A total of 5 billion PEN Tokens were created. The exact allocation and quota were set to prioritize stable settlement in the market and resistance to high volatility while ensuring sustainable development, mainnet operations, and ecosystem establishment.
1) Private Sale
The funds from the Private Sale (100 million / 2%) were used for initial development, operations, marketing, employment, and legal advice.
From December 2020 to January 2022, a total of 100 million tokens were sold during the Private Sale. Of them, 7,467,778 tokens (7.47%) have been distributed before the lock-up policy change and in circulation.
The remaining 92,532,222 (92.53%) have already been distributed or awaiting distribution as they are currently locked up and can’t be moved nor traded until October 2025. When the lock-up release conditions are met, 15%, 20%, 30%, and 35% will be distributed (4 installments) after 3 months. If the conditions aren’t met, the remaining supply will be released and distributed in October 2025.
A total of 900 million tokens (18%) were allocated as strategic investments or Block Sales to develop funds for the establishment of the initial system and ecosystem.
As of December 29, 2022, there are currently no tokens circulating on the market. Of the 900 million, 51,190,005 (5.69%) were distributed by applying a lock-up and vesting plan.
2–1) Block Sale
26,190,004 (2.91%) of the block sale was distributed in a lock-up contract which can’t be moved or traded until October 2025. When the lock-up release conditions are met, 15%, 20%, 30%, and 35% will be distributed (4 installments) after 3 months. If the conditions aren’t met, the remaining supply will be released and distributed in October 2025.
2–2) Strategic Investment
25 million (2.78%) are institutional investments. Half (12.5 million) will be unlocked and distributed on August 1, 2023 and the remaining 12.5 million on October 24, 2024.
3) Governance Reserve
A total of 150 million (3%) were allocated according to the Initial Token Allocation Policy. The funds are to be used according to the governance policy since the establishment of the governance body.
The funds will be used for various purposes, such as the development of the entire ecosystem, voting rewards, development support, and policy decision-making. Although the supply is currently locked-up, the amount will be determined via voting after the launch of the DAO.
4) Ecosystem Rewards
The initial supply is 1.75 billion (35%) and allocated accordingly: Ecosystem Partners (35%), Node Operation Rewards (35%), Staking Rewards (20%), and Grant & Accelerating Program Operations (10%).
Currently, only the Staking Reward supply is scheduled to be distributed immediately once the Staking Pool is open and according to the Liquidity Plan. The remaining amount will be locked-up until the mainnet has officially launched.
5) Liquidity Provision
A total of 1.25 billion (25%) was allocated to stabilize the price of $PEN through liquidity supply when listed on Centralized (CEX) and Decentralized (DEX) Exchanges.
As of December 29, 2022, a total of 2.865 million (0.23%) have been used to provide liquidity on the 4 exchanges (BiBox, DigiFinex, Bitmart, and MEXC). During initial listing on each exchange, a minimum of 400,000 to a maximum of 1,000,000 were supplied. These factors depend on the conditions and requests from each exchange.
After listing, 200,000 to 700,000 may be used to provide additional liquidity quarterly, depending on the size of the exchange and the conditions they’ve requested. We will update the supply schedule with details through notices and announcements.
6) Airdrop & Marketing
A total of 350 million (7%) was used to vitalize the community and ecosystem, airdrops, promotion, and marketing.
An average of up to 300,000 tokens per month are distributed without any lock-up. However, the lock-up and vesting conditions for bulk may be different and dependent on the service contracts or marketing consults.
A total of 5,964,640 (1.70%) were used by December 2022 which include airdrops, marketing, community building, and even marketing purposes when listed on exchanges.
6–1) Marketing consultation and Service
Currently, the amount that is to be paid according to the marketing consultation and service contract is 13,650,000 tokens (3.90%). Of these, 1.25 million (9.16%) will be unlocked and distributed on the following dates: on April 20, 2023, 3.75 million (27.47%) on April 20, 2024, and 2.5 million (18.32%) on April 20, 2025.
As 6.15 million (45.05%) have been distributed in contracts that are locked up and can’t be moved nor traded until October 12, 2025. However, when the lock-up release conditions are met, 15%, 20%, 30%, and 35% will be distributed (4 installments) after 3 months.
7) Team & Advisors
Of the 5 billion supply, 500 million (10%) is an allocated amount to be paid to executives and advisors of the project. This provides rewards and contributions to the development and flow of the overall project while encouraging motivation and creativity so the project can stay on a successful momentum.
We are currently discussing the distribution plan to adjust to large-scale distributions. Distribution will happen sequentially with a lock-up and vesting plan applied to protect price volatility.
Protocon(PEN) Token Allocation & Distribution Status
PEN Token Information
Protocon(PEN) Contract Address: 0xa5DeC77c4d1B4eba2807C9926b182812A0cBf9Eb
CoinMarketCap : https://coinmarketcap.com/currencies/protocon/
Coingecko : https://www.coingecko.com/en/coins/protocon
Bibox : https://www.bibox.com/en/exchange/basic/PEN_USDT?m=1
DigiFinex : https://www.digifinex.com/en-ww/trade/USDT/PEN
Bitmart : https://www.bitmart.com/trade/en-US?symbol=PEN_USDT&layout=basic
Mexc : https://www.mexc.com/exchange/PEN_USDT?_from=search_market