Pulse Wallet Token (PLW)
Introduction
Pulse Wallet Token (PLW) is the native token of Pulse Wallet.
Functions
PLW is the cornerstone of Pulse Wallet Validator Service, serving four primary functions:
Insurance Against Slashing: PLW acts as insurance, safeguarding all users within Pulse Wallet against slashing incidents. Node operators must use PLW as collateral to participate in the validator marketplace. If they fail to fulfill their duties and cause slashing, PLW collateral will be distributed to compensate the PLS holders.
Incentives for Node Operators: Node operators are essential contributors to the Pulse Wallet ecosystem, managing the technical aspects of Pulse Wallet Validators. In recognition of their services, a portion of PLW will be distributed to the best performing node operators as reward.
Value Protection for sPLS: PLW acts as a guardian for the value of sPLS (the liquid-staked PLS). Through collateralization and arbitrage, it shields sPLS from potential market losses, creating a stable and secure environment for staked PLS. This protective function builds trust in the Pulse Wallet ecosystem, assuring users that their staked positions are shielded against volatility.
Buyback and Burn Mechanism: A fraction of the staking rewards will be directed to Pulse Wallet Validator Services as service fee and in form of PLS coins. These PLS coins will be automatically utilized for purchasing PLW from the PLW/PLS liquidity pool on Pulsex, with the purchase rate determined by a time-weighted formula spanning 30 days, utilizing the fees collected during that period. The PLW acquired through this process will subsequently be sent to a burn address, permanently reducing the overall supply of PLW.
Deflationary Token
Pulse Wallet Token (PLW) is a deflationary token that will have its supply continually reduced. Every action by users within the Pulse Wallet and its dApp ecosystem will contribute to the deflation of the Pulse Wallet token.
Fees from “Gas Paid in PRC20 Tokens” will be collected to buy and burn PLW.
Fees from “Shield Transactions” (0.3% of the total transaction volume) will be collected to buy and burn PLW.
Fees from dApp affiliation will be collected to buy and burn PLW.
Fees from Pulse Wallet’s in-wallet stablecoin cross-chain services will be collected to buy and burn PLW.
Pulse Wallet will offer our Wallet SDK to projects on other blockchains so they can build wallets based on the SDK for free, with the condition that they commit to buying back and burning PLW tokens.
The buy and burn function of Pulse Wallet will permanently remove PLW tokens from circulation, creating two aspects that enhance the token’s value: automatic buying pressure and deflation over time.
Tokenomics
This section elucidates the precise allocation of Pulse Wallet Tokens (PLW) and delineates the intended utilization of each portion, along with elucidating vesting schedules for specific allocations.
• Total Supply: 1,000,000,000 tokens
• Ticker: PLW
• Blockchain: PulseChain
Treasury (25% - 250,000,000 tokens):
These tokens are set aside for Pulse Wallet’s prospective endeavors. They are subject to a vesting period of at least 2 years. In subsequent phases, their deployment may encompass sourcing liquidity for our integrated dApps, incentivizing forthcoming node operators to fortify the PulseChain network, financing developments geared toward ecosystem expansion, grants, and related initiatives.
Airdrop (50% - 500,000,000 tokens):
This allocation is expressly designated for the benefactors among our users who contributed to Pulse Wallet. It shall be impartially disseminated, with full unlocking occurring at the Token Generation Event (TGE).
Liquidity (20% - 200,000,000 tokens):
Approximately 80% of these tokens shall be allocated to provide liquidity during the token launch phase. The residual assets will be held in reserve, earmarked for future liquidity provisioning phases.
Incentives and Rewards (5% - 5,000,000 tokens):
This allocation is exclusively dedicated to the rewarding of our early adopters, stimulating widespread utilization of both Pulsechain and Pulse Wallet. Allocation and distribution shall be facilitated through a point-based ranking system.
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