> For the complete documentation index, see [llms.txt](https://docs.clipper.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.clipper.exchange/~/changes/Pe3DAbObJ7vk3hibsPW0/governance-token/sail-utility-and-staking.md).

# SAIL Utility & Staking

SAIL is for Governance

**Staking** 

The DAO has voted to distribute the DAO Protocol fees (ETH/WBTC/USD) as "Real Yield" to those who stake SAIL to participate in voting and governance (similar to xSushi or veCRV tokens).

The staking contracts are currently under development. To suggest specific mechanics (e.g. vesting) join the [Alpha for SAIL hodlers channel on Discord](https://discord.com/channels/844729067311202334/1146906618030735370) (you must first acquire SAIL for access) in the [Discord](https://discord.gg/pWRVB6br). To receive updates, follow on [Twitter](https://twitter.com/Clipper_DEX).

**Related Information:**

* For information on Protocol Fees, see:
  * How [Clipper generates Protocol Fees](https://docs.clipper.exchange/how-to-use-clipper/how-lp-returns-work/dao-fees) (it captures excess returns above the benchmark).
  * View Protocol Fees on [TokenTerminal](https://tokenterminal.com/terminal/projects/clipper/financial-statement).
  * The magnitude of the opportunity: See [Projecting Protocol Fees](https://blog.clipper.exchange/dao-protocol-fees/) (and if you believe volumes matter more, here’s how to [Projecting Volumes](https://blog.clipper.exchange/tam-maximizing-volumes/)).
  * DEX traction: [Clipper DEX performance ](https://dune.com/shipyard_software/clipper-official)
  * Positive organic returns for LPs: [Data](https://clipper.exchange/data) and [Benchmark Performance](https://clipper.exchange/data/benchmark)

**SAIL and US Securities Regulation**

* AdmiralDAO studied the US regulatory landscape at issuance explained its analysis in [a recent blog post.](https://www.admiraldao.xyz/blog/sail-securities-law)
* Following the airdrop, the Community proposed staking in the following proposal: [AP: A Staking Program for Distribution of Clipper Revenues](https://snapshot.org/#/theadmiraldao.eth/proposal/0xa17214a8d24a40145a7086c5e23e783b3017a07327aa0544562264f8a8a41005). Please note the provisions related to legal review therein.