The Pen-X Protocol is the digital product behind Pen-X, designed via smart contracts for organizations to integrate a decentralized pension fund straight into their payroll systems.
It enables workers and employers to contribute to a retirement pension plan without jeopardizing privacy and security.
The Pen-X Pension Fund is our underlying investment vehicle.
It's a diversified basket of assets wrapped in a secure ERC-20 token ($PXLT). We use yield farming and volatility-controlled strategies to achieve long-term retirement savings for the workers.
The Pen-X Fund is currently being built on the Set Protocol.
The core directive of the Pen-X Fund is to provide simple DeFi investment vehicles with significantly lower risk profiles than typical blockchain assets, allowing for viable long-term investment.
It is 100% backed by the underlying assets and redeemable at any time, which keeps the employee's risks as low as possible and rewards as high as possible.
Unlike traditional retirement funds, at Pen-X, employees are in control of their lock-in period to maximize their savings.
When signing up for Pen-X, employees select their desired retirement year (a minimum of 7 years from the sign-up date). While members can withdraw capital before their completion date for a fee, Long-term saving is incentivized with the Pen-X Longevity Reward Scheme.
This documentation is a working document. Inspired by the DAO Community, Pen-X will continue to expand and improve its product offerings over time.