SolanaSail (SAIL)

What is it?

SAIL is the governance token of AdmiralDAO, which stewards a fleet of DeFi products including Clipper, its flagship decentralized exchange (DEX) tailored to the needs of specific traders and communities. SAIL token holders are empowered to participate in the governance of AdmiralDAO by submitting and voting on proposals, which are part of a structured governance process.

AdmiralDAO is a decentralized autonomous organization (DAO) aimed at empowering individuals to trade in free and fair markets. Through its fleet of DeFi products, it serves a variety of DeFi users by offering specialized products and services. The DAO oversees custom-built DEXs and allows community members to actively engage in governance, thereby driving progress within the DeFi space. The governance process is structured in five phases - Proposal & Discussion, Temperature Check Vote, Snapshot Vote, Waiting Period, and Implementation, ensuring a systematic approach to decision-making within the DAO​.

What is it used for?

The primary use of SAIL is to facilitate governance within AdmiralDAO. Token holders can submit proposals, participate in discussions, and vote on proposals in different phases of the governance process. The governance process aims to ensure a decentralized and community-driven approach to decision-making, allowing for a fair and transparent system of governance. Moreover, the quadratic voting model used in on-chain voting aims to even the distribution of voting power, reducing the influence of whales in decision-making​.

Who created it?

The project is stewarded by Shipyard Software, with Mark Lurie identified as the CEO and Co-founder.