โ๏ธPHIAT Protocol Tokenomics
Last updated
Last updated
$PHIAT is the platform's utility and governance token. The goal of the tokenomics is to incentivise the protocol's supporters and help long term growth of the community.
$PHIAT token has a fixed supply of 55,555,000.
$PHIAT token holders essentially hold the voting power of the protocol governance.
$PHIAT token has an additional staking function with below main features:
$PHIAT staking will be implemented as PHIAT protocol launches on mainnet.
The Interest paid by borrowers are classified as the platform fees
50% of the platform fees goes to lenders
50% of the platform fees (net fees) will be distributed to $PHIAT stakers:
All $PHIAT tokens are classified as stakable tokens, including:
Community share: 65%, fully circulating^.
Core team: 18%, locked for 12 months with a 10 months linear unlocking period. (please note locked team tokens can be staked and unstaked, but not sold or moved.)
Treasury: 10%, with target emission period of 24 months, given out to the community in the form of extra rewards.
OA and contributors: 7%, immediately unlocked, fully circulating
The $PHIAT token supply is distributed for the protocol to be owned fully decentralized
Rules of fee distribution:
If 100% of the tokens are staked, then 100% of the net fees will be distributed to the $phiat stakers, in the native currencies.
If x% of the tokens are not staked, then x% of the net fees will be distributed to the protocol treasury.
IMPORTANT: A 14-day cooldown period must be undergone prior to withdrawing your staked tokens. The unstaking process can be initiated by navigating to the staking tab, selecting 'unstake' and confirming with a single transaction. After initiating the cooldown, a 7-day withdrawal window will become available. Failure to withdraw during this period will necessitate repeating the cooldown process.
Rewards claim: You may access and retrieve your earned rewards anytime through the staking section by clicking the "Claim" button. The tokens obtained from the reward will promptly be transferred to your linked wallet once the transaction is validated.
Treasury operations will be openly discussed, transparently disclosed and potentially encoded in smart contracts.
^ Both Community and Contributors will have all their allocated tokens available before/from platform launch day, and 100% freely tradable.