Percent (PCT) Token Distribution

Token Distribution

Total supply: 20,000,000 PCT (Hard capped. No minting capability. No admin key.)

The distribution is divided into 3 phases:

• Phase I (Week 1–2): 10,000,000 PCT
• Phase II (Week 3–4): 6,000,000 PCT
• Phase III (Year 1): 4,000,000 PCT

Phase I (10,000,000 PCT)

Start from: 17th Sep, 13:00 UTC

Duration: 2 weeks

10,000,000 PCT will be distributed to the following Balancer pools. The PCT/WETH pool will receive 2X rewards. Liquidity providers can farm PCT by simply staking their BPT tokens to the respective reward contract through the official website.

• DAI/WETH (50/50)
• USDC/WETH (50/50)
• COMP/WETH (50/50)
• LINK/WETH (50/50)
• BAL/WETH (50/50)
• YFI/WETH (50/50)
• WBTC/WETH (50/50)
• PCT/WETH (50/50) (2X Rewards) (This pool will be open ~30 minutes later than other pools, so people can have time to obtain PCT before this pool opens)

Phase II (6,000,000 PCT)

Start from: 1st Oct, 13:00 UTC

Duration: 2 weeks

Percent (Money Market) will be launched at the beginning of Phase II. During this 2 weeks, 3,000,000 PCT will be distributed to Suppliers and Borrowers on Percent similar to the way Compound distributes COMP tokens.

At the same time, 3,000,000 PCT will be distributed to the same Balancer pools as in Phase I, the PCT/WETH pool will still receive 2X rewards.

Update

According to PIP #1, the total rewards for Phase II will be increased to 6,877,698.453 PCT

6,877,698.453 = 3,000,000 (supply/borrow) + 1,544,365.122 (PCT/WETH pool) + 333,333.333 * 7 (other pools)

Phase III (4,000,000 PCT)

Start from: 15th Oct, 13:00 UTC

Duration: 1 year

In order to maintain active supplying and borrowing on Percent, 2,000,000 PCT will be distributed to Suppliers and Borrowers in Percent.

At the same time, 2,000,000 PCT will be distributed to the PCT/WETH pool.

Update

According to PIP #1, the total rewards for Phase III will be decreased to 3,122,301.547 PCT

3,122,301.547 = 1,561,150.7735 (supply/borrow) + 1,561,150.7735 (PCT/WETH pool)

Note 1

The reward contract (source code) is not audited. However, it is basically the same as the audited and battle tested Synthetix reward contract (source code) with minor modification for simple deployment. DYOR and use at your own risk.

Note 2

All BAL rewards from Balancer will be used to subsidize dev cost, this allows the team to continue the development while still keeping the project 100% community owned.

FAQ

Is there any chance that the team can “Rug Pull”?

No. PCT is hard capped at 20,000,000 and there is no way to mint new tokens once it is deployed. All minted tokens will be stored in either the reward contracts or the 48-hour timelock contract.

Will there be new tokens minted after all 20,000,000 PCT tokens have been distributed?

No. PCT is hard capped at 20,000,000, 100% to the community, it is programmatically impossible to mint new tokens.

What is the PCT token address?

PCT Token Address: 0xbc16da9df0A22f01A16BC0620a27e7D6d6488550

Where can I farm PCT?

You can farm PCT from the official website percent.finance.