allocated to the team. However, it is mentioned that the vast majority of Snowball's core team comes from within the Avalanche community, and all governance tasks are placed on-chain with no team member owning a disproportional amount of voting power.
2. Investors: The whitepaper does not provide specific details about the percentage of tokens allocated to investors. However, it is mentioned that Snowball has raised over $1.1M from investors including Republic.co.
3. Community: The Snowball platform allows users to stake SNOB to obtain xSNOB, which gives access to revenue sharing, reward boosting, and voting. By joining Snowball's ventures, users receive a portion of all of Snowball’s revenue through xSNOB.
4. Other Stakeholders: The Snowball platform also includes partnerships with other projects and platforms, such as Monarch Wallet, Artsquare.io, and Andra Capital. These partnerships allow for integration and collaboration between Snowball and other players in the DeFi and cryptocurrency space.

Vesting Periods and Lock-Ups

The Snowball crypto token (SNOB) is a governance token for the Snowball platform, which is a DeFi protocol running on the Avalanche blockchain. The total max supply of SNOB tokens is 18,000,000, which are distributed as follows:

• 20% SNOB tokens for developers and Snowball Treasury will be gradually released for two years.
• 20% SNOB tokens for the Snowball team and early backers, with a vesting period of two years.
• 20% SNOB tokens for the Snowball ecosystem fund, which will be used for partnerships, grants, and other initiatives to grow the Snowball ecosystem.
• 40% SNOB tokens for liquidity providers and participants in the Snowball platform, which are rewarded through incentive programs.

SNOB tokens are minted through mining as incentive rewards for participating in Snowball. They can be acquired by providing liquidity on the Snowball platform, and each block, a predetermined amount of SNOB is distributed and sent to Snowball users. Additionally, SNOB can be purchased from various exchanges such as Pangolin.

Emission Schedule

The emission schedule for SNOB tokens is described as follows:

• Year 1: 40% of the total supply (7,200,000 SNOB)
• Year 2: 30% of the total supply (5,400,000 SNOB)
• Year 3: 20% of the total supply (3,600,000 SNOB)
• Year 4: 10% of the total supply (1,800,000 SNOB)

Mechanisms to Control Inflation

To control inflation, Snowball has implemented a token burning mechanism. When users deposit their liquidity provider (LP) tokens into the SnowGlobe with the same token as they deposited, they receive S tokens, equivalent to the token pair they deposited. The rewards users receive as a LP are reinvested into the token they deposited. Snowball takes a 10% fee of the rewards users receive as a LP, which is used for token burning and compounding multiple times per day, depending on the pool size.

Additionally, Snowball has a staking rewards mechanism. Users can lock their SNOB tokens to obtain xSNOB, which gives access to revenue sharing, reward boosting, and voting. The staking rewards mechanism incentivizes long-term holding and participation in the Snowball ecosystem, further controlling inflation.

The Team Behind Snowball

The Snowball crypto token is backed by a team of experienced professionals with diverse backgrounds and expertise in various fields, including blockchain, finance, marketing, and software engineering. Here are some of the core team members behind Snowball:

1. Parul Gujral - Founder and CEO of Snowball Money, Parul is a seasoned entrepreneur with a background in engineering and business. He has served as VP at Engineer.ai and has been an advisor to several companies, including