A detailed look at $PNL token utility, allocation, and distribution
$PNL is the fuel powering the TruePNL rocket. It will be widely used in our on-chain and off-chain products to provide discounts, rewards, and exclusive privileges. In this post, we’ll take a closer look at how the 100,000,000 $PNL will be distributed and unlocked.
The many advantages of holding $PNL
In our blog post about the road map, we explained that $PNL is more than just the native token of TruePNL — it’s the cornerstone of the whole ecosystem. Here are just some of the advantages that $PNL holders can expect:
- Staking $PNL in lending pools to earn interest on loans;
- Yield farming;
- Impact mining: rewards for participation in trading competitions, hackathons, etc.;
- Discounts on fees when using both our DeFi and off-chain products;
- Discounted payments in the collateral commission pool;
- Prime subscriptions that give free access to products.
$PNL is initially issued as an ERC-20 token. The sale hasn’t started yet, but if you’d like to express your interest in buying $PNL and eventually get whitelisted, fill this form.
The maximum $PNL supply is 100 million, though the expected circulating supply immediately after the TGE (Token Generation Event) will be just 7.2M $PNL. The overall emission will be distributed in the following way:
Purpose and Allocation
- Seed sale — 4%
- Private sale — 14%
- Strategic sale — 5%
- Public sale — 3.40%
- Marketing — 16%
- TruePNL Foundation — 28.10%
- Liquidity pool — 1.5%
- Staking rewards — 5%
- Team — 22 %
- Advisors — 1%
As you can see, we’ve allocated a total of 26.40% of $PNL for all the sale rounds, with the public sale allocation being the smallest at just 3.40%. This is a good reason to join at an earlier stage — you can do it using this form.
$PNL vesting schedule
The long-term stability of $PNL is our utmost priority, so we’ve designed a gradual unlocking schedule for every type of allocation. For example, you’ll note that the tokens distributed to the team and to the Foundation will take much longer to unlock than those purchased at the various sale rounds. We’re also going to be very sparing with the marketing reserve.
Here is a more analytical representation of the vesting schedule. Note that the vesting cliff for the team is 12 months and that it will take 3 years for the team members to unlock all their tokens. By contrast, there is no vesting cliff at all for the token sale.
If you buy $PNL at the seed, private, or strategic rounds, 10% of your tokens will be unlocked at the TGE event, after which 1% will be unlocked daily for 40 days, followed by 0.25% daily for 200 days. This means it will take around 8 months for early investors to get full access to their tokens. This is done to prevent flash post-TGE sell-offs that plague so many blockchain projects.
Meanwhile, if you purchase $PNL at the public sale, there will be no lock-up period at all: you’ll be able to sell the tokens when you wish. However, as we’ve said, the public sale allocation is also quite small, so the competition to buy $PNL at this final stage can be high.
You’ll find further information on the utility and distribution in our One Pager.
As we are preparing for the token sale and working on the Substrate-based protocol, you can already experience the first flagship product by TruePNL: profitable robo-trading strategies developed by our in-house quant-trading team. We still have some slots left for the free usage, so you’d better join now!
Would you like to learn more about TruePNL? Then join the official Telegram community and feel free to ask us any questions!