GROVE Token
GROVE is the native token of the Grove protocol, deployed as an ERC-20 token on Ethereum with a total supply of 10 billion tokens. Built with a focus on long-term sustainability, decentralization, and ecosystem alignment, GROVE is designed to facilitate coordination, participation and access within Grove's ecosystem.
70% of the supply is allocated to the Sky ecosystem and 30% to the Grove ecosystem.
The design and activation of token functionality may evolve over time and are subject to governance decisions and regulatory considerations.
Governance
GROVE may be used to participate in governance processes, including signaling and sentiment checks through community voting. More information regarding participating in Grove governance coming soon.
Staking
GROVE may be staked, and in the future, staked GROVE may be used to activate participation and access to protocol-related functions within the Grove ecosystem. More information regarding Grove staking coming soon.
Token Contract
Contract: SDAO
The GROVE token is deployed using the SDAO contract from the Sky Endgame Toolkit — an ERC-20 token with role-based access control, EIP-2612 permit support, and administrative functions for updating token metadata.
- Token Name: Grove
- Token Symbol: GROVE
- Token Address:
0xB30FE1Cf884B48a22a50D22a9282004F2c5E9406 - Total Supply: 10,000,000,000 GROVE
- Decimals: 18
Audits
The GROVE token contract has been audited as part of the Sky Endgame Toolkit:
Token Distribution
10,000,000,000 GROVE tokens were minted at genesis. 70% of the GROVE tokens were allocated to the Sky ecosystem, with the remaining 30% allocated to the Grove ecosystem. The initial GROVE supply is allocated as follows:
| Category | Allocation | Token Amount | Address |
|---|---|---|---|
| Sky Farms | 70% | 7,000,000,000 GROVE | 0xBE8E3e3618f7474F8cB1d074A26afFef007E98FB |
| Grove Labs | 25% | 2,500,000,000 GROVE | 0x1EBC4425B16FD76F01f9260d8bfFE0c2C6ecCe70 |
| Grove Foundation | 5% | 500,000,000 GROVE | 0x1369f7b2b38c76B6478c0f0E66D94923421891Ba |
After initialization, the GROVE token contract (SDAO) has only MCD_PAUSE_PROXY as its authorized admin, meaning only Sky governance can authorize administrative actions on the token contract.
Sky Farming
GROVE is distributed through the Sky token farming mechanism. Participants can stake USDS or SKY through Sky's farms to accumulate GROVE tokens. The distribution schedule, as defined by Sky, is currently as follows:
| Yearly Amount of GROVE | Total Amount of GROVE | |
|---|---|---|
| Year 1 | 1,750,000,000 | 1,750,000,000 |
| Year 2 | 1,750,000,000 | 3,500,000,000 |
| Year 3 | 875,000,000 | 4,375,000,000 |
| Year 4 | 875,000,000 | 5,250,000,000 |
| Year 5 | 437,500,000 | 5,687,500,000 |
| Year 6 | 437,500,000 | 6,125,000,000 |
| Year 7 | 218,750,000 | 6,343,750,000 |
| Year 8 | 218,750,000 | 6,562,500,000 |
| Year 9 | 218,750,000 | 6,781,250,000 |
| Year 10 | 218,750,000 | 7,000,000,000 |