A community-driven token for SPOs of small stake pools to reward longterm delegators with, in addition to staking rewards, to further incentivize delegation.
PIGY token was created by a sole actor and was as a was first floated as an idea on the Cardano forum in May 2021 as a memecoin and #dogecoinkiller. It was then given its purpose of being gifted to SPOs of smaller stake pools for them to offer PIGY to their long term delegators as an extra reward to incentivize them and others to stake with these smaller pools, thus increasing the decentralization of Cardano. PIGY token was then airdropped to all SPOs who requested it.
The vision for PIGY token is that it is self perpetuating and gains popularity and, perhaps, value through usage. Any value it will obtain will be determined by the market and demand for PIGY tokens will be created therein.
SPOs will purchase PIGY tokens from swaps and exchanges to then use these tokens to incentive their delegators. These delegators will then sell their PIGY on swaps and exchanges….
100,000,000,000 PIGY minted
- 20% for Founder
- 25% SPOs
- 5% Reserves
- 40% Development
- 10% PR
Pig-Image tokens are tokens that allow users to mint their own pigs, in the form of different colors of the PIGY token logo, by breeding two “parent” Pig-Image tokens and blending their characteristic. To do this one needs PIGY tokens to send to the “Pig Image Service" with their Pig-Image tokens. These are not NFTs.
PIGY Oracle posts the price of assets at 12:00UTC each day. These data points currently included: SOFR, ADA price in multiple currencies, BTC price in multiple currencies, ETH price in multiple currencies, and the prices in USD of various precious metals.
There is an aim to make this oracle decentralized by using stake pool operators that are using PIGY token.