New Website Day! (and other PINT updates)
PINT Scarcity Protocol
The community just proposed and passed a resolution to cut the PINT liquidity incentive from 2.5 PINT issuance per block down to just 1. The PINT token was sitting at a $5M marketcap but with $2.5M in liquidity on Uniswap. This liquidity/marketcap ratio far exceeded what is common, necessary, or even beneficial (too much liquidity suppresses price exploration), but was a natural consequence of the strong demand for PINT.
With today’s implementation of PINT’s Scarcity Protocol, inflation from new emissions drops 67%. The new 1 PINT block reward will further drop down to 0 when PINT hits a max supply of 10M tokens, at which point revenue from Wen Rug will fill the void. For more details, please check out the (passed) resolution on our Snapshot.org page.
We are excited to roll out a completely new website for the PINT community! Instead of wasting your time explaining the new website, go check it out for yourself: Pub.Finance. Once WenRug is live we will be adding a variety of user metrics (volume, users, revenue, etc) to the Dashboard page as well.
Wen Rug update / New Hires
We have retained a professional UI/UX team to design the front-end user interface for WenRug. The firm has worked with cryptocurrency products in the past and is eager to collaborate with us. Furthermore, they have specifically requested to be partially compensated in PINT tokens, which is a great alignment of incentives. We couldn’t be happier to secure their help on our flagship project. Join our Champagne Room (VIP telegram channel) to see sneak peaks and provide input on the design over the coming weeks–hold 5500 PINT to be eligible, and ping one of our moderators in chat.
PINT was launched with a 0% premine, but through early-stage farming taxes, community donations, and farming revenue, our Community Warchest has grown to $135,000 in ETH/stablecoins, and 750,000 PINT ($750,000 @ the time of publishing). This is even before any revenue from WenRug. Once the game is live and cash flow begins, the PINT Community Warchest will capture its share of that revenue and continue to grow. The money can then be directed through community vote towards future projects, marketing efforts, PINT buybacks off the market, partnerships, or airdropped as community bonuses.
Upcoming PINT Demand Drivers
The launch of WenRug will usher in a whole new arena of demand for PINT. Crash games are very popular and we are building WenRug to be the most compelling, gamified, and incentivized crash game on the market. Hot streak bonuses, loyalty rewards, player achievements, badges, and more, all paired with PINT’s significant marketing warchest (see above), will push WenRug to the forefront of the industry segment.
The game will launch with a 2% take, half of which goes to investors in the house pool, and half paid out to PINT stakers. The more successful the game, the higher the payouts of ETH (from WenRug revenue) to PINT stakers, thus creating a pseudo price floor and natural demand for the token. In this way the success of the game frictionlessly benefits token holders and drives demand for PINT. Additional demand drivers for PINT will be implemented into WenRug such as laddered fee discounts for holding PINT, higher investment limits in the house pool for PINT stakers, and more.
One-sided staking and token upgrade
Currently slated to go live alongside WenRug’s launch later this Summer, one-sided staking (impermanent loss-free) is coming to PINT. We will be upgrading the token and the ecosystem to revolve around time-locked staked PINT, rather than just held PINT tokens. WenRug revenue, the governance portal, and access to the VIP channel, will be tied to staked PINT (sPINT). This upgrade will strengthen every aspect of the project and give a stronger voice to our dedicated community members with skin in the game.
Welcome to the PINT Community! Join our Telegram channel and get involved: https://t.me/PubFin