Age 1

Last Updated: March 30, 2023

Objectives

Distribute pre-TGE protocol fees
Kickstart the decentralization of the protocol
Bootstrap Pine Protocol usage

Parameters

Field

Value

Age Start Time

17 Feb 2023 UTC 08:00

Age End Time

12 May 2023 UTC 08:00

Epoch Length

1 week

Epoch Endtime

E01: 24 Feb 2023 UTC 08:00 E02: 3 Mar 2023 UTC 08:00 E03: 10 Mar 2023 UTC 08:00 E04: 17 Mar 2023 UTC 08:00 E05: 24 Mar 2023 UTC 08:00 E06: 31 Mar 2023 UTC 08:00 E07: 7 Apr 2023 UTC 08:00 E08: 14 Apr 2023 UTC 08:00 E09: 21 Apr 2023 UTC 08:00 E10: 28 Apr 2023 UTC 08:00 E11: 5 May 2023 UTC 08:00 E12: 12 May 2023 UTC 08:00

Rewards Claim Time (new)

24 hours after the end of each Epoch

Total Incentive

3,000,000 PINE (1.5% of total supply)

Incentive Amt for vePine & sbPine holders

500,000 PINE (0.25% of total supply) +

8.3 ETH (Pine protocol fee accrued pre-TGE)

Incentive Amt for borrowers

1,500,000 PINE (0.75% of total supply) - 70% allocated to borrowers based on ETH amount borrowed - 30% allocated to borrowers based on value of NFTs escrowed (i.e. sum of the floor value of NFTs being used as collateral for loans)

Incentive Amt for lenders

1,000,000 PINE (0.5% of total supply), of which - 70% allocated to lenders based on ETH amount lent out - 30% allocated to lenders based on ETH amount permissioned into lending pools

Rules

Incentives will be unlocked in a linear fashion - i.e. in each epoch, 250,000 PINE will be allocated to eligible users
Staking reward will be allocated based on daily snapshots of vePINE and sbPINE holding and will be available for withdrawal at the end of each epoch.
Protocol incentives will be allocated based on hourly snapshot of borrowing and lending activities on the Pine protocol. Protocol incentives awarded can only be withdrawn at the end of each epoch.
- (new) Before each Epoch, a community vote will determine if protocol incentives rewards should be granted for the coming Epoch
The DAO has the power to vote on amending the parameters and the vesting schedule of the rewards.
Incentives not distributed could be burnt at the discretion of the DAO.
(new) The protocol and DAO has full discretion to disqualify any rewards earned via illicit activities, e.g. lending and borrowing activities using a fake NFT collection. The protocol and DAO strongly discourage any wash transaction activities.

PreviousPineDAO NextAge 2

Last updated 1 year ago

Parameters

Field

Value

Age Start Time

17 Feb 2023 UTC 08:00

Age End Time

12 May 2023 UTC 08:00

Epoch Length

1 week

Epoch Endtime

Rewards Claim Time (new)

24 hours after the end of each Epoch

Total Incentive

3,000,000 PINE (1.5% of total supply)

Incentive Amt for vePine & sbPine holders

500,000 PINE (0.25% of total supply) +

8.3 ETH (Pine protocol fee accrued pre-TGE)

Incentive Amt for borrowers

Incentive Amt for lenders

1,000,000 PINE (0.5% of total supply), of which - 70% allocated to lenders based on ETH amount lent out - 30% allocated to lenders based on ETH amount permissioned into lending pools

Rules

Incentives will be unlocked in a linear fashion - i.e. in each epoch, 250,000 PINE will be allocated to eligible users

Staking reward will be allocated based on daily snapshots of vePINE and sbPINE holding and will be available for withdrawal at the end of each epoch.

Protocol incentives will be allocated based on hourly snapshot of borrowing and lending activities on the Pine protocol. Protocol incentives awarded can only be withdrawn at the end of each epoch.

(new) Before each Epoch, a community vote will determine if protocol incentives rewards should be granted for the coming Epoch

The DAO has the power to vote on amending the parameters and the vesting schedule of the rewards.

Incentives not distributed could be burnt at the discretion of the DAO.

(new) The protocol and DAO has full discretion to disqualify any rewards earned via illicit activities, e.g. lending and borrowing activities using a fake NFT collection. The protocol and DAO strongly discourage any wash transaction activities.