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PHX DAO

The PHX DAO is a Decentralized Autonomous Organization that manages the PHXVerse by deciding on key parameters (e.g., setting fees and oracles, etc.) through the voting power of governance token (PHX) holders. Also, the DAO will accumulate service fees and spend them on research, development, liquidity mining incentives and protocol upgrades.

Why DAO?​

The DAO is the logical compromise between full centralization and decentralization, which allows the deployment of competitive products without full centralization and custody on the exchanges. We do not believe that it is possible to make a liquid staking protocol that is completely trustless. A DAO is an optimal structure for launching PHX as:

  • DAO is essentially a decentralized entity, which is enabling a focus on community and might offer a more socially-conscious structure and consequent decision-making;
  • DAO will be able to cover the costs of developing and upgrading the protocol from the DAO token treasury.
  • And other management activities as well if there is a technical ability

The DAO will accumulate service fees from PHX PoS Pool, which is funnelled into the insurance and development funds, distributed by the DAO.

Governance​

The PHX token governs all PHX DAO governance and network decisions to ensure its prolonged stability and decentralized decision-making to facilitate the growth of fair, and transparent liquid staking.

The governance details and vote infrastructure is still under construction. We will release more info in the near future.

PHX DAO Token​

The PHX DAO token play a key role in the PHXVerse. It is used for governance, staking, and liquidity mining. The PHX DAO token is a standard ERC-20 token. The initial supply is 100,000,000 PHX. It's address is 0x13db4686f3d1d9ec918a70ae8fbd52f82949906c The PHX DAO token is distributed as follows:

  • 50% - DAO Treasury
  • 30% - Investors
  • 20% - Genesis Team, Advisors, Future Team Members

DAO Treasury​

The DAO Treasury will be used for the following purposes:

  • Initial Airdrop to PHX v1 Stakers
  • Liquidity Mining Incentives for PHX v2
  • Insurance Fund
  • Future Incentives

Investors​

The PHX token will be distributed to investors in the following way:

  • 1M PHX sold through the IDO platform
  • Use the funds sold through IDO and an additional 1M PHX to establish initial liquidity on Swap platforms.

The rest of tokens will be reserve for future investors.

Team Fund​

The team fund will be used incentive project development and future team members. It will be locked for three months after PHX V2 launch, then will be linear release in four years.

Addresses​

  • DAO Treasury: 0xcE9722699478875e8B48e61FF01ba7318e81981F
  • Investors: 0xcb7BED2Ac689931AD7182915DfD43b42CE12764B
  • Team Fund: 0xFe678A8a48145Ad9BF64B4503abeE426cbE7185F