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

# Tokenomics

How we're structuring our Token to reward and incentivize our community.

{% hint style="warning" %}
The content below is WIP. \
Submit to change based on discussions, votes, and approval from the DAO.
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Even though we've structured a sophisticated economic model for the project, the platform, and our governing token, our vision is to share it and validate it with our founding members before finalizing it under a sharable whitepaper.

## Main goals of the Token:

* Create a decentralized organization that improves the LOP system based on user demands. 
* Encourage and Incentivize developers to contribute to the development of LOP. 
* Establish an LOP token economy that encourages community engagement. 
* Recruit developers in various jurisdictions all over the world to expand the LOP protocol. 

## Main Tokenomics attributes of the project:

* ERC20 Smart Contract
* Two categories of Tokens:

{% tabs %}
{% tab title="Codename LOP" %}
For community members:

* Redeemable for USDC 1:1 
* Voting rights 1:1 
* Minted each time USDC is deposited into the DAO Treasury through investment or lottery ticket (NFT) sale. 
* Can be minted to Players as Rewards & to Pay Commissions. 
* Backed by USDC commissions & by USDC deposited from purchasers of vLOP. 
  {% endtab %}

{% tab title="Codename vLOP" %}
For founders and investors:

* Non-Redeemable for USDC 
* Voting rights 1:1 
* Minted 1:1 when USDC is deposited in the DAO Treasury. 
  {% endtab %}
  {% endtabs %}

## Redemption Interface 

This webpage will make it easy for LOP token holders to swap their LOP for USDC 

Features:

* A web page that’s easily accessible on the LOP website 
* A UI to swap LOP for USDC. 
* A configuration to set various redemption criteria for limiting redemptions. 
* The total number of redeemable LOP tokens in existence and the total amount of USDC in the DAO are always visible.