> For the complete documentation index, see [llms.txt](https://general-5.gitbook.io/voovoo-club/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://general-5.gitbook.io/voovoo-club/phase-ii/usdvoovoo.md).

# $VOOVOO

**`$VOOVOO`** is a utility token that acts as a reward for loyal holders and the driving force behind the vOOvOO Club and Hang OOut Social Platform. 

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For more information of Hang OOut, please visit [HERE](https://general-5.gitbook.io/hang-oout)
{% endhint %}

![$VOOVOO](/files/p4C6iAJ0v1FoTwshidsT)

**`$VOOVOO`** is earned through staking your NFTs and community events and can be spent to attend IRL events and metaverse parties, purchase merchandise, enter raffles, qualify for "Mask-off" in Phase III and more

**1 $VOOVOO = 1 $VOOVOO**

## Token Distribution

![](/files/nRjQm6UrcbXxntaITRYX)

**Team – 20%**

Reserved pool for future development of the project, and potential Liquidity Pool if we are going to list $VOOVOO on DEX platforms in the future.

**Staking – 30%**

Earned by staking your Lil vOOs into the club house on a daily basis. Generation rates depend on the rarity of your Lil vOO. To learn more about the rates, please visit [Membership Program](/voovoo-club/introduction/membership-program.md)

**Community Events – 25%**

Rewards the holders through community events for meaningful engagement, solid contribution, events participation and more.

**Hang OOut – 12.5%**

Reserved for kick starting member initiated projects and events for the benefit of the whole community and our ecosystem.

**Partnership – 12.5%**

Distributed to future partnership with established service providers/platforms/brands to help vOOvOO Club continue to grow. Also for onboarding projects/DAOs to Hang OOut Social Platform.  

## **Token Usage**

1. Purchasing tickets to our Raffle;
2. Purchasing tickets to IRL/online events on Hang OOut Social Platform, either hosted by us, our partners or other holders;
3.  Mint Future vOOvOO Club Collections;
4.  Unlock benefits and entry pass to incubator programs within the community;
5.  Represent voting power and governance in the community.

### **Notes**

**Lockup period: 2 years.** 

All **`$VOOVOO`** reserved by the team will be unlocked linearly over the period of 2 years

All **`$VOOVOO`** reserved for staking will be released to holders over the period of 2 years.

%Token owned = **`$VOOVOO`** owned/ **`$VOOVOO`** released, represents your voting power of all future development of vOOvOO Club.