PILLS token
"Free your mind."
The $PILLS token
- $PILLS is our governance token and will be the only token used to farm Neo Pools (allowing you to stake to receive platform revenue), as well as various other features in the future.
- $MORPH will be used to mint $PILLS through a burning swap. All $MORPH used to mint $PILLS will be burned directly.
- The ratio of $MORPH to $PILLS will begin at 1:1 for an initial period of 5 days. This ratio will increase by 0.30 every 30 days.
For example: If $PILLS minting was introduced around October 28th, the mint ratio would be at 1:1 until November 2nd, at which point it would increase to 1.30 $MORPH to mint 1.00 $PILLS. This ratio would remain at 1.30 to 1.0 until December 2nd, at which point it would increase to 1.6 $MORPH to 1.0 $PILLS.
The number of $MORPH emitted will be consistent and continuous, however, due to the increase in ratio, less $PILLS can be minted every 30 days.
$PILLS is one-way, meaning you cannot convert $PILLS back to $MORPH through the swap once minted. $PILLS will also be the only token with a pool-2 ($PILLS-$MIM). The only purpose of $MORPH as an emissions token will be to mint $PILLS.
We believe that this two-token model will provide much more actual value to the protocol as well as providing longevity.
We aim to honor our holders of the first 2 million $MORPH with the initial 1:1 swap period, and we encourage everyone to do so when it’s live!
Last modified 1yr ago