# DEPO Token

The DEPO Token (**DEPO**) is DePocket platform's utility token, has the following purposes:

* **Feature unlock:** DePocket shall provide most of the free-of-charge functions to all users. However, some premium functions are only offered to DEPO holders. This drives the purchase and maintenance of the long-term token DEPO. 
* **Governance:** DEPO holders may join the decision-making on platform functions such as which DeFi apps are supported by the voting tool. 
* **Staking and Liquidity Reward:** DEPO holders may lock their tokens or become liquidity providers on decentralized platforms such as Pancakeswap or Bakeryswap to acquire more tokens.
* **Payment:** Developers need to pay in DEPO token for each API call when using DePocket’s on-chain API. Premium DeFi utilities, such as Yield Aggregators, also charge DEPO tokens as a usage fee.

*20% of fees are used to perform market buy-backs and these DEPO are burnt out of supply forever. This effectively reduces token supply over time, increasing the value of the DEPO token in long-term.*

![](https://1905816654-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-McFTZdJI3Qlu5eu3SjP%2F-MgVJI9W8gBooY1cwePD%2F-MgVJlZUGW92ils5JkXt%2FDepo-token.png?alt=media\&token=bfa41374-f695-4070-bfce-5fdf8fe038fa)

## Token overview

| Ticker           | DEPO                                                                                                                           |
| ---------------- | ------------------------------------------------------------------------------------------------------------------------------ |
| Blockchain       | Binance Smart Chain                                                                                                            |
| Token Standard   | BEP20                                                                                                                          |
| Maximum supply   | 21,000,000 DEPO                                                                                                                |
| Contract Address | BSC: [0x7d99eda556388Ad7743A1B658b9C4FC67D7A9d74](https://bscscan.com/address/0x7d99eda556388Ad7743A1B658b9C4FC67D7A9d74#code) |