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