Pungo Token is the utility token utilized on Peer2group to empower its users to interact with its products while at the same time facilitating the exchange and distribution of rewards and benefits among the Pungo token holders. The Pungo token is anticipated to bring and maintain value within its network because the tokens have real-world usage and are backed by a genuine business model.
The Pungo tokens currently power ecosystems of products and services are already in existence or in the final stage of development. The products and services include Peer2Cash, which is a distributed fiat gateway, a non-custodial light SPV wallet, a trading platform and a debit card program.
Functions Of The Pungo Tokens
Ownership of the Pungo Tokens will provide the holders with a wide variety of rights that includes the right to participate in services through interacting with a product by voting, contributing and transacting. The token will also be the main value exchange means on the platform whereby some users will earn the tokens through the incentive program and others will use it to pay for services on the platform.
Similarly, the token holders will have access to new products and certain gadgets on the Peer2Trading platform. With the growth of the Pungo ecosystem, the token will receive additional functionalities on the ecosystem.
All the funds generated from projects associated with the Peer2group are deposited into a Public BuyBack fund and any token holder can access the funds by placing a Buyback request if they would like to convert their Pungo Tokens into another cryptocurrency or fiat.
Pungo Blockchain Crypto Project Benefits
The Pungo Token guarantees transparency and visibility of the Public BuyBack Fund by collaborating with Openingchain.org that is run by the Inlea Foundation, which is an independent foundation that controls the multisig account where funds generated from projects are stored. The foundation also ensures that funds are only released after the token holders sign the buyback agreement.
The tokens are guaranteed liquidity since the token holders will have access to the liquidity source where they can initiate a buy back request of their Pungo Tokens and after they sign the purchase agreement, they will receive the amount that matches the value of their tokens.
The Pungo tokens are integrated with a scarcity mechanism, which ensures that a limited amount of tokens exist at one particular time through creating a specified amount of tokens and through the Pungo token Buyback Request. These mechanisms ensure the scarcity of the tokens, which increases their demand and subsequently their value.
Funds generated by Peer2cash fiat gateway, Peer2krd crypto card loading service and Pungo app Light Wallet will be accumulated into the Public Buyback Fund to ensure that the Pungo tokens always have a real value backing them, which means that the users investment into the tokens will always be worthwhile.
Pungo PGT Token ICO Details
Parameters Of The ICO
- Token: PGT
- Token supply during ICO: 10,000,000 PGT
- Token sale date: 15 September 2018 – 15 November 2018
- Token price: 1 PGT = 0.50 USD
- Accepted payment methods: BTC, EUR, KMD, SMART
- Soft Cap: 300,000 USD
- Hard Cap: 3,500,000 USD
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Source: Bitcoin Exchange Guide