What Is pDollar Share (SPDO)?
An algorithmic stablecoin on Fantom Opera, pegged to the price of ½ $DAI (0.5) via seigniorage. pDollar Share believe pegging to a decentralized stablecoin will provide higher stablecoin liquidity into Fantom Opera and expanding Partial Finance’s Ecosystem at the same time. You can stake your $PDO/$sPDO/$PARTIAL/$PSHARE LP in the Farms to earn $sPDO rewards and stake your $sPDOs in the Boardroom to earn more $PDOs. The $PARTIAL algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity.
The protocol’s underlying mechanism dynamically adjusts $PARTIAL’s supply, pushing its price up or down relative to the price of ½ $FTM. Due to the price of $FTM increasing dramatically over the months, pegging to a full $FTM value has been more challenging since the USD value of the token has been increasing. Partial.Finance believes in the potential of Fantom Opera, and has chosen to align its mission to both provide value to and derive value from $FTM’s future growth.
pDollar Share Storage Key Points
|Coin Name||pDollar Share|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
PBOND – Partial Bonds
pDollar Share main job is to help incentivize changes in PARTIAL supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of PARTIAL falls below 0.5 FTM, PBONDs are issued and can be bought with PARTIAL at the current price. Exchanging PARTIAL for PBOND burns PARTIAL tokens, taking them out of circulation (deflation) and helping to get the price back up to 0.5 FTM.
These PBOND can be redeemed for PARTIAL when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for PARTIAL when it is above peg, helping to push it back toward 0.5 FTM.
pDollar Share are one of the ways to measure the value of the PARTIAL Protocol and shareholder trust in its ability to maintain PARTIAL close to peg. During epoch expansions the protocol mints PARTIAL and distributes it proportionally to all PSHARE holders who have staked their tokens in the Boardroom.
Boardroom on Debt Phase
Debt Phase take place on the expansion epochs that start after a contraction period where there are still PBONDs to be redeemed. 65% of Expansion during Debt Phase is allocated to the Treasury Fund to prepare for the PBOND Redemption. This amount is still reserved whether or not pDollar Share holders are redeeming bonds or not. Once PARTIAL in treasury is sufficiently full to meet all circulating bond redemption, expansion rates will resume to normal.
When can I buy PBOND (Bonds)?
PBOND can be purchased only on contraction periods, when TWAP of PARTIAL is below 0.5. Every new epoch on contraction periods, PBONDs are issued in the amount of 3% of current PARTIAL circulating supply, with a max debt amount of 35%. This means that if bonds reach 35% of circulating supply of PARTIAL, no more bonds will be issued.
PBOND TWAP (time-weighted average price) is based on PARTIAL price TWAP from the previous epoch as it ends. This mean that PARTIAL TWAP is real-time and PBOND TWAP is not.
Where can I buy PBOND (Bonds)?
You can buy pDollar Share if any are available, through the Bond on partial.finance, anyone can buy as many PBONDs as they want as long as they have enough PARTIAL to pay for them. There is a limit amount (3% of PARTIAL current circulating supply) of available PBONDs per epoch while on contraction periods, and are sold as first come first serve.
Why should I buy PBOND (Bonds)?
First and most important reason is Bonds help maintain the peg, but will not be the only measure use to keep the protocol on track, more on that on DAO Fund section. PBONDs don’t have a expiration date, so you can view them as a investment on the protocol, because long term you get benefits from holding bonds.