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It’s very difficult to find quality projects that are still building in the bear market.
@pegonetwork’s innovative PPOS consensus mechanism, is currently revolutionising the blockchain space.
Let’s see why they deserve your attention 🧵
@pegonetwork’s innovative PPOS consensus mechanism, is currently revolutionising the blockchain space.
Let’s see why they deserve your attention 🧵
-Recently, PEGO launched its official Developer Grants Program, an initiative created to offer devs full-cycle support–from funding to user development.
Devs can now build on #PEGO with comprehensive support from the #PEGOFoundation.
Devs can now build on #PEGO with comprehensive support from the #PEGOFoundation.
This developer ecosystem Grants will screen projects into four stages before providing Grants. In this thread, I'll break down:
1/ What is #PEGONetwork
2/ What makes PEGO unique
3/ Developer Grants Policies–the 3 stages
4/Final Thoughts
Let’s dive in
1/ What is #PEGONetwork
2/ What makes PEGO unique
3/ Developer Grants Policies–the 3 stages
4/Final Thoughts
Let’s dive in
-1/What is PEGO?
PEGO is a highly autonomous, scalable, and sustainable Web3 infrastructure. It is a fully community-driven project whose community can flexibly adjust all on-chain parameters through proposals.
PEGO is a highly autonomous, scalable, and sustainable Web3 infrastructure. It is a fully community-driven project whose community can flexibly adjust all on-chain parameters through proposals.
PEGO uses the PPOS consensus mechanism, a blend of PoS and DPoS mechanisms, to allow all network participants (nodes and users) to enjoy fair treatment and rewards.
It is also EVM-compatible, making it excellent for devs looking to create scalable DApps.
It is also EVM-compatible, making it excellent for devs looking to create scalable DApps.
-2/ What makes PEGO unique? (3)
A unique identity verification system known as NFT-PNN. To become validator nodes, candidates must stake PNN, an NFT "identity card" that represents the right to participate in PEGO as a validator node.
A unique identity verification system known as NFT-PNN. To become validator nodes, candidates must stake PNN, an NFT "identity card" that represents the right to participate in PEGO as a validator node.
After staking their PNN, candidates can join in the election of formal validator nodes.
Users vote for candidates using PGTV.
The one with the highest votes become formal validator nodes.
21 formal nodes will be set up, with new candidate nodes to be continuously added.
Users vote for candidates using PGTV.
The one with the highest votes become formal validator nodes.
21 formal nodes will be set up, with new candidate nodes to be continuously added.
1. A composite economic incentive model based on the PPOS mechanism.
Voters on node elections (using PGTV) and LPs are rewarded with $PG, the native token of the PEGO network.
$PG rewards to LPs encourage long-term LP participation.
Provide more liquidity to earn more PG.
Voters on node elections (using PGTV) and LPs are rewarded with $PG, the native token of the PEGO network.
$PG rewards to LPs encourage long-term LP participation.
Provide more liquidity to earn more PG.
2. EVM Compatibility.
PEGO supports development languages such as Golang, Rust, and Solidity, enabling an open, developer-friendly environment for building cross-platform dApps.
PEGO supports development languages such as Golang, Rust, and Solidity, enabling an open, developer-friendly environment for building cross-platform dApps.
3. A DAO that is constantly optimized, primarily by the community, and that has a parameterized on-chain proposal structure.
All parameters of the PEGO Network can be modified easily through community-initiated proposals.
All parameters of the PEGO Network can be modified easily through community-initiated proposals.
-3/ Developer Grants Specific Policies-3 Stages
1. Seed Stage
Designed to support concepts & ideas, and help teams to develop practical plans.
Projects will receive professional guidance and advice, including support for market analysis, business models & prototype design.
1. Seed Stage
Designed to support concepts & ideas, and help teams to develop practical plans.
Projects will receive professional guidance and advice, including support for market analysis, business models & prototype design.
- Business model and product prototype design
Benefits:
Advice on possible business strategies and product designs based on the product concept.
Benefits:
Advice on possible business strategies and product designs based on the product concept.
- Market resource empowerment
Benefits:
Get displayed on PEGO official website ecosystem section.
Get featured on the W3Swap Launchpad, and popular advertising positions on W3Wallet.
Benefits:
Get displayed on PEGO official website ecosystem section.
Get featured on the W3Swap Launchpad, and popular advertising positions on W3Wallet.
Receive GTM resource support and participate in Telegram AMA, Twitter Space, and Binance Live as project roadshow platforms in the PEGO ecosystem community.
-Technical empowerment
Benefits:
Guidance on major technical implementation issues and PEGO chain deployment needs.
Benefits:
Guidance on major technical implementation issues and PEGO chain deployment needs.
2. Development Stage
More comprehensive resource support in addition to the seed stage.
Aim: To help the team further develop their project.
-Entry points:
Pass the security audit
Trade over 200,000U in the W3swap PG trading pair for 30 consecutive days
More comprehensive resource support in addition to the seed stage.
Aim: To help the team further develop their project.
-Entry points:
Pass the security audit
Trade over 200,000U in the W3swap PG trading pair for 30 consecutive days
-Support policy:
Obtain W3 / PNS (PEGO Name System) and other ecological core token mining weights.
-Downgrade trigger conditions:
Trading pair liquidity is less than 200,000U for 7 consecutive days.
Any major security event occurs
Obtain W3 / PNS (PEGO Name System) and other ecological core token mining weights.
-Downgrade trigger conditions:
Trading pair liquidity is less than 200,000U for 7 consecutive days.
Any major security event occurs
3. Mature Stage:
Support liquidity development.
-Entry requirements:
Pass the security audit.
Trade over 5,000,000U in the W3swap PG trading pair for 30 consecutive days
Support liquidity development.
-Entry requirements:
Pass the security audit.
Trade over 5,000,000U in the W3swap PG trading pair for 30 consecutive days
-Support Policies:
Mining weight for obtaining core tokens such as W3/W3B/W3W/PNS.
Proposals initiated by the foundation to enable the W3FT token generated by liquidity token staking in the project to be exchanged for PGVT tokens used for PEGO node election voting.
Mining weight for obtaining core tokens such as W3/W3B/W3W/PNS.
Proposals initiated by the foundation to enable the W3FT token generated by liquidity token staking in the project to be exchanged for PGVT tokens used for PEGO node election voting.
-Downgrade Trigger Conditions:
Continuous 7 days of liquidity below 5,000,000U.
Any significant security incidents.
Continuous 7 days of liquidity below 5,000,000U.
Any significant security incidents.
https://twitter.com/pegonetwork/status/1661616846985105408
-Final thoughts
I think the PEGO Developer Grants Program by #PEGONetwork is a great initiative.
The program will attract talented developers to the PEGO ecosystem and help them develop their ideas.
This thread was made in collaboration with the @pegonetwork team 🤝.
DYOR.
I think the PEGO Developer Grants Program by #PEGONetwork is a great initiative.
The program will attract talented developers to the PEGO ecosystem and help them develop their ideas.
This thread was made in collaboration with the @pegonetwork team 🤝.
DYOR.
@pegonetwork I hope this brought value to you. If you gained from it please :
Like, RT & follow for more 🙏🏽
Like, RT & follow for more 🙏🏽
https://twitter.com/552936387/status/1666082593366999046
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