Tokenomics
Total supply of 1 billion Phemex Tokens will be issued as ERC20 tokens on the Ethereum blockchain. They represent ownership stake in the Phemex platform and grant various utility benefits.
Allocation
Percentage
Tokens
Schedule
xPT Pre-mining
10%
100,000,000
25% unlock at TGE, remaining 75% distributed weekly for three weeks after TGE. Unclaimed supply added to DAO Treasury.
Collaborator Program
5%
50,000,000
50% unlock at TGE, 6-month vesting for remainder. Unclaimed supply added to DAO Treasury after TGE.
Strategic Investors
20%
200,000,000
2 years cliff, then 5 year quarterly vesting
Ecosystem Fund (DAO Treasury)
15%
150,000,000
Reserved for DAO Treasury
Trading Rewards (DAO Treasury)
12.5%
125,000,000
5 year linear distribution after TGE
Liquidity Provider Rewards (DAO Treasury)
12.5%
125,000,000
5 million tokens unlock at TGE for lending protocol insurance pool. Remaining 120 million tokens subject to 5 year linear distribution
Operations & Marketing
10%
100,000,000
20% unlock at TGE, 5-year monthly vesting thereafter
Core Builders
15%
150,000,000
1 year cliff, then 4 year monthly vesting
The Phemex Token may take three forms, each with distinguishing characteristics. A brief description and breakdown can be found below, with further expansion in subsequent sections.
xPT - Metadata on the Phemex Soul Pass; automatic 1:1 conversion to PT during TGE
PT - On-chain, transferable ERC20 platform token
vePT - On-chain, non-transferable governance token on the Optimism (OP) network
Token
Summary
Usability
Relationship
Differences
Total Supply
xPT
Pre-mint token
Convert to PT on 1:1 basis during TGE
Automatically converts to PT
Metadata on Phemex Soul Pass
Converted to PT at TGE in Q3 2023
PT
Transferable utility token
Staking, trading, liquidity provision
10% of supply converted from xPT, can be staked for vePT
ERC20 token, transferable on the open market
1 Billion
vePT
Vote escrow governance token
DAO governance & voting, staking yield, trading rewards, other benefits
Obtained by staking PT for a specific time (minimum 1 month, maximum 2 years)
ERC20 token, non-transferable
Based on amount of staked PT tokens
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