Last week, Polyient unveiled the Polyient Network, a decentralized data network for non-fungible token (NFT) pricing that will support a new generation of synthetic products built on top of the NFT asset class.
This new network will be fueled by Polyient Network Token (PNT), a utility and governance token that will be used to (1) pay for NFT data; (2) pay node providers through staking awards; and (3) obtain collateral for the synthetic asset platform.
PNT is initially being distributed through the very first Initial Vault Sale (IVS), where users purchase dedicated Polyient Network collectible NFTs that can also be inputted into a Polyient Vault to farm PNT.
The main sale for the Polyient Network collectibles is set to launch in Q2 2021 with a private sale underway (with the first tranche already closed). The main sale has a cap of $500M for 20% of the initial supply of PNT.
Rewarding Polyient Games Ecosystem Participants
With the rapid progress of our private sale, we wanted to move to introduce the concept of PNT rewards for Polyient Games Ecosystem participants.
While the Polyient Network token economy is wholly separate from that of the Polyient Games Ecosystem, we believe that crossover in the form of rewards will function as a strong bridge between the two high-potential systems.
In short, we are looking to allocate a portion of the total PNT supply to token holders within the Polyient Game Ecosystem. However, in order to determine the best method of reward, we want to open up the decision-making process to the PGT governance body.
That is why we are actively seeking thoughtful feedback from our community over the course of the next few weeks. This feedback will assist the Polyient team in designing its PGT Snapshot proposal that can then be voted on to indicate community consensus around the ideal reward approach.
As an example, one avenue that we are considering is providing PNT as the main live farming reward for staking Polyient DEX LP tokens, PGT and PGU (which is emitted from PGFKs).
The final decision on the method of reward will be based on a combination of internal decision-making and feedback from the official community consensus. Please note, the total token allocation amount for these rewards is not yet unveiled.