ChainSafe announced they will be developing PINT or known as Polkadot Index Network Token in collaboration with staking service provider, Stateless Money and DeFi organization, StakerDAO.
We're excited to share that the @stakerdao community has approved our proposal to build the @polkadotindex (🍺PINT) with @ChainSafeth
Learn more 👇https: //t.co/KKS8DpZE1K
- Stateless_Money (@MoneyStateless) April 8, 2021
The features introduced by this token will expose investors to assets and projects on a wider scope and in the Polkadot network.
Not only that, the Polkadot index token also allows parachains to choose to allocate a portion of their tokens to PINT which will provide more benefits including:
Protect the uncertainty of project tokens while looking forward to the overall improvement of the Polkadot ecosystem without the need for active capital management
Access to finance from PINT treasury for Parachain Lease Offerings (PLO), which can be expensive in most cases
There are four organizational structures of PINT:
ChainSafe will get a key developer partner for PINT
Stateless Money is responsible for PINT’s coordination efforts
The PINT Council comprising 7 Polkadot ecosystem experts will focus on its governance
The Constituent Committee consists of one representative from each project responsible for evaluating and vetoing the decisions of the PINT Council
So far, there are already six great projects ready to be involved in this index and represent the Constituent Committee including Acala, Equilibrium, HydraDX, Litentry, Moonbeam and Plasm.
PINT can be traded on a decentralized exchange (DEX) when launched later and can be mined using Polkadot’s native token, DOT. At the time of writing, DOT is trading at $ 42.95, down more than 1% in 24 hours.
However, there is still no official launch date. But it is expected to air in the next three months.
