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.
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.
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.
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.