PPAY Token Distribution and Metrics
As PlasmaFinance moves towards its Token Generation Event (TGE), we would like to detail the token distribution and explain the various allocations and vestings.
What is PPAY?
PPAY Is the utility token of PlasmaFinance and is central to our vision of building the private web3 account for DeFi. It fulfills several important functions for the project, including facilitating:
Further details of how PPAY will be used are available here.
PPAY token distribution
The total supply of PPAY is 1,000,000,000. This breaks down as follows:
- Private. Option 1.: 50,000,000 — Closed round for early investors
- Private. Option 2.: 100,000,000 — Closed round for strategic investors
- Private. Option 3.: 75,000,000 — Closed round for strategic investors
- MM and exchanges: 10,000,000 — To be used for liquidity for market makers & exchanges
- Team: 100,000,000 — To be used for incentivizing PlasmaFinance employees and to finance future DeFi projects on Plasma Chain
- Advisory Pool: 25,000,000 — For advisors and PPAY ambassadors
- Equity holders: 65,000,000 — Reserve of tokens for equity of investors in PlasmaFinance
- Governance: 525,000,000 — Funds to be used mostly for incentivizing liquidity mining, supporting DeFi developers and local ambassador programs. The Developers foundation will be controlled by $PPAY DAO
- Reserves: 50,000,000 — Funds reserved for future project requirements, including for marketing and promotional activities
Emission
At launch, there will be approximately 55,750,000 tokens or 5.575% of the total supply. This comprises:
- Seed: 5,000,000
- Private 1: 16,000,000
- Private 2: 24,750,000
- Market Makers and Exchanges: 10,000,000
- Team: 0
- Advisory Pool: 0
- Equity holders: 0
- Community: 0
- Reserves: 0
This means that the initial market capitalization of PPAY upon launch will be $1.115m at the private round 2 price.
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 anytime through PlasmaPay’s contract interface thus providing a more liquid distribution for all.
PPAY is a governance token for PlasmaFinance protocols.
