Tokenomics
Last updated
Last updated
Total supply of 1 billion 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