PUNKDAO
It is a currency backed by multi-asset stablecoins. It is a currency of which the treasury and reserve are protocol controlled. It is a currency driven by a community-governed protocol.
PUNKDAO is based on the 50/50 stablecoin reward system, whereby the reward for each rebase is paid 50% in PUNKD and 50% in stablecoin.
The percentage paid in stablecoin will be paid from the stablecoin treasury, which will obtain its funds from the purchase of bonds.
The percentage that is paid in PUNKD goes directly to your main balance in sPUNKD, while your balance in BUSD will be stored on the platform, with a vesting time, which ensures that you are not affected by strong market variations.
The stable-coin reward is calculated at the time of rebasing, for example if you have 50 PUNKD with a market price of $50 each, and we assume 100,000% APY at the time of rebasing, you will get 0.5 PUNKD and $25 BUSD.
The system for releasing your stablecoin is as follows: initially you will have the option to release 10% of your accumulated coins, the rest will be unlocked over a period of 30 days, at a rate of 3% daily.
Note: The vesting period for your stablecoins will restart when you make a new deposit.
PunkDao will present a control over deposits in which your minimum deposits must remain on the 32 Epoch platform, but don’t worry, you can use the emergency withdrawal button to withdraw your investment, if you use this option, you are waiving interest generated in the time you kept your deposit.
