PRAGMA IS LOVE. BUT WHAT ELSE IS PRAGMA?

8 min readApr 3, 2022

A little note before we start on what Pragma is all about.
Pragma reminds us that we should above all else, enjoy the journey. This is where you find yourself and what life is all about.

What are Rebase tokens?

Before we get into PRAGMA, let’s be clear on what rebase tokens are so we can see the benefits of being PRAGMA holders more clearly.
A Rebase Token is one whose circulating supply expands or contracts due to changes in the token price. This increase or decrease in supply works with a mechanism called rebasing. When a rebase occurs, the supply of the token is increased or decreased algorithmically, based on the current price of each token.

What is Pragma?

Pragma plans to already disrupt the still new rebase space with its PRAGMA Auto-staking Protocol (PAP) on the Fantom Opera Network. Pragma intends to not only make staking easier but also provide the highest stable returns in DEFI, which benefits holders in the following ways:

1. PAP allows holders to simply hold $PRAGMA in their wallets and they will receive rebase rewards automatically into their wallets. No need to move them anywhere or stake them anywhere. Easy and Safe.

2. PAP provides a fixed, stable daily APY of 2.14%. There is no fluctuation or uncertainty of what you will receive on any given day. You know what you are getting with PAP. Compounded, this amounts to an astounding 227,140.92% annually. So for example, if you have $1 to start with, PAP will turn that into $2,271.40 after 1 year of compounding interest.

3. PAP also gives rebase rewards faster than other popular staking protocols. PAP pays out every 15 minutes. This is the fastest auto-staking protocol in DEFI.

PAP is a flexible and powerful system, using a complex set of factors to support its price and the rebase rewards. This system will be used as a foundation for all future PRAGMA products, services and projects.

How do I get PRAGMA?

Getting PRAGMA is very easy. Simply connect to SpookySwap, buy some PRAGMA and let it sit in your wallet. Job done.

Where did PRAGMA come from?

PRAGMA was born as an enhanced fork of TITANO, but on the FTM network. The aim of the team behind PRAGMA (who are all experienced in DEFI) is to make PRAGMA a DAO (Decentralised autonomous organization) where the community decides the future actions and directions of PRAGMA.
What PRAGMA prides itself on being different is through its treasury team. They are seasoned quant traders and DEFI strategists with loads of experience and skills perfectly suited to increase the value of the treasury, thus resulting in greater rewards for holders in the form of a monthly dividend.

A little more about PAP.

PRAGMA’s auto-stake feature is based on an ingenious function called BHE (Buy-Hold-Earn). With this function, all a holder has to do is simply, hold. The auto-stake function distributes $PRAGMA tokens to holders using a positive rebase formula. This formula makes it possible for token distribution to be directly proportional to daily rebase rewards. Because of this, simple yet cutting edge function, all PRAGMA holders are guaranteed a fixed APY of 227,140.92%

RVF. What is it?

Risk-Free-Value. This is a separate wallet in PRAGMA’s AP system. This wallet uses an algorithm that backs the rebase rewards and is supported by a portion of the buy and sell fees that accumulate in the RVF wallet. This wallet is basically used to back the rebase rewards that are distributed every 15 minutes and as a result, helps to ensure the high and stable interest rate to holders.
The RVF wallet also performs a critical duty of buybacks and burning of $PRAGMA tokens when FTM/PRAGMA pair supply is equal or greater to 2.5% of the total supply. This system helps to promote consistent high returns to every PRAGMA holder.

How does APY work? How is it calculated?

APY stands for Annual Percentage Yield. This measures the real rate of return on the principal tokens through compounding interest. So basically, your initial PRAGMA holdings starts out as your capital. After your first rebase rewards are added to your initial capital, the new total of your initial capital plus the recently added rewards becomes your current capital. Your next rebase rewards will then be calculated on your newly calculated capital holdings. This is how your holdings grow at an astounding rate of 227,140.92% because your capital increases every 15 minutes and as a result your rebase rewards will also increase as they are always calculated on your current and not your initial capital. Compound interest is a beautiful thing!

How does PRAGMA sustain such a high APY?

PRAGMA is backed by their treasury, which is a special fund generated by the taxes applied to all PRAGMA buys and sells. It is vital in 2 ways:

1. The treasury provides additional support for the RVF in case there is a significant price drop of the $PRAGMA token. The treasury helps to create and maintain a floor value of $PRAGMA

2. The treasury will be used to also fund new projects, services and products. This will all be towards the expansion and growth of the PRAGMA economy.

The Treasury

In addition to the above mentioned benefit of the treasury, we have an added benefit of the treasury which I will go into now. As also mentioned above, the treasury is managed by seasoned experts in all fields, who together form a formidable trading team. They are not only there to manage the treasury but to also grow it, through trading in multiple well known strategies like investing in low volatility and stable assets, higher volatility and shorter term gain strategies, yield farming, initial offerings participations, swing trading, portfolio rebalancing and so on. This will not only help the treasury grow but will also reward holders by distributing 10% of this growth to each holder once a month. Each holder will be given rewards based on the proportion of their holdings (determined via snapshots a few days before distribution). The more you hold, the more you will earn!

Some info about the team and project

PRAGMA protocol is in the process of negotiations to be audited by a highly respected auditing firm, which will be announced in the Roadmap and Whitepapers and Social media as well.
The team behind PRAGMA have already doxxed themselves to the Obisidian Council through provision of government documents verifying their identities and also and extensive video interview process. Should there ever be a rug-pull, all this information will be released immediately to the public. This has been done to ensure complete transparency and trust to the community.

What are the trading fees and where do they go?

PRAGMA implements trading fees for buying and selling, and distributes these fees to holders as well as various departments of the PRAGMA project. Buy fees have been set at 15% and sell fees at 20%. In the event of whales dumping their tokens, it still has a silver lining due to the 20% fees that are collected, distributed to holders and utilized by the project for further advancement of PRAGMA.

A little more info on where the trading fees goes:

Buy and sell trading fees: 5% of buy/sell trading fees goes to the RVF to help sustain and back the staking rewards. 5% also goes to increasing the liquidity of the PRAGMA/FTM pair on SpookySwap, thus ensuring an ever increasing collateral value of $PRAGMA. 5% of buys and 10% of selling fees goes into the treasury and are used as noted earlier in detail.

I’m convinced. How do I get some PRAGMA?

Easy. You simply connect your Metamask wallet to the Fantom Opera Network (easily done by following instructions provided at www.metamask.io). You must have some FTM in your wallet for gas fees which you can acquire through various faucets or through exchanges like Binance etc as well as via bridges like SpiritSwap Bridge (https://layer3.gitbook.io/spirit-swap/howto/bridge-from-bsc-ethereum-polygon-avalanche-or-arbitrum). You can also use Mentasuave01 Bridge (https://www.mentasuave01-tools.com/) who not only allow you to bridge to FTM but also provides some FTM for gas. For more information on the various bridging options, you can refer to the PRAGMA whitepaper here (https://docs.pragma.money/welcome-to-pragma/).

You can also buy PRAGMA through the steps noted below:

1. Charge your wallet with the amount of FTM (FANTOM Network) you wish to swap for PRAGMA.

2. Go to SpookySwap using this link: https://spookyswap.finance/swap

3. Select the tokens you want to swap (From FTM; To PRAGMA).

4. To buy PRAGMA, set the Slippage on 15%+ to swap and get your PRAGMA tokens.

5. To sell, set the Slippage on 20%+ to swap your PRAGMA tokens to other tokens.

Safety and security of PRAGMA

PRAGMA values safety and security above all else and has taken steps to address this through the use of multisig wallets and timelocks. They have taken additional steps to secure PRAGMA by removing all Migration Code from the contract. This prevents bad actors from confirming malicious transactions and also ensures that there can be no rug-pulls in PRAGMA.
Multisigs need approvals of a minimum of 3 out of 5 addresses and combined with the timelock set to 24 hours, as well as the fact that the multisig wallets are powered by Fantom Safe (based on GnosisSafe, which has passed the highest possible security standard) makes this project secure and in safe hands.

Contracts and Addresses

Some notable contracts and addresses are below for your reference:
RVF (Multisig): 0x186D5B8C9E6c6265071aAc228B145C32bEc1A0C6
Treasury (Multisig): 0x131b78F3961c90C364a7970B98988C219D56d62A
Operations Reserve (Multisig): 0xe8B151a86966e0375205f403267355B38960A158
PRAGMA Contract (TimeLock): Pending

Team Members Wallets:

· 0xB3e9dA73154C43219261675CFC66fFC907d3D7A4

· 0x530199F00Ac217044e10C8928F01B4B69e3325C2

· 0xf0835d408653116664D7bbcDB757B5988972849a

· 0x9e4d10996414E51e33Fb29c394C8dee1dc25929E

· 0x37c89AE44F5f2Eec46141B82235B003C522e64cE

· 0x7EB4dF1dEaE0F1dbF23e9Ad2A571E661A86112be

· 0x7CD1c564BD51189f103Dc07b48dfA08fF0692415

· 0x2220495aB2d889F6cfabD972005EDfEE1b8B12a3

· 0x8523877aA7A3D38EE93cd93f4CB58516867Ab176

Last but not least, TOKENOMICS!

There will be a total of 4.6 billion $PRAGMA tokens issued initially.
87% of this supply belongs to investors, will be paid out via future rebases. 10% of this 87% will go to the team. 2% will be as initial offering to investors. 1% will be reserved for initial marketing, development and future operations.
To be noted: Only 10% of the teams allowance will be available at launch. The rest is vested for 6 months and will be allocated periodically to the team.
Another note worth remembering: $PRAGMA is inflationary. So, more $PRAGMA can be minted as and when there is demand for it. However, there are inflation counter measures that are put in place, as noted below

1. Trading taxes: 35% of the trading volume will be recycled back to the protocol, which removes the same per cent inflation pressure from the token. This is the highest ever reported by any token!

2. Buy-backs and burns: a burning mechanism implemented into the PRAGMA protocol, which allows the protocol to buy $PRAGMA and burn it based on the MoM delta-positive overflow from the RFV/Treasury funds. This will happen once a month. This will also considerably remove the inflation pressure from the token and change the supply/demand ratio to the favour of all investors.

3. Use-case: Unlike similar protocols, $PRAGMA is not a useless token! PRAGMA devs have made a one-of-a-kind vault that allows all $PRAGMA holders to greatly leverage their $PRAGMA holdings. The more $PRAGMA holdings you have, the higher rewards you will potentially generate. This whole protocol has been designed to aid and enrich diamond hands. We have many exciting plans in the pipeline. Say goodbye to the paper hands!

Graphical representation of Token Distribution

ROADMAP

PRAGMA have set themselves an ambitious but very achievable roadmap and strive to ensure that all investors are constantly in the loop with the current goings on and future developments. The roadmap will constantly be updated to reflect the present and future plans and achievements.