Pub.Finance Developer Update
Pub.Finance has undergone our final token swap, to PINT. Both PUB and PUBS can be quickly and easily swapped for PINT here: https://pub.finance/swap. PINT has a flexibly deflationary design. Transfer taxes and unstaking fees are routed towards stakers as bonus rewards for locked liquidity, and towards a community development fund.
To avoid issues like we ran into with PUBS (being unable to quickly fix a simple bug), the PINT contract is upgradeable. This also provides the community with the ability to include additional mechanisms in the future, as new token mechanics and innovation prove their value on other tokens. Once the community is satisfied and in agreement that PINT is in its final state, and following a governance vote to confirm such, the built-in “kill switch” on the upgradeability function will be triggered, and PINT will be as unchangeable and immutable as the initial PUB token.
Now that the token swaps went smoothly and are behind us, the development team is focused on implementing a Snapshot governance portal. This will provide the PINT community with a strong voice regarding future development, and perhaps most importantly, direct the use of the Community Development Fund. This fund is steadily contributed to through transfer taxes and unstaking fees.
Community Development Fund (CDF)
This fund is designated to be governed by the PINT community, and can be used for buybacks on the PINT market, for burns, to hire additional developers, locked as liquidity, for partnerships and giveaways, or even as additional bonus rewards for liquidity providers. Every time somebody sells PINT or unstakes their LP tokens, a small tax is initiated and is automatically funnelled into the fund.
At this time of publication, the Pub.Finance Community Development Fund (CDF) holds ~$10,000 worth of PINT and ~$25,000 in ETH and stablecoins.
Use case Development
PINT’s deflationary mechanics create a virtuous cycle where every transaction on the PINT network benefits the overall ecosystem. Because of this, the development team is focused on creating, forking, adapting, and partnering with dapps to use PINT — all contributing towards boosting transaction volume, which in turn boosts the rate of supply burns and the growth of the CDF. This virtuous cycle should innately effect the PINT market price, and in turn, incentivize more liquidity
If you have not yet swapped your PUB or PUBS to PINT, please go ahead and do so. There is currently no deadline for the swap mechanism, but this will likely be capped by the community in the next several weeks after the Governance Portal goes live. This will bring the whole community over to the final token design.
The Pub.Finance team and community now have a solid foundation upon which to build their suite of gaming products. A self-funding, community governed, deflationary ecosystem. Bottoms up.