STONE
STONE is the Pangea Swap's governance token.
The Pangea Swap will be Launched without governance token.
1. If a governance token is released together when it is not possible to value the Pangea Swap, it is difficult for uninformed token buyers to decide whether to invest the token.
Token investors should be able to determine whether the Pangea Swap is creating the intrinsic value of the DEX and “Concentrated Liquidity”. Therefore, the Pangea Swap should have time to prove that it offers any real value.
2. The governance token should be released when it can function as a token that can exercise voting rights.
When the grace periods provide the community enough time to familiarize the Pangea Swap and the protocol has a governance development environment, governance system will be introduced with starting token distribution. (’23. 1Q)
STONE
The Pangea Swap’s governance token is STONE. STONE holders will have ownership of Pangea Swap governance including STONE treasury.
Token Name: PANGEA GOVERNANCE TOKEN
Token Ticker: STONE
Token Standard: ERC-20
Contract Address: 0xB49E754228bc716129E63b1a7b0b6cf27299979e
Chain : Klaytn
Initial Issuance Volume : 10,000,000 STONE
STONE allocation
The initial issuance volume(10,000,000 STONE) is distributed by the below plan.
A perpetual inflation rate of 0.5% per 3 months will start after 48 months and be distributed to Treasury. (STONE distribution plan detail)
Treasury (63%)
liquidity mining, contributor grant program, partnership etc. The Pangea Swap governance will control all STONE vested to the Treasury.
vesting over 48 months, with 3 months cliff. (vesting schedule: every 3 months total 16 times)
Team (17%)
vesting over 48 months, with 6 months cliff. (vesting schedule: every 3 months total 15 times)
Investor (15%)
vesting over 48 months, with 6 months cliff. (vesting schedule: every 3 months total 15 times)
Marketing/Initial Liquidity (5%)
Initial Liquidity mining, Initial Partnership, Marketing etc. The Pangea Swap team will execute all STONE vested to the Marketing/Initial Liquidity for the Pangea Swap Growth.
STONE will be distributed 3 months after launching.
STONE distribution for community
[1] Before launching governance system
Until launching governance system, the core team will excute some of the STONE allocated as Marketing/Initial Liquidity and distribute them to the community. The distribution targets are the following two groups:
1. Early Contributors
Early Contributors to the Pangea Swap will be rewarded by the following 2 steps:
STEP 1. Earn CP
Period: Pangea Swap launching ~ before vesting STONE
Before vesting STONE, everyone who who invests time and effort into developing the Pangea Swap can earn CP(Contribution Points NFT). CP is an NFT designed to disclose activity history for these early contributors of Pangea Swap and to make STONE rewards transparent.
STEP 2. Get STONE Rewards
Period: After vesting STONE (’23. 1Q)
Early Contributors will receive STONE rewards based on CP points in their wallet. As early community is important to Pangea Swap growth, early contributors will be the first to be rewarded with STONE liquidity pool creation at the first quarter of 2023.
2. Initial Liquidity Mining (’23. 1Q)
During the initial liquidity mining period, the liquidity provider can claim STONE by adding liquidity to the liquidity mining pools. Details of the liquidity mining program will be released at ‘23. 1Q.
[2] After launching governance system ('23. 1Q)
After launching governance system, STONE holders can make decision how to distribute STONE vested to the Treasury to the community.
Tokenomics
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