$TOKE
Powering the Tokemak protocol: $TOKE token directs available liquidity on the platform, making it an essential element of the protocol.
Value accrual: $TOKE token accrues value generated by the protocol, such as fees and rewards, providing an incentive for users to hold it.
Governance: $TOKE token holders can vote on which token reactors can launch on the protocol, providing a decentralized way to govern the platform.

Liquidity Direction:
Traders and liquidity providers buy and hold $TOKE to direct and secure liquidity in a sustainable way on the Tokemak protocol, driving demand for the token.

Liquidity Volume:
Increased liquidity on the platform drives demand for $TOKE as more liquidity can be directed, increasing the capital efficiency of the protocol.

The Tokemak protocol creates value for a myriad of parties. For protocols/DAOs wanting to secure liquidity, it allows them to do so sustainably and capital-efficiently and earn a yield on their treasury assets; for liquidity providers, it allows them to provide single-sided liquidity, i.e., no impermanent loss; and for $TOKE holders through governance (over which token reactor can set up shop).

The Tokemak protocol captures value by taking 100% of the trading fees generated by deployed liquidity. Apart from that, the protocol also captures value by generating a yield on the assets held in the treasury. 

The business model for Tokemak Protocol:

Revenue comes from: 
Trading fees generated by liquidity pairs

Revenue is denominated in: 
Whatever protocol owned liquidity (PoL) assets are being used to generate fees

Revenue goes to: 
Protocol treasury, which earns a yield on underlying assets, and is used to provide liquidity to the platform when sufficiently large. Protocol takes 100% of trading fees.