We announced the PicoSwap project on May 3rd and are back to give full clarity into the token distribution. Our decisions for this distribution had a few major considerations:
- Favor the community
- Offer strong incentives to grow the exchange
- Ensure long-term viability of the exchange
- Provide benefits for the EDG community
The 0.3% trading fee on PicoSwap must be paid in PICO token. This fee will be split between the pool LPs (0.25%), PICO holders (0.025%), and EDG staked on PicoSwap (0.025%).
There will be a total of 100 million PICO minted at Genesis. This means there will be 55 million PICO allocated to liquidity providers for the protocol. The initial allocation of these rewards will be as follows.
We will be launching the PicoSwap platform initially with only the PICO/EDG pair and no active liquidity programs. Soon thereafter the following pairs will launch with all liquidity programs activated.