🎬Launchpad on Camelot
Information about the PNP token IDO
The IDO for $PNP will start on Monday, June 12th, 2023, at 12pm UTC and will conclude on Wednesday, June 15th. We are honored to launch the PNP token on Camelot, which is highly regarded as the leading native DEX on Arbitrum. Users will be able to participate by contributing ETH on the Launchpad. This event represents a significant milestone, further elevating the Penpie ecosystem and solidifying its prominence in the field moving forward.
PNP IDO Allocation
Here we share the allocation of our upcoming PNP IDO. The distribution has been strategically planned to ensure a diverse and robust token ecosystem.
xGRAIL: 35% — As governance stakeholders of Camelot Exchange, xGRAIL holders will have the chance to participate in the PNP token IDO, sharing a 35% quota. This will enable users of Camelot Exchange to gain governance authority over Pendle Finance through PNP.
mPENDLE: 30% — As key contributors to Penpie, mPENDLE holders have played a vital role in providing Penpie’s vePENDLE, allowing the platform to offer optimized benefits within the DeFi space. In recognition of their direct impact, mPENDLE holders and stakers will be eligible to share 30% of the total PNP tokens for sale.
vlMGP: 25% — As valued governance stakeholders in Magpie, vlMGP holders are granted the opportunity to participate in the PNP token sale. They will be eligible to share 25% of the total PNP tokens for sale, reflecting their integral role in the decision-making process for the platform.
Liquidity Providers: 10% — Liquidity providers are an important aspect of the success of Penpie, as the platform’s PENDLE emissions are directly correlated to the TVL within protocol. To acknowledge their importance, Penpie liquidity providers will be granted access to share 10% of the total PNP tokens for sale.
Launch Details
There will be 3 phases on the PNP IDO. Once the sale reaches 600K hard cap the sale will be automatically over.
Whitelist Sale (Penpie Priority Access) The Whitelist sale will last for 24 hours.
1st Stage: Whitelisted users can invest up to their allocated IDO quota.
2nd Stage: During the last 12 hours of the first 24 hours of IDO, whitelisted users can allocate 5x their IDO quota, (FCFS).
Public Sale
3rd Stage: After the first 24 hours, the public sale will start. If the IDO reaches 600K hard cap during the whitelist sale there won’t be any public sale.
IDO Information
Platform: Camelot Launchpad
Hard Cap: 600K
FDV: 3M
Network: Arbitrum
Deposit: ETH
Allocation: 2,000,000 PNP (20% of total supply)
Vesting Details: 30% Unlock at TGE, rest 1 Year Linear Vesting
Tokenomics (Distribution)
PNP Token
PNP stands as the governance and revenue-sharing token of Penpie. It embodies a unique blend of decision-making power and profit-sharing ability, facilitating a harmonious interaction within the ecosystem.
Users can lock PNP on Penpie as Vote-Locked PNP (vlPNP). Holding vlPNP allows users to not only earn passive income but also participate in the governance of Penpie and Pendle Finance. The token further democratizes the decision-making process, distributing the voting power that Penpie has accumulated from vePENDLE equitably among vlPNP holders. vlPNP token holders will have the benefit of voting for different pools to easily monetize their governance rights through the Penpie bribery market.
Q&A
Q: When will PNP be listed after IDO? A: PNP is expected to be listed on Camelot in the week of Jun 19 2023. Please stay tuned for further announcement.
Q: Where can I claim and check my 70% of purchased PNP in vesting? A: There will be a tab under claim page for IDO participants to check and claim vesting PNP.
Q: If I did not have a chance to participate PNP IDO, where can I get PNP? A: You can buy on Camelot once listed or deposit on Penpie to start earning PNP.
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