Pengwyn BINC | The Gamified Company Protocol

Introduction
The number of global start-ups have been rising since the beginning of 21th century. This eventually made businesses to reach global perspectives, experiences, and information without the effort to find them where these businesses are located. We wanted to push this further. Thus, we not just designed a company that could gather the creative minds from all around the world, but also placed it on the blockchain. Let’s talk about Pengwyn BINC, world’s first hybrid cross-chain company that is owned and managed both by the team and the community.

Pengwyn BINC
Pengwyn BINC is a gamified company project which is designed to be owned and managed by its share-power holders fully on blockchain. The primary objective of the company is to build a mutually owned brand where both creators of the project and the community have various roles in the management structure. To facilitate this structure, Pengwyn BINC utilizes Non-Fungible Tokens (NFTs) and other on-chain assets as share power. The share power structure is designed as follows:

• 25% of the share power are assigned to Pengwyn Waddle NFT Collection,
• 5% of the share power are assigned to Pengwyn OG NFT Collection,
• 50% of the share power are assigned to $PNGWYN Token,
• and 20% of the share power are assigned to $C-PNGWYN Token.

Pengwyn BINC is specifically designed for investment and development activities and structured upon various elements that enable share power holders to navigate the company with full transparency. The project is focused on creating a fair management environment by developing a diverse range of tools that improve decision-making through transparent and real-time data provision for all stakeholders. The aim is to drive progress on these tools, contribute to the advancement of the broader blockchain ecosystem, and eliminate the entry barrier for the entrepreneurs in the industry.

Pengwyn BINC Vaults
Pengwyn BINC operates with three distinct vaults, which serve as separate budgets supporting different areas. The three primary vaults operated by Pengwyn BINC are:

• Treasury Vault: The Treasury Vault functions as a budget to cover the company’s operational expenses in the short term. The team has control over Treasury Vault and can manage its usage with full transparency.
• PAO Vault: The Pengwyn Autonomous Organization (PAO) Vault serves as a collateralized fund that focuses on medium and long-term development expenses of Pengwyn BINC. The team cannot use this capital without the permission of the share power holders, ensuring their involvement in significant expenditure decisions.
• Investment Vault: The Investment Vault serves as a budget specifically reserved for long-term investments made by Pengwyn BINC. The team has control over this vault and strategically manages the fund by following investment-based decision-making processes within the company structure alongside with the community. For more information about how investments work, please visit the section

The Pengwyn DAPP ensures transparency of the financials, enabling share power holders to monitor the performance of the vaults and stay updated about the company’s current position.

The BINC Management Tools (Current)
In a project focused on establishing a mutually owned company, the primary objective is to promote democracy and empower community members to actively participate in decision-making processes. However, it is important to note that simply adopting the concept of a mutually owned company does not guarantee true democracy. To ensure effective governance and transparency within the company, it is necessary to implement specific tools that enable members to thoroughly audit the project’s activities and evaluate its overall performance. Below you can find the management tools of Pengwyn BINC:

• Pengwyn Autonomous Organization (PAO): The Pengwyn Autonomous Organization (PAO) serves as a voting tool that automates capital transfers from the PAO Vault to remaining vaults with the approval of Pengwyn BINC share power holders. PAO tool facilitates the expenditure based decision-making processes among share power holders within the organization. To access the collateralized funds in the PAO Vault, the team must submit detailed proposals containing specific information regarding the purpose of expenditure and the required capital amount. The voting process consists of two separate parts involving different parties.

For more information, please check the Pengwyn Autonomous Organization section in Pengwyn BINC White-paper.

• Pengwyn Stats: Pengwyn Stats is a comprehensive value dashboard that is designed to demonstrate various valuations of Pengwyn BINC NFTs and offers additional financial data for the share power holders of the company. By prioritizing transparency and implementing different measures, Pengwyn BINC aims to create a secure investment and trading experience within the NFT ecosystem. The stats dashboard at launch will include Pengwyn BINC vault reserves and thier details such as asset types, amounts and their values in ICX and USD.

For more information, please check the Stats section in Pengwyn BINC White-paper.

• Pengwyn Sales Force Program (PSFP): The Pengwyn Sales Force Program (PSFP) functions as an active income tool, providing Pengwyn BINC NFT owners with the opportunity to serve as intermediaries in both the Pengwyn Waddle NFT Collection and partner projects’ mint sales. PSFP will be introduced with the mint sales of the Pengwyn Zombie Waddle NFT Collection, allowing Pengwyn OG owners to utilize this feature exclusively. To participate in the minting and sales process, Pengwyn OG NFT owners can generate promotion codes using the Pengwyn DAPP. These codes will enable intermediaries to offer mint rights and discounts to investors interested in specific projects.

For more information, please check the Pengwyn Sales Force Program section in Pengwyn BINC White-paper.

• Pengwyn Suggestion Votings: Pengwyn Suggestion is a decentralized on-chain voting tool that empowers Pengwyn BINC share power holders to propose suggestions and enables the community to vote on these ideas. This tool is a crucial component of Pengwyn BINC’s decentralization efforts as it provides valuable insights into the community’s expectations. The voting power of share power holders is determined by the share power they hold in Pengwyn BINC.

For more information, please check the Pengwyn Suggestion Votings section in Pengwyn BINC White-paper.

The BINC Management Tools (Upcoming)
Pengwyn BINC has a primary focus on developing subsidiary products and tools within the blockchain sector. The company aims to integrate these products and tools into its management technology for entrepreneurs to utilize. Pengwyn BINC share power holders will have the opportunity to participate in each development process and contribute to the product’s advancement. The development focus of Pengwyn BINC centers around utilities and revenue streams, working towards a common objective of delivering value and usefulness on its on-chain platform, all while generating income for the company and its share power holders. There are several planned development targets for the future of the project, which are listed below:

• Pengwyn Expenditure Module: The Pengwyn Expenditure Module is an upcoming feature that will be integrated into the Pengwyn DAPP. This module is specifically planned to enhance transparency by providing a visual representation of the company’s expenditures. The module is also planned to show the company’s liabilities. The primary objective is to showcase detailed information regarding current and future payments, including the amount paid, the purpose of the payment, and the recipient of the funds. By offering this functionality, the Pengwyn Expenditure Module effectively transforms into a versatile accounting tool that can be further enhanced and optimized over time.
• Pengwyn Discord BOT: The purpose of Pengwyn Discord BOT is to contribute to Pengwyn BINC’s goal of revolutionizing NFT innovation by leveraging distinctive traits found in a diverse range of NFT types. These traits will be utilized to assign specific roles tailored to different types of Pengwyn BINC share power holders. The plan is to implement Pengwyn Discord Bot within the Pengwyn BINC Discord Server and automate the process of role assignments for holders who possess various NFTs. The primary objective of Pengwyn Discord Bot is to streamline operations within Pengwyn BINC and extend its functionality to other community-oriented projects within the ecosystem.
• Pengwyn BINC Node: As a mutually owned company, Pengwyn BINC Node is specifically designed to empower Pengwyn BINC share power holders in making node decisions while ensuring the security of the ICON Blockchain. These decisions will take into account the votes from share power holders, which have varying weights based on their holdings. The goal of Pengwyn BINC Node is to become a p-rep (Public Representative) on the ICON Blockchain. As part of this plan, the node will be integrated with decision-related products, with an initial focus on the CPS (Contribution Proposal System). This integration will allow Pengwyn BINC share power holders to actively participate in the decision-making processes within the CPS, further engaging them in the project’s development.
• Pengwyn Management Module: As part of its future targets, Pengwyn BINC aims to create an on-chaİn company management interface not only for investors but also for project managers operating within the blockchain ecosystem. The development of such an interface requires careful observation of the process of managing a mutually managed company. Consequently, Pengwyn Management DAPP will be designed to include all the use cases and scenarios experienced by the community, allowing for the discovery of common practices and approaches. By incorporating these insights, Pengwyn Management DAPP will provide a comprehensive and user-friendly solution for managing the company and its operations.
• Pengwyn BINC Brands: Pengwyn BINC Brands refers to a business initiative program that empowers owners of Pengwyn BINC share power based NFTs to establish their own businesses within the Pengwyn BINC ecosystem. The primary goal of these brands is to contribute to the company’s value by offering new utilities and services. Through the utilization of Pengwyn BINC’s existing and upcoming management tools, Pengwyn Brands will be able to enhance their businesses and drive innovation within the ecosystem. This initiative enables share power holders to actively participate in the growth and success of Pengwyn BINC while fostering a dynamic and diverse marketplace.
• Pengwyn Innovation HUB: Pengwyn Innovation HUB is a decentralized platform that unites stakeholders, including developers, entrepreneurs, auditors, and investors, enabling collaboration and advancement in the blockchain industry. Entrepreneurs present ideas through standardized documentation, developers provide estimates and prices for transparency and feasibility evaluation, and successful ideas are opened for investor consideration. This structured approach not only facilitates the realization of innovative projects but also fosters social connections within the ecosystem.
• Pengwyn BINC Project Launchpad: Upon achieving all the development targets mentioned above, Pengwyn BINC is strategically designed to transform into a project launchpad. This transition will enable the creation of blockchain-based businesses, ultimately bridging the infrastructure gap that exists between companies operating in the real world and those in the blockchain sector. This approach aligns with the company’s mission to incentivize innovation and eliminate barriers within the blockchain industry, fostering a more seamless and interconnected business landscape.

The Business Economy of Pengwyn BINC
Pengwyn BINC is founded on a sustainable economy model that prioritizes long-term viability of the project. To enhance its durability in the sector and foster productivity within the community, Pengwyn BINC has implemented various revenue streams. The concept of share power in Pengwyn BINC represents the distribution of revenue streams among the share power holders, either in the form of daily rewards or upon profit realization. This approach contributes to the project’s growth and sustainability, providing share power holders with the opportunity to benefit from generated income while actively supporting the overall success of the project in the short, medium, and long terms. Pengwyn BINC has implemented various revenue streams that are distributed among stakeholders of Pengwyn BINC. These streams include secondary market royalties, investment profits, protocol interest revenue, NFT floor tax, and node rewards.

For more information about the shared economy of Pengwyn BINC, please visit the Business Economy section on Pengwyn BINC White-paper.

Summary
The community intelligence in the crypto sector is underestimated and ICON Blockchain has one of the most information seeking communities in the space. Thus, there is no better home for us to create the base for Pengwyn BINC, a gamified cross-chain company that focuses on NFTs that work as share power in a business that is focused on a transparent structure. We are looking forward to build our own code, design our WEB 3.0, DEFI, and NFT based products with the funds the organization holds, and write our own story that will eventually be told to the masses.

Until then, stay cool and enjoy being a Pengwyn.

For More Information

Website: https://pengwyn.io

Twitter: https://twitter.com/Pengwyn_BINC

Marketplace: https://craft.network/collection/pengwynog

Discord: https://discord.com/invite/F83f9HCFAj