Platinum Finance
Search…
πŸͺ™
Tokenomics

PLAT (Platinum Finance Token)

PLAT token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain PLAT's peg of 1 PLAT = 1 Fantom (FTM) in the long run.

Distribution

Distribution of PLAT during Epoch Expansion is as follows:
  1. 1.
    87% as Reward for Staking's SPLAT Stakers
  2. 2.
    8.7% goes to Treasury
  3. 3.
    4.3% goes to core teams
Note: If there are bonds to be redeemed, 65% of minted PLAT goes to Treasury until it's sufficiently full to meet bond redemption. If there is no debt (PBOND), it will follow maximum capped expansion %.

SPLAT (Platinum Shares)

SPLAT is one of the ways to measure the value of the PLAT Protocol and Shareholder Trust in its ability to maintain PLAT close to peg. During epoch expansions the protocol mints PLAT and distributes it proportionally to all SPLAT stakers in the Staking.
SPLAT holders have voting rights (governance) on proposals to improve the protocol and future use cases within the PLAT money ecosystem.

Distribution

SPLAT has a maximum total supply of 80,501 tokens distributed as follows:
  1. 1.
    Rewards 87% : *70,000 SPLAT are allocated for incentivizing Liquidity Providers in PLAT-FTM & SPLAT-FTM LP
  2. 2.
    Treasury Allocation 8.7% : 7,000 SPLAT vested over a period of 150 days
  3. 3.
    Team Allocation 4.3% : 3,500 SPLAT vested over a period of 150 days
  4. 4.
    Initial Mint: 1 SPLAT minted upon contract creation for initial pool
*Shares Rewards are allocated equally:
  • PLAT-FTM LP: 35,000 SPLATs
  • SPLAT-FTM LP: 35,000 SPLATs

PBOND (PLAT Bond)

PBOND's main job is to help incentivize the changes in PLAT supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of PLAT falls below 1, PBOND will be issued and can be bought with current price PLAT price.
Purpose of buying PBOND (exchanging PLAT for PBOND):
  1. 1.
    Burns PLAT tokens
  2. 2.
    Takes PLAT out of circulation (deflation)
  3. 3.
    Helps to get the PLAT price back up to the peg.
These PBOND can be redeemed for PLAT when the price is above peg in the future. Investors who are here for long-term and are bullish on PLAT and FTM can choose to hold PBOND longer as the premium gets higher when PLAT's TWAP increases over time.
Buying PBOND addresses PLAT inflation issue and helps to push PLAT back above the peg.
Note: Contrary to early algorithmic protocols, PBOND does not have expiration dates on redemption PLAT.
All holders are able to redeem their PBOND for PLAT as long as the Treasury has a positive PLAT balance which typically happens when the protocol is in epoch expansion periods.