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removing specific mentions of staking and restaking (#502)
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* removing specific mentions of staking and restaking for the Obol token, as requested by Toma

* putting it in present tense

* adding typo

* adding contract and supply info

* Update docs/gov/governance/obol-token.md

Co-authored-by: Cryptoma <107747791+thomasheremans@users.noreply.github.com>

* Update docs/gov/governance/obol-token.md

Co-authored-by: Cryptoma <107747791+thomasheremans@users.noreply.github.com>

---------

Co-authored-by: “Max <“max@obol.tech”>
Co-authored-by: Cryptoma <107747791+thomasheremans@users.noreply.github.com>
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20 changes: 11 additions & 9 deletions docs/gov/governance/obol-token.md
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Expand Up @@ -5,20 +5,22 @@ description: The OBOL Token

# The OBOL Token

The OBOL Token is central to the governance and operation of the Obol Collective. It serves multiple purposes that are essential to its functioning.
The OBOL Token is central to the governance and operation of the Obol Collective. It serves multiple purposes that are essential to its functioning.

### Token Contract

The official token contract address of the OBOL Token is [0x0B010000b7624eb9B3DfBC279673C76E9D29D5F7](https://etherscan.io/address/0x0B010000b7624eb9B3DfBC279673C76E9D29D5F7).

### Token Supply

The total supply is capped at 500 million tokens. The full supply is not immediately circulating and tokens will unlock over the coming months and years. Please see the [airdrop announcement](http://blog.obol.org/airdrop/) for more details.

### Token Utility

1. **Token Governance:** OBOL Token holders delegate their voting power to delegates who participate in the Token House decision-making processes. This includes voting on proposals affecting the Obol Collective’s direction, upgrades, and funding allocations. Read more about the Token House [here](./token-house.md).

2. **Obol Retroactive Funding (RAF):** Token holders delegate their voting power to Delegates, who vote on the projects eligible for retroactive funding. Read more about the Obol RAF [here](./raf.md).

3. **Staking**: Plans are in place to build staking for the OBOL Token using the Tally Protocol, similar to UNI Token staking for the Unichain and ARB Token staking. Activation of staking for the OBOL Token is subject to governance approval.
1. Staking OBOL Tokens through Tally’s staking module wraps them into a yield-bearing token, stOBOL, preserving governance rights while enabling use in DeFi. In this case, the yield comes from two sources: **token inflation** (new OBOL tokens issued by the protocol while maintaining the 500M cap) and **protocol revenue**. This incentivises using the staking mechanism while ensuring that governance power is retained. Read more on the Tally Protocol [here](https://tally.mirror.xyz/Drw-uvqhUnJLRxg32sV-sqKZ785-AO85FBaCYeXqxhA).
2. Delegates who actively participate in governance can receive a **portion of the staking yield** as payment for their service. This creates a system where both individual stakers and governance delegates are rewarded, aligning incentives for robust participation.

4. **Restaking**: Plans are in place to list the OBOL Token on restaking platform such as Eigenlayer and Symbiotic to allow AVSs and the Obol Collective to leverage the security provided by restaked OBOL Tokens.
1. Restaking takes the stOBOL Tokens from Tally’s staking module described above and uses them in additional protocols, such as Symbiotic or EigenLayer. The yield here is protocol-specific, often derived from fees, rewards, or staking incentives within those secondary protocols. However, restaking introduces added risk, such as slashing, if the protocol’s conditions aren’t met, whereas staking does not have these risks.
2. Activation of restaking for the stOBOL Token is subject to governance (both on the Obol Collective side but also the restaking platform, if relevant)
3. **DeFi:** Plans are in place to launch several DeFi avenues for the OBOL Token post-TGE, such as liquidity pools and lending protocols.

5. **DeFi:** Plans are in place to launch several DeFi avenues for the OBOL Token post-TGE, such as liquidity pools and lending protocols.
4. **More Utility Coming Soon:** Via governance proposals, the Obol community can add more functionality to the OBOL Token, for example a staking program, or integration with other staking or restaking applications.

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