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 |
Last updated