# REFI Token

The Regenerative Finance Token ($REFI) is the network ownership token. It provides holders with governance over the treasury, protocol direction, and incentive allocation.

## Business Model

For each regenerative product (starting with USDREFI), revenue generated must exceed operational costs plus $REFI incentives. Margins support future regeneration per holder decisions.

## Distribution

| Allocation              | Share |
| ----------------------- | ----- |
| Treasury & Public Goods | 50%   |
| ReFi Foundation         | 15%   |
| Team & Advisors         | 15%   |
| Strategic Partners      | 15%   |
| Airdrops                | 5%    |

## Utility

**Ownership** — $REFI holders collectively own protocol-owned liquidity and the treasury.

**Priority access** — Holders get early access to regenerative-aligned products launched by the protocol.

## Role in USDREFI

$REFI plays two roles in the USDREFI system:

1. **Holder rewards** — Distributed alongside USDREFI yield via Merkl campaigns, giving depositors exposure to protocol upside
2. **LP incentives** — Distributed to Uniswap pool liquidity providers to maintain exit liquidity depth