## What is $POKT? ## The universal RPC base layer token. ### Economics: POKT coordinates key ecosystem actors, and powers the decentralized RPC network . Gateways and Node Runners use the token to service the ever-growing demand for on-chain data. - Node runners must stake $POKT (currently 15,000 POKT) to operate a single node. - Gateways must pay an operator fee in $POKT per relay ($0.00000085) - Every week the aggregated operator fees from Gateways are burned by the POKT Network Foundation. Read More: https://docs.pokt.network/learn-about-pokt/the-economics -------------------- ### What Network is $POKT on? $POKT is the native token for POKT Network, the universal RPC base layer chain, it is also available on Ethereum Mainnet as $wPOKT. Our [native bridge](https://wpokt.network/), allows you to securely move POKT onto Ethereum mainnet. Making it possible to access the POKT ecosystem directly from the comfort of [Uniswap.](https://app.uniswap.org/explore/tokens/ethereum/0x67f4c72a50f8df6487720261e188f2abe83f57d7) | Chains | | ------ | | POKT Network | | Ethereum Network | | Coming Soon... | ### POKT is first and foremost a utility token. - POKT is used to incentivise and facilitate operating POKT Nodes and, Gateways - POKT allows you to act as a Liquidity Provider for the - Staking POKT is a way to ensure that vital digital infrastructure is provided through a network that is owned and governed by its users. ### The history of POKT POKT Network was launched to address the centralization issue in the RPC layer of the Web3 stack. POKT, launched its mainnet on July 28th, 2020 with 650M POKT tokens created at genesis. The amount of POKT minted is directly proportional to the number of data relays and transaction fees in a given block, with the compensation divided between service nodes, validator nodes, and the POKT Network DAO that governs the protocol. ----------- #### $POKT token distribution: ![image](https://hackmd.io/_uploads/H1g-vyKW0.png) ### POKT Today The vast majority of POKT's supply is now liquid and circulating, with most tokens - almost 1b (and counting) of the current supply - distributed permissionlessly since POKT Network’s mainnet launch on 28 July 2020. The mechanism to achieve distribution - POKT Network’s version of a fair launch - occurred, much like Bitcoin's, by issuing POKT rewards to those staking POKT as node runners to serve RPC requests and as validators to secure the network. The latest supply schedule for POKT is dictated by the [ARR proposal](https://forum.pokt.network/t/pup-32-accelerating-the-road-to-revenue-arr/4494) that passed on 5 July 2023. **This schedule targets an average mint rate of 220,000 POKT per day**, which varies based on the 7-day trailing number of relay requests to the network as per the [Accurate proposal](https://forum.pokt.network/t/pup-29-a-cadence-change-to-updates-of-rttm-adjustment-for-target-emissions-accurate/3777) (which includes the calculator used to update the mint rate weekly). **All POKT minted in each block is distributed as follows:** - 85% to the node runners for serving the relays. - 5% to the validators for securing the network. - 10% to the DAO treasury. #### Supply projections: *Note: this chart is based on the current cap, we are targeting deflation by the end of 2025, more information on this will be available soon.* ![image](https://hackmd.io/_uploads/SJ7GdkKZR.png) ![image](https://hackmd.io/_uploads/r18EO1Kb0.png) [Sources on Token economics](https://docs.pokt.network/learn-about-pokt/the-economics) --------- ### Getting $POKT There are numerous ways to purchase or earn **$POKT** and, we are always working on increasing token availability and liquidity across chains and exchanges. #### Centralised Exchanges: You can purchase $POKT on 14 exchanges (and counting), including: * [Upbit](https://upbit.com/exchange?code=CRIX.UPBIT.BTC-POKT) * [Gate.io](https://www.gate.io/trade/POKT_USDT) * [Kucoin](https://www.kucoin.com/trade/POKT-USDT?rcode=rPH7VCS) * [MEXC](https://www.mexc.com/exchange/POKT_USDT) * [Bybit](https://www.coingecko.com/en/exchanges/bybit_spot) * [Coingecko listed exchanges](https://www.coingecko.com/en/exchanges/bybit_spot) * [CoinMarketcap listed exchanges](https://coinmarketcap.com/currencies/pocket-network/) ### Getting $wPOKT: To make POKT more available we created wPOKT, an Ethereum Mainnet token that bridges to Pocket Network. This can be most easily accessed via our Uniswap pool. Our roadmap includes plans to make POKT available on other EVM bridges in the future. wPOKT (wrapped POKT) is similar to WETH or WBTC and you can learn more here. [Learn more](https://www.ledger.com/academy/what-is-wrapped-crypto) - [Bridge POKT to wPOKT on Ethereum Mainnet.](https://wpokt.network/) - [Trade wPOKT on Uniswap.](https://app.uniswap.org/explore/tokens/ethereum/0x67f4c72a50f8df6487720261e188f2abe83f57d7) #### Over The Counter (OTC): Over-the-Counter (OTC) trading desks are white-label markets operated by trusted intermediaries who match buyers and sellers. They are typically used for large volume trades. A number of OTC desks serve the POKT community and can be found [on the POKT forum.](https://forum.pokt.network/t/overview-of-otc-markets/629) #### Earning POKT: There are various ways to earn $POKT: - Running Nodes will earn you POKT rewards. - Grants, contracting, and participating in the POKT DAO. --------- ### Self Custody POKT or wPOKT We recommend self-custody when possible as it is part of [our DNA](https://docs.pokt.network/learn-about-pokt/our-dna) to support open source and unstoppable data. Below are the official guides on storing, and securing POKT. #### wPOKT on Ethereum Mainnet You can self custody on a browser wallet, or on a **Ledger** hardware wallet. If you already have a hot wallet like Metamask, Coinbase wallet, etc. you can buy, hold and stake wPOKT on your Ethereum wallet with no extra steps. For more info on Ethereum Mainnet $wPOKT: [Read the Guide.](https://docs.pokt.network/pokt-token/wrapped-pokt-wpokt) If you do not have a browser wallet, fret not, creating one is simple, you can learn what they are, how they work, and basic security concepts [here.](https://www.bankless.com/guide-to-metamask) Once you have a working wallet return to this guide. #### POKT Mainnet If you want to interact with the POKT Network you'll need a native POKT Wallet, currently there are 3 wallets you can use, and 1 currently in development. **Ledger Hardware Wallet:** If you own a Ledger hardware wallet, you can now interact with POKT Network via the [Nano App](https://support.ledger.com/hc/en-us/articles/12976051037853-Pocket-POKT?docs=true) Our full guide to install and using the POKT Nano App is [here.](https://docs.pokt.network/pokt-token/hold-pokt-in-a-wallet) **NodeWallet:** [NodeWallet](https://docs.decentralizedauthority.com/nodewallet) is an open source, chromium browser-based POKT Network wallet built by Decentralized Authority, the team behind Node Pilot. NodeWallet was started as a POKT Open Priority (POP) project from the POKT Network Foundation. Our full guide to install and use this wallet is [here.](https://docs.pokt.network/pokt-token/hold-pokt-in-a-wallet) [Video Guide.](https://drive.google.com/file/d/178wdz9FFbQyCy1IyHeL6j1dUm_aqnPDo/view?usp=sharing) **POKT Wallet:** You can use the [official wallet web app](https://wallet.pokt.network/) to create and manage your wallet. This wallet is a strong choice for holding your POKT but has limited interaction with other websites and no staking functionality. Step-by-step guide available here. [Video Guide.](https://heady-cocoa-538.notion.site/Creating-a-Pocket-Wallet-55089120b1bc49a9a33df8f892c3415a) ### Embeddable Iframe chart: ``` <script type="text/javascript" src="https://files.coinmarketcap.com/static/widget/currency.js"></script><div class="coinmarketcap-currency-widget" data-currencyid="11823" data-base="USD" data-secondary="" data-ticker="true" data-rank="true" data-marketcap="true" data-volume="true" data-statsticker="true" data-stats="USD"></div> ```