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Poison token, introduction

Jan 23, 2023
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Poison token, introduction. Find out which ecosystem this token belongs to, its purposes, its usefulness and much more with direct access to its dedicated website.

Poison token

The Poison token (POI$ON) is the native token of the Poison Finance platform. It is a decentralized multi-chain synthetic asset (Potions). Trade stocks, commodities, ETFs on the blockchain.

Poison token, introduction:

The Poison Token (POI$ON) is Poison Protocol’s multichain governance utility and rewards token. It must be staked to vote on active polls and will be required as a deposit for making new governance polls.

POI$ON is provided as an incentive for users to farm rewards by staking LP tokens – minted by providing liquidity for POI$ON and Potions. Yield is paid to the users from POI$ON that are newly minted in the MasterCastle through annual inflation, which gradually increases the total supply of POI$ON until the end of 4th year.

Poison Protocol is a Magic Wand that lets you create Multichain Synthetic Potions, that track the price of real world assets. Synthetic Potions are intended to be used as key building blocks in smart contracts, be it a dex or a game and to bring the world’s assets to the blockchain.

Stacking rewards

From Protocol Fees

POI$ON Token stakers receive USDC token rewards every block, which are generated from protocol fees from Vault withdrawals. The protocol fees are collected from Vault collateral and are sold for USDC. The USDC tokens are then distributed as rewards to POI$ON stakers in proportion to the percentage of total stake.

From Poll Creation Fees

Whenever a new governance poll is created, an initial deposit of POI$ON tokens must be paid. If the poll does not reach voting quorum, this deposit is distributed to all POI$ON stakers proportionately.

The tokenomics of POI$ON can be broken down as follows

Ticker: POI$ON

Contract address: 0x31C91D8Fb96BfF40955DD2dbc909B36E8b104Dde

Chain: Ethereum, Bsc, Arbitrum

Total Supply: 12 610 000 POI$ON

Initial Supply: 2 250 000

There will be 3 POI$ON minted per Ethereum Block for the first 1 month and 1 POI$ON tokens minted per block afterwards for 4 years. Minting will be split between 3 chains Ethereum, Bsc, Arbitrum.

In summary:

Poison Protocol is a Decentralized Multichain Synthetic Assets (Potions) issuance protocol built on Ethereum, Arbitrum and Binance Smart Chain and soon much more. Synthetic Potions (pTokens) are collateralized by stablecoins like BUSD, USDt, USDc, DAI, MIM, tUSD, FRAX, or ibTokens like cDAI, cUSDC, cUSDT, aDAI which when locked in the Vault Contract enable the issuance of Potions. Synthetic Potions mimic the price behavior of real-world assets like stocks, commodities, etfs and give traders anywhere in the world open access to price exposure without the implications of owning or trading real assets.

The minting of Potions is decentralized and is handled by users of the protocol. Poison.Finance ensures that there is always sufficient collateral within the protocol to cover Potions.

The Poison Token (POI$ON) is minted by the protocol and distributed as an award to support conduct that secures the ecosystem. Poison Protocol ensures liquid Potion markets by rewarding POI$ON to users who stake LPs obtained through providing liquidity. Moreover POI$ON is valuable as it is can be staked to receive voting privileges and to earn a share of the protocol’s Vault withdrawal fees..

Poison Protocol is a multi-chain DeFi protocol, which means it can be accessed and interact with other decentralized applications on multiple blockchains.

Want to know more?

Poison is a project developed and steered by its community: its markets are maintained by its own users through POI$ON incentives, and the protocol evolves with new ideas through democratic governance.

Direct access to the official website


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