Wen? The Parrot IDO Plan

  1. Auction 1 starts at September 14th, HKT 9AM; PST 6PM; EST 9PM. 1,680,000,000 PRT tokens available (8% of supply)
  2. Auction 2 starts at September 16th, HKT 9AM; PST 6PM; EST 9PM. 420,000,000 PRT tokens available (2% of supply)
  • The stablecoin PAI
  • Synthetic BTC (pBTC)
  • The Parrot stake pool token (prtSOL)
  • Synthetic SOL (pSOL)
  • +EARN vaults, where the deposited collateral is used to generate yield for borrowers
  • Participate as a stable swap LP for PAI, pBTC, and pSOL on Mercurial and Saber
  • Deposit PAI and pSOL in lending protocols
  • Deposit LP tokens as collateral to mint PAI, pBTC, and pSOL, while generating yield on the LP
  • Using PAI to trade with leverage
  • Auction 1 (80%): 1,680,000,000 PRT
  • Auction 2 (20%): 420,000,000 PRT
  • Unrestricted Period: 24 hours (first half, participants can both deposit or withdraw)
  • Withdraw Only Period: 24 hours (second half, participants can only withdraw)

Token Distribution

  • Protocol incentives: 35%
  • Team & Angels: 20% (3 year bi-monthly unlocks)
  • IDO: 10%
  • Ecosystem & Partnerships: 10%
  • Seed: 20% (3 year bi-monthly unlocks)
  • Protocol Controlled Reserve: 5%

Uses for the PRT Token

Protocol Fees

  • Stability fees collected on the outstanding debt
  • A percentage of the earnings from the + Earn products

Conclusion

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