History of the Project
The first iteration of PINT was a farming coin named PUB fair-launched in September 2020. Foregoing an ICO or developer premine, PUB was initially distributed through a high-emission farming schedule that rewarded liquidity providers. A small unstaking tax on the upward of $5,000,000 in farming TVL accumulated in a community-governed war chest (CGW), which funds the development of innovative and engaging products for the Pub.Finance ecosystem. Following the distribution stage, PUB underwent a token upgrade to drastically cut emissions and implement deflationary mechanisms, and, as part of the result of that upgrade, the ticker changed to PINT.
The Flagship Product: Wen Rug
PINT’s flagship product, Wen Rug re-envisions the popular crash game genre. It is fleshed out and gamified with hot streaks, achievement badges, DeFi memes, bonuses, and more.
While most crash games pay out 50% of revenue to investors in the house pool and retain 50% of the revenue for the site owners, with PINT the users are the “owners” of Wen Rug. 100% of user fees not allocated to the house pool are paid out to PINT stakers. Additionally, by staking PINT tokens each user has a voice in the project’s direction and the ability to direct use of funds in the CGW toward PINT buybacks, additional dividends, and future development — all while earning revenue from Wen Rug and future Pub.Finance products.
PINT Economics & Staking
Currently 2.5 PINT are minted per Ethereum block, 100% of which are distributed to staking liquidity providers on the ETHPINT liquidity pool. At present these new emissions act as a liquidity incentive for PINT’s market pair. However, the end goal is for emissions to be cut to zero, and user fees from Wen Rug fill that gap. With zero daily emissions and the potential for buybacks from the CGW, PINT is designed to ultimately enter a state of active deflation.
Presently the only staking available for PINT is to stake ETHPINT LP tokens. However, a one-sided staking solution is currently under development to allow PINT holders to stake their coins and earn PINT and ETH payouts from Wen Rug user fees without exposing themselves to the risk of impermanent loss. This solution is scheduled to go live alongside the open beta for Wen Rug.
The development team relies heavily on community input and involvement to help guide the future of PINT through two methods. The first method is PINT’s governance portal on Snapshot.page. Through this process, any address holding 50,000+ PINT is eligible to create a proposal on which the community will vote upon. Votes are tallied through signed messages and weighted according to each voting address’s PINT balance. No minimum PINT balance is needed to vote.
The second method is through PINT’s private “Champagne Room” Telegram channel. Access to this channel is currently restricted to individuals who hold at least 5,000 PINT in their wallet. This VIP room provides a more intimate level of conversation between members of the community and the PINT development team, allowing collaboration on future plans, economic proposals, and product design concepts.
PINT’s current website is a carryover from the high-emission farming distribution days and is a simple fork of the standard farming website design popularized by Yams, Sushi, and Kimchi. Because the current website no longer accurately reflects PINT’s developmental progress or ethos, a brand site is under development for Pub.Finance. The new website will serve as a central hub of information and resources for PINT investors and will be released alongside completely new branding, including a new logo for PINT.
The alpha launch of Wen Rug is scheduled to be released in the second half of February 2021. This barebones version of the game will be restricted to internal playtesting by the team and members of the Champagne Room to troubleshoot the core mechanics of the game. Our product developers will also use this time to build out the many additional details and features of the game that need to be in place before the beta launch.
The ultimate goal for Wen Rug is to upgrade into a fully decentralized and noncustodial game. After the open beta of Wen Rug is live and is fully functioning, the next major area of focus for the Pub.Finance team will be to explore and implement a solution to this challenge.
Join the PINT community on Telegram to learn more or get involved.