How PGT value grows & its utility plans
When we started thinking about creating a Token for the digital economy we realised that it should be something different from what was being done by many projects out there.
In our case we wanted to deliver real value to our token holders by sharing revenue but we also want to develop an in-app economy through all our projects and/or partnered projects.
PART 1: A token backed by real value
It took us some time to set up everything , but finally we came up with the concept of “Revenue share” through a Public Buyback Fund.
To guarantee that collected REVENUES are always there and are collected in a honest way we have set up a full transparency program with Inlea Foundation through its Opening Chain project to provide holders with all information regarding the funds sent to Public Buyback Fund.
We also think this kind of “legal framework” could in fact be re-used by other startups or medium/small businesses who would like to build on blockchain in a transparent way.
All our products send its Revenue to the Public Buyback Fund and the accumulated funds are used anytime to Buyback PGT to token holders who make a Buy Back Request.
As a result Pungo Tokens have a guaranteed bought back value at any point in the future, and this value grows month by month as we accumulate Revenue in Public Buyback Fund.
This could have been enough to create our Pungo token, but we want to further develop all possibilities that Blockchain is giving us. Stopping here would feel like leaving things half done. So, let’s go with PART 2 :)
PART 2: Building a token economy
We also want to unleash and build on the underlying economy that building our own cryptocurrency allows us to create.
That is why we have set up an utility layer for Pungo Token that will be developed along with its “store of value” property.
- Pungo token to pay fees on our products: The same way other products do, our PGT holders will be able to pay fees in our products with PGT and get a reduction on those fees. For example, we will enable PGT “deposits” that will guarantee better rates in our htpps://peer2.cash fiat gateway and depositing PGT will give X % of discount for a total of Y amount of fiat.
- Paying commissions and affiliations: Pungo Token will be used to send out commissions and affiliations of our products. As PGT is backed by real, increasing value, we have reserved up to 10% of tokens to properly develop this services.
- Developing a community around PGT is a key point for us, as we are community based. We will be building several low-complexity tools around PGT, such as voting features and the exclusive gadget shop. For example:
- Issuing vote tokens to PGT holders to vote on adding new coins
- Engage community to vote on different subjects related to our products
- Rewarding those who actively participate with extra PGT
- Developing an exclusive gadget shop to spend PGT
Especial features unlock: We want to set up a growing list of especial features, early bird product access, requiring hold of minimum amounts and we will also develop different partnership levels. With time we hope we will be able to develop a full catalog of “features” around this including:
- Early bird unlock in-app products such as new debit cards with PGT
- Discounts on product unlock using PGT
- Unlock premium payment methods will require holding min amount of PGT
- “Partner levels” will require to hold min. amount of PGT
Getting listed in exchanges and DEX’s: As part of our commitment to build our PGT economy we will make sure that, appart of guaranteeing BUYBACK through Public Buyback Fund, the token gets listed in several decentralized and centralized exchanges. This includes Barterdex/Hyperdex, but also to other ones, we will be pushing new information about this as we have it available.
As you could have probably spot already, some people might see PART EVEN as unnecessary as sharing Revenue maybe be a enough a good reason for most of the people to buy in.
We couldn’t disagree more. It’s PART 2, “building PGT digital economy’’ the one which ultimately makes the whole thing take off within the nascent digital economy. If it wasn’t for the huge possibilities of Blockchain for organizations and companies we wouldn’t be here now.
We are all seing the birth of something humanity has seen only very few times in its history: A reinvention of money and value through the internet.
Building a digital private currencies around companies/organization products makes its value increase exponentially and is what everyone, every single company, will be doing within the next 10 years.