The Major Governance and Utility token of Plasma Finance dApp and protocols.
$PPAY is the native token of Plasma Finance that is central to our vision of building a decentralized financial ecosystem for each participant of the DeFi. PPAY is created in the ERC-20 standard and officially launched on the 10th of December, 2020.
PPAY’s main utility function is governance of the protocol & treasury. 1 PPAY token equals to 1 vote that the community can utilize when voting for delegates, controlling the development foundation, voting for DeFi projects to get listed on Plasma Finance’s platforms, protocol changes and updates.
$PPAY will be also used inside the Plasma Finance ecosystem as a utility token:
Limited access to the Plasma Protocols (HyperDEX, Leverage, HyperLoop) depends on the trading volume of the wallets. Subscription protocol model based on PPAY balance.
The total supply of PPAY is 1,000,000,000. This breaks down as follows:
Seed. Option 1 : 50,000,000 price $0.01 — Private round for early investors
Market Makers and Exchanges: 10,000,000 — To be used for liquidity for market makers & exchanges
Team: 100,000,000 — To be used for incentivizing Plasma Finance employees and to finance future DeFi projects.
Advisory Pool: 25,000,000 — For advisors
Equity holders: 65,000,000 — Reserve of tokens for equity investors in Plasma
Community: 525,000,000 — Funds to be used mostly for incentivizing liquidity mining, supporting DeFi developers and ambassador programs. The Developer's foundation will be controlled by PPAY Governance DAO
Reserves: 50,000,000 — Funds reserved for future project requirements, including marketing, promotional activities, and fundraizing.
Each set of tokens has different vesting schedules. The total emission schedule is outlined below, with all tokens being fully unlocked by the end of 2022:
PPAY will be distributed via a linear model based on the vesting schedule set by each tier. By utilizing this method, claims are fluid and can be claimed at any time through PlasmaFinance’s contract interface thus providing a more liquid distribution for all.
PPAY Emission (vesting distribution)
PPAY is multi-chain token represented on 4 chains: