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Ecosystem and Economy

PUNK Token

PUNK tokens are essential for the operation of Punkpoll, representing both the platform's functioning and the individual's economic rights. These utility tokens hold economic value and are used as economic incentives (e.g., rewards, profit distribution). Each user can mine 100 PUNK tokens only once through the social graph authentication process.

PUNK TOKEN
  1. PUNK Token Mining : Punk tokens are mined through an 'authentication mining' method by the subscribers. When a user joins Punkpoll, 100 PUNKs are mined just once, and these remain in a 'Lock-up' state until the user's identity is verified by at least three friends. Once the subscriber receives verification from three friends via the social graph authentication method, these tokens are unlocked and become available for use. Update 2023.12
  2. Token Distribution: Mining rewards of 10 to 20 PUNKs are distributed to verified subscribers, with 1 PUNK donated to charity, 10 PUNKs allocated to the initial platform developers and operators, 9 PUNKs distributed for service operations and marketing, and to DAO partners, with the remaining 60 PUNKs allocated to the Punkpoll liquidity pool.
  3. Token Usage: The plan is to enable the use of voting and survey services on the PunkPoll platform worldwide with the purchase of PUNK TOKENs. Rewards are paid to voting participants, and fees necessary for platform operation are covered.
  4. Token Burn: As the user base grows, a portion of the fees paid to the operating system will be regularly burned to manage the inflation of PUNK tokens.
  5. Liquidity Management: The liquidity pool maintains a reasonable exchange rate between PUNK tokens and fiat currency or other cryptocurrencies, ensuring the stability of the platform.
  6. Governance Role: PUNK token holders participate in the platform's governance, contributing to the ecosystem's stability and sustainable development.