SNOB is our governance token. You can use SNOB to provide liquidity on Snowball's many pools, or you may stake your SNOB to gain xSNOB, which can be used to vote on community proposals and gauge allocations, as well as pool reward boosting and gaining a percentage of protocol revenue.
Snowball takes a 10% performance fee on pool reward profits for providing the auto-compounding service on top of your rewards. These fees cover the gas costs of auto-compounding as well as funding further development of Snowball.
Snowball was launched pseudonymously by @AbominableSas, @big_wampa, and @8_bitgiraffe. However, Snowball quickly transitioned into a community-driven project. Anyone who wants to see Snowball succeed can participate in its development and improvement by volunteering their time and work to the project and be compensated for doing so.
We chose a pseudonymous launch for two main reasons; First, personal information is an excellent attack vector for hackers to try and phish for passwords, keys, etc. Second, we believe in promoting a decentralized, permission-less, and international community. Remaining anonymous allows people to participate regardless of status, nationality, background, or income.