How pHECTA and tHECTA works?
A mechanism to balance the right to mint HECTA of investors & team and the stability of HECTA's tokenomics
pHECTA and tHECTA are 2 tokens that rewards to investors (pHECTA) and team (tHECTA).
There are maximum of 50,000,000 pHECTA and 50,000,000 tHECTA in circulation. Each pHECTA or tHECTA can only be burnt to mint a HECTA if the following conditions are met:
- pHECTA/tHECTA owner must transfer 01 BUSD to the treasury for each newly minted HECTA.
- There are less than 10% of circulating HECTA had been minted through pHECTA.
- There are less than 5% of circulating HECTA had been minted through tHECTA.
Put simply, investors and team must commit to the vision of Hectagon until its total supply of HECTA reaches 500 million - 1 billion tokens.
At 50 million tokens active. pHECTA holders collectively have 25% governance power of the DAO. As the network grows and pHECTA holders burn their pHECTA, the total governance power of pHECTA will dwindle and giving back the power to HECTA holders.