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.