Governance Token - $PRD
$PRD is the governance token within the Prodds Ecosystem, designed to empower holders with both economic and governance privileges. The two main features of $PRD are the $PRD Supercharger and Governance Rights. These features allow holders to actively participate in the platform’s success, from staking for rewards to influencing strategic decisions through the upcoming DAO.
Participation in the $PRD Supercharger and Governance Decisions is subject to minimum holding requirements and other eligibility criteria. Not all $PRD holders will qualify to participate in these activities.
DAO Setup Timeline
The full governance capabilities will be unlocked once the Prodds DAO is established, creating a decentralized decision-making body. The DAO setup process will be initiated once $PRD reaches:
5,000 independent wallet holders; AND
At least 1,000 wallets holding more than 0.01% of the total circulating supply.
The circulating supply is calculated by excluding genesis allocation wallets and the $RDM Variable Reserve wallets from the total supply, ensuring that governance is driven by a broad, engaged base of $PRD holders.
$PRD Supercharger
The $PRD Supercharger is a unique staking mechanism within the Prodds Ecosystem that provides $PRD holders with a source of economic participation. By staking $PRD in the Supercharger, holders earn a share of $RDM received by Prodds Community Wallet. This feature creates a long-term incentive for holding and staking $PRD, aligning individual user interests with the platform’s growth and sustainability.
Governance Rights
Once the DAO is fully established, $PRD holders will be empowered to vote on essential aspects of the Prodds ecosystem. The scope of governance includes, but is not limited to:
$RDM Backing Mechanism
Adjustments to the Stable Reserve portion (from 80% to 95%) and the composition of the Variable Reserve, which must include at least 5% of each asset ($POL and $PRD).
Burning Mechanism of $PRD
Proposals on token burn policies, impacting supply dynamics and long-term value.
Prodds Predict Platform Fee Rates
Decisions on platform fee rates within Prodds Predict pools, allowing the community to influence the platform’s revenue model.
Additional Proposals
Any further features, updates, or platform adjustments that the community deems beneficial for Prodds’ mission and user experience.
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