⚒
Token Purpose
PENX is Pen-X DAO’s ERC-20 governance token.
Many DAOs neglect their governance token over time. This tends to impact growth negatively. We have learned from others' mistakes.
While the PENX Governance Token will be relatively straightforward at launch, we see our governance token as a central component of the Pen-X's growth.
At launch, the PENX Governance token will have five essential utility functions:
The Longevity Reward Scheme is a central feature of the Pen-X fund. PENX tokens will be used to reward loyal members of the Fund. Read more about the Pen-X Longevity Reward Scheme.
Every week 10% of all Pen-X DAO maintenance fees will be used to buy back and burn PENX Governance Tokens.
As more people invest in the Pen-X Pension fund, the DAO's revenue will increase, meaning more PENX Governance Tokens will be bought back and burned. This redistributes DAO revenue to the community by increasing the value of PENX Tokens
Use the PENX Governance Tokens to vote on proposals within the DAO, including investment strategy, contributor responsibilities, Pen-X Improvement Proposals (PIPs), budget allocation to Units, and more.
The Pen-X DAO will use a variety of marketing schemes to fuel growth, particularly during the early rapid growth stages of the DAO. This will be done strategically to maintain value and prevent volatility.
Besides the above, we are committed to continually adding utility, interest, and incentives to the PENX Governance Token.
Last modified 11mo ago