🪙Tokens and Utility
Pi Staking: Token Utility and Structure with stPLS and PPY Tokens
stPLS
The Liquid Staking Token
Upon depositing PLS into the Pi Staking deposit pool, users receive a synthetic derivative token called stPLS. This token represents the staker’s deposit plus accumulated rewards over time, offering liquidity similar to PLS. Users can:
Hold stPLS to accrue staking rewards.
Sell stPLS for liquidity or trade.
Use stPLS in DeFi applications such as Liquid Loans and POWERCITY to earn additional yield.
If excess PLS is available in the deposit pool, users can exchange stPLS back for PLS, which effectively burns the stPLS and withdraws PLS from the pool. Alternatively, stPLS can be traded for other tokens on participating protocols.
PPY
The Protocol Token
Project Pi Yield (PPY) is a PRC20 token that serves as the backbone of the Pi Staking protocol. Node Operators use PPY to launch Pi Pools – complete PulseChain validator nodes paired with liquid staking funds for as low as 16,000,000 PLS.
Node Operators must stake a minimum amount of PPY as a guarantee of good behavior. Initially, this minimum is set at 25%(USD amount) of the 16M PLS stake but can be as high as 150%(USD amount). The more PPY staked, the greater the monthly PPY rewards. These rewards can be reinvested to launch new validator nodes or request PLS delegation from liquid stakers onto existing Pi Pools.
Should a Node Operator perform poorly, resulting in a loss of rewards, PPY staked as insurance will compensate the stakers. This mechanism distributes the risk of pairing with under-performing operators and minimizes potential losses. Slashed PPY can be sold at a discounted rate, with the proceeds in PLS going to liquid stakers.
PPY holders are also integral to the Pi DAO, allowing them to propose and vote on various governance matters like inflation schedules, community rewards, and protocol adjustments.
PPY Distribution Details
| Allocation | PPY Qty | % | Vesting |
|---|---|---|---|
Ecosystem Development | 31,124,400 | 9.91% | 10% unlocked at TGE then 10% monthly over 9 months |
Early Staking Incentives | 9,859,600 | 3.14% | 100% unlocked at launch |
Initial Liquidity | 8,000,000 | 2.55% | 100% unlocked at TGE |
PPY Staking Rewards | 98,596,000 | 31.4% | Released via inflation on a monthly basis |
Development | 31,400,000 | 10% | Fully locked in first 3 months then 10% unlocked every 3 months over 30 months |
CEX Liquidity | 6,000,000 | 1.91% | 100% unlocked at TGE + 1 months |
Team | 33,100,000 | 10.54% | Fully locked in the 6 months then 5% released monthly over 20 months |
Marketing | 25,120,000 | 8% | 20% unlocked at TGE then 20% unlocked quarterly |
Airdrop | 8,000,000 | 2.55% | 100% unlocked at TGE + 2 months |
Fundraising | 62,800,000 | 20% | See allocation schedule |
Max Supply | 314,000,000 | 100% | PPY |
Fundraising
Allocation | PPY Qty | Price | Vesting |
Seed | 25,000,000 | $0.01 | 10% unlocked at TGE, 9 months daily vesting |
Partnerships | 5,000,000 | $0.02 | 20% unlocked at TGE, 6 months daily vesting |
Private | 24,800,000 | $0.025 | 20% unlocked at TGE, 9 months daily vesting |
Public | 8,000,000 | $0.03 | 100% unlocked at listing |
Total | 62,800,000 | PPY | Liquidity listing price TBD |
Initial Circulating Supply
| Allocation | At TGE | TGE + 1Mo | TGE + 2Mo | TGE + 3Mo |
|---|---|---|---|---|
Ecosystem Development | 3,112,440 | 6,224,880 | 9,337,320 | 12,449,760 |
Early Staking Incentives | 9,859,600 | 9,895,600 | 9,859,600 | 9,859,600 |
PPY Staking Rewards | 2,054,083.33 | 4,108,166.66 | 6,162,249.99 | 8,216,333.32 |
Development | 0 | 0 | 0 | 0 |
Team | 0 | 0 | 0 | 0 |
Marketing | 5,024,000 | 10,048,000 | 20,096,000 | 25,120,000 |
Airdrop | 0 | 0 | 8,000,000 | 8,000,000 |
CEX Liquidity | 0 | 6,000,000 | 6,000,000 | 6,000,000 |
Initial Liquidity | 8,000,000 | 8,000,000 | 8,000,000 | 8,000,000 |
Total Circulating at TGE | 28,050,123.33 PPY (~$701,253.08 USD) | 91,172,646.66 PPY (~$1,106,016.17 USD) | 136,307,169.99 PPY (~$1,686,379.25 USD) | 168,417,693.32 PPY (~$4,210,442.33 USD) |
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