The PNT token has finally landed.
This new governance token will be used for staking, voting and earning interest within the new pNetwork, the decentralized network powering pTokens.
The pNetwork DAO will be the governance system for pTokens. Anyone holding PNT will be able to vote on various improvement and development proposals. For example, PNT holders can vote on which new pTokens “bridges” should be developed next, such as pLTC on Ethereum.
From EDO to PNT
In case you missed it, PNT is not a new token. It is an upgraded version of EDO, the utility token which fuelled the non-custodial Eidoo platform.
The upgrade of the EDO token was a collaborative effort between Eidoo and Provable Things (the main development team behind pTokens). Our teams worked closely together to ensure there was an equitable distribution of PNT, with majority control of the project now in the hands of the community. To achieve this truly decentralized governance system, the Eidoo team burned 28,350,000 EDO last week. You can read about this burn in Bitcoin News.
Upon its token launch, 60 million PNT was distributed across more than 7000 blockchain addresses. In theory, this could make the pNetwork one of the largest DAOs in the DeFi industry.
Where can I find PNT?
The following exchanges list PNT token. Click on the hyperlinked text to access trading pairs directly.
HitBTC — XPNT/BTC (Please note PNT is listed as XPNT on HitBTC exchange)
Kyber Network — ETH/PNT (Note that you can trade PNT with any other Kyber Swap token listed, not just ETH)
Loopring — PNT/USDT
We’ll add new listings as they appear, so check back for updates.
Power of the P
These PNT listings come at an exciting time for DeFi. More and more centralised exchanges are taking an active interest in DeFi tokens. This injects new liquidity into the space and creates new growth within the sector, helping DeFi projects like ours to develop and invite new user bases.
As one of the very few DeFi tokens to be listed on these major platforms, we hope that PNT will help drive meaningful adoption of decentralized finance alternatives, proving there are mainstream use cases for cryptocurrencies beyond simple speculation.
As for the pNetwork, it will be the foundation for what we hope will become a truly unique DAO, uniting many (if not all) blockchain communities.
We want to make DeFi truly universal. No blockchain should be limited to its native ecosystem. pTokens will ensure every cryptocurrency is welcomed by any blockchain, while the DAO welcomes any crypto and DeFi enthusiast to play an active role in securing and developing its future.
🔋 Learn about the pNetwork, the decentralized system and DAO powering pTokens.
🔗 For any blockchain project looking to integrate pTokens into their infrastructure, we have also built a pTokens JS library.
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