The P2P token is the native token of the Joint Protocol to be used as a governance and incentive token within the Joint protocol. With the goal to unite the Joint Protocol and DroidPD ecosystems, 10% of the P2P supply has been allotted to the DroidPD NFTs. This allocation is to be distributed to every one of the 10,000 Droids randomly and based on the composition of traits.
How much P2P was allotted to DroidPD?
DroidPD NFT has been allocated 100,000,000 P2P tokens (10% of supply).
How much P2P will a Droid be entitled to?
Each trait that makes up a Droid has a small allocation. Each Droid gets the sum of P2P allocations assigned to its traits. The rarer the traits, the higher the allocation.
Can I stake my Droid?
No, we do not provide a staking option for the Droid itself. However, its P2P token allocation is automatically and permanently staked in the FeePool, where it will earn a share of Joint Protocol's revenue.
Is a Droid's P2P allocation claimable upon mint?
No. Droid holders must claim the P2P allocation by calling the allocate function.
Is P2P allocation claiming free?
No. When the allocation phase begins, holders must purchase their P2P allocation at market price.
Why is P2P allocation claiming not free?
Droids with P2P tokens gain the ability to participate in the governance of the Joint Protocol. Additionally, they will also receive a share of protocol fees. Therefore, it is only fair that holders interested in these utilities acquire their voting power just like their counterparts - P2P token holders. Moreover, making it free could affect Joint Protocol's security since acquiring 10% of the voting power will cost almost nothing.
When will I be able to claim P2P allocation?
We plan to enable the allocate function when the Joint Protocol enables revenue sharing.
What happens after I claim my Droid's P2P allocation?
The new P2P tokens are minted and auto-staked to begin earning a share of protocol revenue. Your Droid will also be eligible to participate in protocol governance.
What happens to my allocation when I transfer/sell my Droid?
The new owner will control the P2P stake; they will have access to existing and future protocol revenue. Also, governance ability will be transferred to the new owner.
Do newly minted Droids come with Energon?
Yes, each Droid is allocated a random amount of Energon and P2P tokens. While the P2P tokens must be claimed via an ETH deposit, the Energon can be freely accessed. Although, Energon transfer is currently disabled for now.
How much P2P is allocated to a Droid?
A Droid is entitled to the total sum of the Energon associated with each trait it comprises.
Supposing a Droid has three (3) traits where:
- Trait A is assigned 10 P2P
- Trait B is assigned 5 P2P
- Trait C is assigned 30 P2P
The Droid will be allocated a total of 45 P2P. The rarer the trait, the higher the P2P allocation.
Can I withdraw the P2P?
No. The P2P allocation is permanently staked; this means the Droid will earn protocol revenue share and participate in governance forever.
Does P2P make my Droid valuable?
Yes. At the very least, a Droid can be valued based on the market value of the P2P token it is entitled. For example, if a Droid holds 10,000 P2P worth $10,000, that Droid is equivalent to a staked token holder with 10,000 P2P tokens because they both have the same governance power and would earn similar protocol revenue share. P2P allocation gives holders a factual variable to determine the value of their NFT instead of relying on subjective concepts like rarity and branding.