As mentioned, $PIGGY is the governance token that allows users to participate in the development of Piggy and capture fee revenue generated by the protocol. The issuance of $PIGGY to participants is what allows for the bootstrapping of the system by incentivizing early adopters, as well as provides for the long-term health of the protocol. For those reasons, Piggy’s distribution is heavily weighted towards the community.
At genesis, we plan to distribute ++100,000,000 (one hundred million) $PIGGY tokens, as follows:
52.5% as Direct Incentives to the Community
40,000,000 $PIGGY as Stability Incentives. These are awarded to Stability Pool depositors. $PIGGY as Stability Incentives issuance follows a yearly halving schedule, described by the following function: 40,000,000 * (1-0.5^year). The purpose of this issuance curve is to favorably incentivize early adopters while also maintaining incentives for the long term.
2,500,000 $PIGGY will be allocated to the Liquidity Providers who will provide liquidity for $PUSD or $PIGGY in the future.
10,000,000 $PIGGY as Contributor Mining, where grants will be given in 1-year streams to contributions to the growth & development of the protocol, for example:
community devs that maintain/upgrade the protocol.
community ops people that help with the different community channels and run the day-to-day community functions including governance.
teams that build on top of / integrate Piggy
individuals that promote Piggy with campaigns like special NFTs, video explainers, and other high quality content.
collaborations with complementary protocols e.g. join liquidity mining programs, insurance programs, etc.
27% to Team and Advisors
27,000,000 $PIGGY are reserved to current and future team members that build Piggy continuously and the advisors that lent their expertise to Piggy’s success.
The $PIGGY on this category is subjected to a 90 days lockup, and for team members it is subjected to a minimum 90 days engagement, with 1/4th of the award vesting immediately afterwards and 1/360th every subsequent day.
13% to Investors
13,000,000 $PIGGY are reserved for the investors who supported Piggy’s pre-launch development.
The $PIGGY on this category is subjected to a 90 days lockup, with 1/4th of the award vesting immediately afterwards and 1/360th every subsequent day.
5% for the Treasury
5,000,000 $PIGGY will be set aside in a Treasury reserve to fund operational liquidity.
The Treasury will also contain stable assets and reserve assets procured with the balance left from the pre-launch development (raised from early investors).
2.5% for an Airdrop
2,500,000 $PIGGY will be distributed to a selected number of addresses on Binance Smart Chain to guarantee a wide distribution and a strategic base of support for the protocol. The details will be announced shortly. Piggy is targeting:
Stakers in the Liquity protocol on Ethereum who also have considerable activity on BSC.
highly-active $BNB addresses.
highly-active $CAKE addresses and governance participants.