$PACT Token
NOTE: The Pacity $PACT token is intended to be utilized as a unit of exchange for the provision of services in the Pacity ecosystem, and an incentive to encourage members and providers to contribute and maintain the Pacity ecosystem. Ownership of the $PACT social tokens carries no rights, other than a means to engage with the Pacity ecosystem and vote in the Pacity Parliament to influence the DAO. The token does not have any intrinsic value, and it is the responsibility of the token recipient to maintain the token securely and protect its wallet private keys.
The $PACT utility token serves as the foundation for Pacity, by returning value through the form of dividends to contributors, and as the governance token, by using this accrued dividend for contribution as a binary determinant of voting rights in governing the DAO (owning any amount of $PACT equals one vote). $PACT will not be sold to the public or investors and holds no intrinsic value.
$PACT is designed as a cooperative rewards token used as a means of incentivizing stakeholders to engage in certain exchange activities deemed valuable by Pacity. $PACT tokens are a unit to determine the amount of exchange profits a member is entitled to if/when they are declared by Pacity’s Parliament.
$PACT is designed as a cooperative rewards token used as a means of incentivizing stakeholders to engage in certain exchange activities deemed valuable by Pacity. $PACT tokens are a unit of account to determine the amount of exchange profits a member is entitled to if/when they are declared by Pacity.
$PACT is both a utility token, as defined by the Colorado Digital Token Act of 2019, and a unit of account for determining contributor patronage in accordance with the principal attributes of cooperatives found in Title 7, Article 55, Section 101 of the C.R.S. and Colorado’s Uniform Limited Cooperative Association Act (“ULCAA”). $PACT is supplied as dividend for accumulated PCP or community milestone airdrops. Amount of $PACT determines one’s influence level governing the DAO and revenue sharing percentages.
$PACT tokens are earned as a dividend and provide the central incentive to the Pacity ecosystem. Like the treasury of a nation, the $PACT token is the platform for Pacity to return value to those that contribute to its success by lending governance in the DAO.
No $PACT will be sold to the public or investors. Governance and economic rights of $PACT are only available to the holder if they are also a member of Pacity. In other words, all rights and properties of $PACT are unlocked based on Pacity Membership, not the ownership of the $PACT token alone.
Every year 9,420 location blocks become available through auction (some blocks will be sold together to form larger spaces). For every NFT block reserved through auction, 3,140 $PACT tokens are mined to add to the overall supply.
The Pacity staking pool enables the city to reinvest in its development, while providing compound interest returns to contributors who keep their earned $PACT in the staking pool. Interest rates will be decided by DAO governance and updated quarterly. By staking $PACT, contributors earn staking rewards (additional $PACT).
Every contributor can use a referral code to invite more people to join Pacity. 20 Million $PACT is reserved to reward the people who refer the most members, providers or any type of contributor to the community.
Last modified 1yr ago