PSX Token - PsyberX Social White Paper
Abstract
This white paper provides a comprehensive technical and conceptual overview of the PSX token, a revolutionary Web3 Gaming Curation Reward token with integrated DeFi incentives. The paper outlines PSX's architecture, functionalities, tokenomics, distribution model, and its role in supporting Hive Games.
Introduction
PSX token, short for PsyberX Social, is an innovative Web3 Gaming Curation Reward token designed to facilitate the curation of quality content related to Hive Games. It employs decentralized finance (DeFi) mechanisms to incentivize community participation and drive engagement within the Hive ecosystem.
Architecture and Functionality
PSX Token Standard
PSX is a token built on the Hive blockchain, adhering to the established standard for interoperability within various decentralized applications (dApps) and platforms via the TribalDEX UI.
Curation and Reward Mechanism
PSX enables token holders to stake their holdings for curation purposes, effectively curating and promoting Web3 gaming content on the Hive platform. Users earn rewards proportional to their staked amount and the quality of the curated content.
Play-to-Earn DeFi Rewards
An essential feature of PSX is its integration with the DRIP DeFi platform. A portion of the pre-sale proceeds is utilized to acquire DRIP tokens, which are staked to generate DeFi rewards. These rewards are distributed to the top 100 PSX token stakers weekly, providing a play-to-earn incentive for the community.
Tokenomics
Total Supply
The maximum total supply of PSX tokens is set at 42 million.
Initial Distribution
The initial distribution includes a pre-sale releasing 2.5% of the total supply (1,050,000) at a rate of 0.01 HIVE per PSX token on Hive Engine (HE).
Allocation Breakdown
- 5% for initial DeFi development and service repayment.
- 5% held in reserves for server fees.
Future Allocations and Community Involvement
- 50% of the pre-sale proceeds will be used to purchase and stake DRIP, distributing DeFi rewards to the top 100 PSX token stakers and backing PSX with DRIP assets.
- 40% of the pre-sale proceeds will be used to power up HIVE, backing the token with HIVE value and compounding a 2.97% APR plus curation gains.
Community Engagement and Airdrops
- November 1st public sale will release 1,050,000 tokens at 0.02 HIVE each.
- Sustainable LVL Airdrop: Holders of LVL tokens can claim a PSX delegation at a 10:1 ratio, providing lasting support without the ability to sell these tokens.
- Founders Sustainable Airdrop: Founders have the option to claim 10,000 PSX delegations by contributing to the curation of Hive Gaming content.
- The @psyberx account will provide ongoing HP delegation, curation assistance for Hive Gaming-related, high-quality content. PSX will reciprocate with 100,000 PSX delegation and 10% of the DRIP rewards. (@psyberx will not collect staking rewards)
Transparency and Governance
- DRIP Rewards: 40% of DRIP rewards will be compounded (staked), 10% allocated to @psyberx, and 50% distributed to the top 100 staking PSX token.
- Liquid Hive Post & Curation Rewards: Liquid Hive will fund server fees, and the remainder will be utilized for token buy-backs.
- Delegation Reward Use: Periodic power-downs will maintain a healthy token economy, supporting buy-backs and development upkeep.
