[introduction_banner title=”Utility Use Cases” overview=”PLS TOKEN”]

[introduction_details details=”PSL is the native currency for every function on the Pastel Network. From registering an NFT to providing governance, PSL empowers users of any kind to partake in the ecosystem. PSL can be obtained by network participants and stored, transferred, or transacted with other Pastel users in a permissionless peer-to-peer manner.”] [introduction_details details=”Token holders can stake their PSL and work to provide execution of operations, storage services, and network security by running Supernodes. Creators can issue rare digital assets and obtain perpetual royalties of up to 10% of all future sales of such NFTs. Third-party developers can design apps on top of the Pastel Network by integrating PSL seamlessly into their applications and, in turn, can charge users for services or design rewards systems – without ever having to worry about settlement specifications.”]
PSL is the native utility token that is used for:
  • Operations: PastelID Creation, NFT Registration, and Trading
  • Staking: Supernodes stake collateral and receive rewards for providing computation and validation services
  • Governance: Stakeholders can vote to determine how network resources are allocated
[extra_details title=”Deflationary Mechanics and Proof of Burn” details=”While Pastel follows a relatively simple inflationary scheme through our Emission Schedule, we have developed a Proof of Burn scheme to provide a deflationary mechanic in the system.”]
[extra_details title=”” details=”Upon every activity on the network, users are required to ‘spend’ small amounts of PSL. Certain of these functions result in PSL that is thereby distributed to a cryptophically unspendable address, resulting in a reduction of the overall supply of PSL (or PSL being ‘burnt’). Over time and as the network matures, PSL may evolve into a number of use cases for users.”]
Key network functions that result in Proof of Burn include:
  • PastelID Creation: 1,000 PSL is spent by the user
  • Art Registration: 1,000 PSL is spent by the validating Supernode
  • Trading: 2% of Ask is spent by Seller / 1% of Ask is spent by Buyer
  • Trade Ticket: 1,000 PSL is spent by Buyer
[information_readmore title=”Introduction” link=”https://pastelnetwork.wpengine.com/psl-token/introduction”] [information_readmore title=”Supply Specifications” link=”https://pastelnetwork.wpengine.com/psl-token/supply-specifications/”]
[information_readmore title=”Token Distribution” link=”https://pastelnetwork.wpengine.com/psl-token/token-distribution/”]
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