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pFLT: Parasail Fluence Liquid Token

$pFLT is a liquid token representation of staked $FLT within the Parasail ecosystem. By staking their $FLT with Parasail, an equivalent amount of $pFLT is minted. These $pFLT tokens allow holders to participate in rebases, receive rewards, and incur slashing. Users can also receive $wpFLT which is a wrapped version of $pFLT that can be freely traded, transferred, or utilized within the DeFi ecosystem.

Tokenomics:​

The tokenomics of $pFLT are designed to maintain a robust, self-healing economic environment, ensuring stability, incentivization, and growth of the network. The minting and burning of $pFLT during rewards distribution and slashing events will maintain a consistent 1-to-1 balance between $pFLT and $FLT.

  • Minting of $pFLT tokens:

    • An equivalent amount of $pFLT will be minted corresponding to the $FLT staked. Stakers will receive $pFLT tokens, which are automatically adjusted to reflect any rebases, representing their share of the total staked $FLT under management.

  • Burning of $pFLT tokens:

    • $pFLT will be burned at a 1:1 rate during withdrawal or slashing events. The $FLT share claim of other stakers will be adjusted, reflected by a decrease in their $pFLT holdings during these burning events.

  • $pFLT/$FLT exchange rate:

    • 1 $pFLT will be backed by 1 $FLT under control.
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