Tokenomics, Emissions, and Taxation Schedules
TOKENOMICS
Tokenomics and emission schedules $PEAK, $PRO, and $PONDs will follow the original tokenomics of $TOMB finance. The following has been directly adapted as a placeholder.
$PRO Tokenomics
$PRO holders have voting rights for Peak Finance and Prometheus DAOs.
Maximum total supply of 7,000,000 tokens.
DAO Allocation: 1,100,000 $PRO vested linearly over 12 months.
Team Allocation: 500,000 $PRO vested linearly over 12 months.
The remaining 5,400,000 $PRO and additional tokens obtained through TX taxes may incentivize $PEAK-$METIS and $PRO-$METIS stakers for a minimum of 12 months. The rewards period may be subject to extension or alteration.
$PONDS (Bonds) Tokenomics
Supply contracts by the amount of $PEAK required to be removed from circulation to restore $PEAK TWAP above peg.
No expiration on redemption. DAO treasury must have sufficient $PEAK reserves for $PONDs redemption.
$PEAK Tokenomics
$PEAK is designed to peg to the value of $METIS.
Supply is uncapped and adjusted through contraction and expansion epochs.
EMISSION SCHEDULE
$PRO EMISSIONS
$PRO Emissions available and released linearly over 12 months:
$PEAK-$METIS LP: 3,550,000 Shares
$PRO-$PEAK LP: 1,850,000 Shares
$PONDS EMISSIONS
$PONDS are available for purchase when $PEAK falls below the 1 METIS peg. If $PEAK’s TWAP is between 1.00 and 1.01, neither $PONDS nor $PEAK will be issued.
e.g. if $PEAK’s TWAP < 1, exchange $PEAK for $PONDS will be in a 1:1 ratio.
$PONDS are available for redemption when $PEAK goes above the 1 $METIS peg.
To encourage the redemption of $PONDS for $PEAK when PEAK TWAP > 1.1 and incentivize users to redeem at a higher price, $PONDS redemption will be more profitable with a higher $PEAK TWAP value, of which $PONDS to $PEAK ratio will be 1:R, where R can be calculated in the formula as shown below:
R=1+[(PEAK(TWAP price)−1)∗coeff)]
Where coeff = 0.7
$PEAK EMISSIONS
During expansion epoch:
80% $PEAK goes to $PRO stakers in ‘The Summit’.
15% goes to the Peak Finance Sub-Treasury (AUM of Prometheus Treasury, managed by Aeacus Capital).
5% goes to development, contributor remuneration, and marketing fund.
Epoch Expansion: If there are outstanding Bonds to be redeemed, 65% of minted $PEAK goes to treasury until it meets the required amount to allow full redemption of $PONDS.
Contraction Epoch: When $PEAK TWAP peg is below 1.01, no $PEAK will print.
Taxation Schedules
There will be conditional taxation when buying or selling $PRO to build the initial capital for the Prometheus treasury and Peak Finance sub-treasury. There will be conditional taxation when purchasing or selling $PRO.
$PRO TAXATION MECHANICS
10% Fee for all $PRO buy and sell transactions. These tax structures may be temporary and conditional.
Once Prometheus Treasury obtains $1B AUM, taxes on transactions may be removed if the DAO approves that proposal.
However, whenever $PEAK is below a peg of 1, $PRO buy/sell taxes will apply regardless of AUM TVL, all of which will purchase $PONDS to drive $PEAK back to peg.
When investors purchase $PRO, they pay 10% above market value. These fees are collected in $METIS.
When investors sell $PRO, they receive 10% below market value from selling. These fees are collected in $METIS.
SELLERS:
4% of METIS used to buy back and burn $PRO.
6% of METIS is allocated to the DAO treasury.
BUYERS:
4% of METIS used to buy back and burn $PRO.
Half of the 6% of the remaining $METIS gets sold into $USDC. Both assets get sent to the DAO treasury.
INTERNAL PROMETHEUS TREASURY TAXATION
Taxes will be applied internally to the DAO treasury and external sub-DAOs. $PRO tokens obtained through internal taxation are subject to DAO proposals, either team submissions or trusted community member submissions.
10% tax on all realized profits from DAO activities used to buyback $PRO.
10% tax on all harvests from yield generating assets used to buyback $PRO.
10% from all seed investment instances where profit is realized buys back $PRO.
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