# $MNTI Token

Illuminati DAO ($MNTI) token serves as a governance token for the protocol. $MNTI stakers will receive 100% of the fees generated by the protocol

The $WBNB token is deposited into the protocol when a user mints $WBNBX token, while the $MNTI token which is used for minting is burned.

When the user redeems $WBNBX tokens, the protocol pays back $WBNB tokens and mints the required amount of $MNTI tokens.

The ratio of $WBNB and $MNTI tokens used by the minting and redeeming function of the Illuminati DAO is determined by the Collateral Ratio. These mechanisms are described with examples in more details in the next pages of our documentation.

Minting and redeeming synths on the platform incurs a 0.5% and 1% fee respectively. Locked stakers on the platform will receive these fees in the form of $WBNB and $MNTI. Locked stakers will also earn 50% of the penalty fee charged to farmers that claim rewards early.

> There is natural demand for $MNTI since the protocol requires its synths to be backed partially by the native token. New synths that are rolled out will all use $MNTI for part of the collateral.

$MNTI will always be a key ingredient in minting synthetic tokens. Also token will be used in building trade links with tokens of other DeFi projects.

$MNTI tokenomics (significant portion used for liquidity mining):

<table data-view="cards"><thead><tr><th></th><th></th><th></th></tr></thead><tbody><tr><td><strong>Network</strong></td><td>BSC</td><td></td></tr><tr><td><strong>Total Supply</strong></td><td>5,000,000 $MNTI</td><td></td></tr><tr><td><strong>LP Pair</strong></td><td>MNTI/WBNB</td><td></td></tr><tr><td><strong>Total Raise</strong></td><td>655 BNB (~ $200k)</td><td></td></tr><tr><td><strong>Launch &#x26; Presale Price</strong></td><td>0.00131 BNB</td><td></td></tr><tr><td><strong>Initial Marketcap</strong></td><td>886.98 BNB (~ $271k)</td><td></td></tr></tbody></table>

| **Category**      | **Amount**      | **Vesting Period** |
| ----------------- | --------------- | ------------------ |
| LP Farming        | 3,250,000 (65%) | 2 years            |
| Ecosystem         | 750,000 (15%)   | 2 years            |
| Dev Fund          | 250,000 (5%)    | 2 years            |
| Public Sale       | 500,000 (10%)   | ​100% on Listing   |
| Initial Liquidity | 250,000 (5%)    | ​                  |


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