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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