What is pGYRO
pGYRO Futures Options
Operating a project is neither cheap nor free; everything has a cost. To help us pay for development, marketing, audits, etc., we held a private funding round with a few individual investors that we knew and trusted.
Because GYRO cannot be pre-mined, we offered pGYRO as a precursor derivative of GYRO. Holders have the option to mint GYRO by burning pGYRO and providing the intrinsic value of GYRO (1 USD).
Team, investors and advisors’ pGYRO cumulatively vest as 10% of GYRO supply. For example: If 1m GYRO circulating supply, a maximum of 100k pGYRO can be redeemed. At 10m GYRO supply, a maximum of 1m pGYRO is redeemable.
Because the redemption of pGYRO is based on supply, this means that holders can only completely redeem their vested pGYRO when circulating supply of GYRO is ~ 5b. There is a lot of upside potential for pGYRO holders; but it is dependent on the actual growth of the protocol.
If an investor purchased 1m pGYRO and the circulating supply is 1m GYRO; the formula for calculating the amount an investor can redeem is:
(Amount of shares purchased / Total amount of shares) x (Circulating Supply x 2%) = Amount redeemable
(1m pGYRO / 450m pGYRO) x (1m GYRO x 2%) = 44.44 pGYRO redeemable
Team: 400m pGYRO and 7% supply
Investors: 50m pGYRO and 2% supply
Advisors: 50m pGYRO and 1% supply
DAO: 500m pGYRO and no supply cap (Community can vote on this)