Decentralized Exchange
PugSwap protocol will empower liquidity providers and traders to participate in a financial marketplace that is open and accessible to all.
PugSwap is a decentralized exhange adopting the automated market maker model.
Similar to other platforms using the AMM model, there is no order book to match buyers and sellers. Instead, users trade against a liquidity pool. The assets in each pool are provided by supporters and users of PugSwap.
By adding liquidity to these pools you can earn LP tokens in exchange, according to your share of the pool. You can then convert these LP tokens back to the original tokens you supplied.
NFT Market
PugSwap’s NFT Pet Market will be an exclusive NFT marketplace where PugSwap holders will be able to grow, bread and exchange NFT Pets. There will be additional assets in the marketplace such as NFT Pet accessories that can be purchased for NFT Pets.
Tokenomics
Governance
The PugSwap protocol is governed and upgraded by PugSwap Token holders. PugSwap Token holders can delegate their voting rights to themselves, or an address of their choice. Addresses delegated at least 2,000,000 PUG can create governance proposals.
When a governance proposal is created, it enters a 2 day review period, after which voting weights are recorded and voting begins. Voting lasts for 3 days; if a majority, and at least 51 % of circulating tokens as votes are cast for the proposal where 1 vote corresponds to 1 PUG, it is queued in the Timelock, and can be implemented 3 days later. In total, any change to the protocol takes at least two weeks.
Token Supply Allocation
Total Supply: 1,000,000,000 PugSwap Tokens
95% of PugSwap tokens will remain locked until the Mainnet Release in July. After that period, token supply allocation will be as followed.
- 70% of the total supply will be allocated for Staking.
- 15% of the total supply will be allocated for Exchange Listings and Marketing
- 10% of the supply will be allocated for Founder’s Reserve
- 5% of the total supply will be allocated for Charity Activities.
Staking Mechanism and FART Rewards
PugSwap Token (PUG) staking rewards have a logarithmic growth, decreasing by time thus its inflation rate decreases in function of time.
Every year half of the total allocated supply will be rewarded to PugSwap stakers. APR will be automatically calculated in a function of time. That will enable early stakers to earn more while capping a monthly amount of reward for a fair rewarding mechanism. In PugSwap ecosystem, a FART token is created with unlimited supply by the start of staking mechanism. FART token will be used as a reward to liquidity providers. There will be a FART/PUG exchange rate determined by the function of daily PUG transactions. Users may exchange their FART into PUG and vice versa through PugSwap DEX. PUG LP rewards will be reinforced by FART rewarding mechanism. That’s true that PUGS love to FART so we chose its name from this fact and PUG holders will be rewarded in function of FART token.
Exchange Listings and Marketing
15% of PugSwap Token’s total supply will be used for Marketing and Exchange Listing activity purposes. Those activities details will be covered in a different paper.
Charity
5% of PugSwap Token’s total supply will be allocated for charity. It will be used to help animal shelters around the world.
We will keep you updated weekly about PugSwap’s growing ecosystem!
