Pegaswap Foundation has now decided to issue Pegaswap Token, an ERC20 token, to build up and further nurture a cryptocurrency investing ecosystem and reward our active swappers. Pegaswap Token will be generated via Swap-to-Mine (SoM) mechanism. Inspired by Bitcoin PoW mining philosophy, Pegaswap Token (PGST) release is about to start its second half-life cycle.
Swap-To-Mine (SoM) is the first experimental token mining mechanism on DEX’s, which designed for active swappers of Pegaswap Platform. For each swap, you will be able to get a share of 25 Pegaswap Tokens in each block on Ethereum Network. The reward for each swap can be increased by staking Pegaswap Tokens for non-exactly period. For additional 20% of collected fees received by swapping in all pools, will be distributed to active stakers (no exactly % of APY, automatic convertation to PGST).
For motivation adding liquidity on Pegaswap Platform, we also planned to start Liquidity Mining Program: 10 Pegaswap Tokens will be distributed in each block on Ethereum Network during the next 30 days (further terms will be determined by the governance voting after genesis event).
Project’s tokenomics will be determined by a governance voting after genesis mining event (~15 days after launching of Pegaswap Platform).