Saturday, August 1, 2020


  London, Friday, 31 July 2020 - The pTokens project today launched pNetwork DAO, giving holders of the $ PNT governance token to help organize and influence the future of DeFi's cross-chain solutions. pTokens makes every cryptocurrency compatible with every blockchain, such as pBTC, which allows Bitcoin holders to explore Ethereum and EOS DeFi without having to sell or trade their crypto. The community run DAO pNetwork is the first big step towards decentralizing the system.

  PNT holders who stake their tokens on the DAO will be able to vote on different proposals regarding the development of pTokens solutions and make key governance decisions as a community. Active voters receive a competitive interest rate for their participation, receive an APR of 42% on their shares during the first year, and an APR of 21% the following year. These reward incentives are designed to give back to the founding community and help pNetwork thrive while it is in its early stages. Up to $ 28,350,000 of PNT tokens are dedicated to this initiative, generated through the inflation mechanism.

  PNT governance tokens are already held by more than 7,500 blockchain addresses, forming a wide and diverse community of token holders. In June, the main development team proactively reduced their share of tokens by burning more than 28 million company-managed tokens. This is to ensure that most of the project control will be distributed among the wider community at launch, not in the hands of the team.

  “A diverse and collaborative community of users is an essential component of any decentralized project. PNetwork DAO is an important way for our project to honor decentralization commitments, and ensure that network governance as it grows is shaped and influenced directly by everyday users, ”said Bertani.

 pTokens recently announced the launch of its new yield farming program, Steroids. This program will coincide with the launch of the DAO and run for one month. This allows all PNT token holders to receive rewards by adding liquidity to the Uniswap V2 PNT / USDT liquidity pool. Holders will receive up to 10% monthly interest as a reward. Users can increase their earning potential based on how much, and for how long they supply liquidity. Since Steroid can also function as an application in the DAO network, it also allows UniV2 pool tokens to be staked directly within the DAO, combining the Steroid rewards with the pNetwork DAO voting rights.

 The total supply for $ PNT is just under 60 million, with nearly 30 million already locked into the DAO network, reducing circulating supply by half. This includes company treasury and team tokens, as well as reserves dedicated to the Eidoo Card cashback program.

 The $ PNT community has staked around 5 million tokens through the Eidoo Cards program and the Eidoo Staking Account initiative in December 2019. Hundreds of these early supporters will serve as pNetwork's inaugural community base, and now have the possibility to Pre-Bet by voting on the DAO.

 About pNetwork
As the underlying architecture of pTokens, an interoperability solution for decentralized finance, pNetwork provides the basis for a truly decentralized system. Secured by Multi-Party Computing and Trusted Computing, anyone is invited to join as a network validator to help secure and shape the future of the pTokens project. DAO pNetwork is run with a governance process that is transparent and open to anyone to join. The main development team behind this network is Provable Things, founded in 2016 in London. Proven to use cutting-edge decentralized technology to provide services for modern DApps. The first Proven product launched has been the longest blockchain of the entire Oracle service industry.

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