Tokenomics

PLX Token

The PLX token is the native token for Parallax Finance. It serves as a utility token, facilitating coordination among Parallax contributors, the community, and associated protocols. The token's utility is centered around providing an incentive structure that encourages long-term participation in the development of the Parallax ecosystem.

In the current phase, the PLX token is primarily used for staking and voting.

Token Name: Parallax Token

Token Symbol: PLX

Token Supply: 100,000,000

Network: Arbitrum

TGE: 28 August, 2023

Token Contract: 0xc8ccbd97b96834b976c995a67bf46e5754e2c48e

Real-Time Tokenomics Dashboard 👇

Tokenomics | ParallaxParallax

Governance 1.0

The initial governance framework of PLX is designed to empower token holders and enable them to actively participate in the decision-making process. This allows them to contribute to the long-term growth of the protocol. PLX token holders have the ability to create and vote on proposals, as well as formally request the Parallax team to execute decisions with the power they are entitled to.

Parallax Governance Portal👇

Governance | ParallaxParallax

Staking and Voting

To gain voting power and receive PLX rewards, PLX holders must stake their tokens in the farming and staking vaults. The amount of voting power varies among different PLX vaults, ensuring proportional representation in the decision-making process.

Parallax Staking Page 👇

Staking | ParallaxParallax

At the current stage, for every $1 worth of PLX tokens that holders stake, they will receive the following voting rights:

• 1 vote in the 6 Months Vault

• 2 votes in the LP Farm

• 3 votes in the 12 Months Vested Vault

yPLX

The second phase will involve the transfer of governance to yPLX. This transition will enable the community to decide upon the utility and mechanisms of yPLX through governance. The yPLX token will offer various utilities, including deposit earning multipliers (boosting), sharing of protocol fees, and exclusive access to protocol perks. The exact yPLX's functionalities will be subject to governance decisions.

---

Distribution

Token Supply: 100,000,000 PLX

Name	Allocation	Conditions
Treasury	17%	10% unlocked at Genesis, 10-month vesting
Strategic Reserves	14%	20-month vesting
Team	7.5%	6-month cliff, 20-month vesting
Private Sale	6%	15% unlocked at Genesis, 1-month cliff, 9-month vesting
Airdrops	2%	12-month vesting
Advisors	4.5%	6-month cliff, 20-month vesting
Public Sale	4.4%	35% unlocked at Genesis, 1-month cliff, 5-month vesting
DAO Raise	1.6%	6-month cliff, 14-month vesting
Emissions	43%	72-month vesting

• 1.4 million PLX sent for burn on September 1, 2023

• Burn Contract