The PETE Token is the life’s work of the Platoon Leader - Prickly Pete. While on his cursed exile, Prickly Pete found a highly rare chunk of stone in the Andes Mountains in Chile. Soon enough, he realised that this stone held a secret, magical spell in the form of energies that could heal. It took him more than 14 years to mint this stone and craft it into 100 million tokens, each carrying a bit of that healing energy.
All about $PETE
$PETE has extreme utility, in both the digital world as well as in real life. $PETE will be used to Mint future NFTs, Mutate into New NFTs, Play the Game…as well as buy our brand merchandise, comic strips, and the board game…in real life.
Depending on the way our Plans progress, we might require additional liquidity of $PETE. At such a point, we will introduce a staking mechanism for $PETEs, where holders can stake their coins and earn further $PETEs.
Added Utility vs Burning
Presently, based on our roadmap, we feel no need to introduce a burning mechanism to reduce the supply of $PETE and thereby, increase its value. But rather, believe in delivering added value constantly, to ensure growth in demand.
In case of an IDO in the future, to raise funds for the project, $PETE will become the governance token within the Platoonverse while another coin with a much bigger supply would be introduced to manage the growing requirements of the project.
$PETE Token distribution was initiated through airdrops to Environmental Warriors from 7th December 2021. All airdrops stopped on 31st January, beyond which our Staking was initiated from 1st February 2022. A maximum of 60% will be consumed for the Staking Purposes. Hence the staking rewards for older collections diminish as new collections emerge in the Platoon Ecosystem.
Currently, $PETE token circulation is being generated through staking. 15% of the overall supply has been allocated to a liquidity pool, which will be created in multiple stages to ensure the stability of the price of $PETE.
An additional 25% has been allocated to the PlatoonDAO Council functioning, Creator Team rewards & for promotional purposes.
Air drop and Staking Protocol