# 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.&#x20;

**Token Name:** Parallax Token

**Token Symbol:** PLX

**Token Supply:** 100,000,000&#x20;

**Network:** Arbitrum

**TGE:** 28 August, 2023

**Token Contract:** [0xc8ccbd97b96834b976c995a67bf46e5754e2c48e](https://arbiscan.io/token/0xc8ccbd97b96834b976c995a67bf46e5754e2c48e)

**Real-Time Tokenomics Dashboard** 👇

{% embed url="https://parallaxfinance.org/tokenomics/" %}

## 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**👇

{% embed url="https://parallaxfinance.org/governance/" %}

## 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** 👇

{% embed url="https://parallaxfinance.org/staking/" %}

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&#x20;

## yPLX

{% hint style="info" %}
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.&#x20;
{% endhint %}

***

## Distribution&#x20;

**Token Supply:** 100,000,000 PLX

<table data-full-width="false"><thead><tr><th width="231">Name</th><th width="151">Allocation </th><th>Conditions </th></tr></thead><tbody><tr><td>Treasury</td><td>17%</td><td>10% unlocked at Genesis, 10-month vesting</td></tr><tr><td>Strategic Reserves</td><td>14%</td><td>20-month vesting</td></tr><tr><td>Team</td><td>7.5%</td><td>6-month cliff, 20-month vesting</td></tr><tr><td>Private Sale</td><td>6%</td><td>15% unlocked at Genesis, 1-month cliff, 9-month vesting </td></tr><tr><td>Airdrops</td><td>2%</td><td>12-month vesting </td></tr><tr><td>Advisors</td><td>4.5%</td><td>6-month cliff, 20-month vesting</td></tr><tr><td>Public Sale</td><td>4.4%</td><td>35% unlocked at Genesis, 1-month cliff, 5-month vesting</td></tr><tr><td>DAO Raise</td><td>1.6%</td><td>6-month cliff, 14-month vesting</td></tr><tr><td>Emissions</td><td>43%</td><td>72-month vesting </td></tr></tbody></table>

* 1.4 million PLX sent for burn on September 1, 2023
* [Burn Contract](https://arbiscan.io/tx/0x68012f1a766f44cf274a5a3d83ebe91ccd4db8fbf0bd07899721e77a44ab4571)

