㊗️$P2A Token

5 ▪ $P2A Token — Fuel & Credibility for the P2A DAO

“Skin‑in‑the‑game is the only real diligence.” — Nassim Taleb

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5.1 ▪ Token Identity

Field	Value
Ticker	$P2A
Standard	SPL Token‑2022 (Solana token‑extensions)
Decimals	9
Initial Supply	1 000 000 000 $P2A (fixed cap)
Mint Authority	DAO‑controlled Timelock PDA (2‑of‑3 multisig + governance override)
Freeze Authority	None — immutably set to Pubkey::default() after TGE

The Token‑2022 standard enables native transfer fees and metadata extensions, allowing us to hard‑code a 0.05 % burn on every treasury “buy‑back” cycle without wrapping contracts.

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5.2 ▪ Dual‑Layer Incentive Model

1. $P2A (Liquid) • Transferable, listed on Solana DEXs, used for governance weight, staking collateral and fee payment.

2. vP2A (Velocity Score, Soul‑Bound) • Non‑transferable SPL token minted/burned each epoch based on risk‑adjusted alpha delivered by an Agent. • vP2A boosts both discovery ranking and raw $P2A voting power (up to 2×). • Represents earned merit; cannot be bought, only generated or lost.

Together they answer: “Who has capital at risk?” (staked $P2A) and “Who actually performs?” (vP2A).

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5.3 ▪ Primary Utilities

Domain	Utility	Mechanism
Staking	Agents stake $P2A against their PDA to unlock AUM quotas; Peers stake to lower protocol fee from 10 bp → 4 bp	Locked in Stake Vault PDA; slashed on bad behaviour or severe underperformance
Governance	Propose/vote on fee curves, treasury spend, risk modules, new DEX routes	Realms + SPL Governance; voting power = staked $P2A × (1 + vP2A booster)
Treasury Flywheel	50 % of protocol fees auto‑market‑buy $P2A on OpenBook ↦ burn or send to insurance	Maintains scarcity & backsstop pool
Discovery Boost	Stake tiers unlock algorithmic score multipliers in search ranking	Anti‑sybil: must also exceed vP2A threshold
Insurance Pool Collateral	Treasury converts part of collected $P2A into stablecoins; $P2A holders can stake to earn yield + earn priority compensation rights	Reduces tail‑risk, yields protocol security budget
Developer Grants	DAO pays core contributors, audit firms, and open‑source bounty hunters in $P2A	Aligns contributor upside with protocol health

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5.4 ▪ Initial Allocation & Vesting

Bucket	Cliff	Vesting	Release Driver
Contributors	12 mo	Linear 36 mo	Git commits & milestone NFTs
Strategic	6 mo	Linear 24 mo	Market‑making & partnership KPIs
Community	none	Emitted via reward schedule	Agent performance & staking LPs
Insurance	none	Locked	Only claimable for valid incidents

• All cliffs enforced by time‑locked vesting PDAs.

• DAO can extend but not shorten vesting via governance.

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5.5 ▪ Emission Schedule – “Proof‑of‑Value” Mining

The Ecosystem bucket (38 %) streams out over 8 years:

Emission rates decay as circulating supply grows, mirroring the decreasing marginal need for token incentives as network effects strengthen.

Distribution Split per Epoch

Sub‑Pool	% of Epoch Emission	Trigger
Agent Performance Rewards	55 %	vP2A score share
Peer Loyalty Staking	25 %	Average vault utilisation × stake
DAO Working Capital	10 %	Flows straight to treasury PDA
Dev Grants & Bug Bounties	10 %	Multisig‑guarded grant vault

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5.6 ▪ Burn & Buy‑Back Logic

• Trigger: Whenever treasury SOL balance > 12 months runway + 20 % buffer.

• Action: Program spells swap SOL → $P2A via Jupiter TWAP route, sends 50 % to burn PDA (immutable) and 50 % to Insurance Pool.

• Governance Override: DAO can vote to redirect burn portion to long‑term liquidity if required.

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5.7 ▪ Governance Mechanics (SPL Governance)

1. Proposal Creation — Any address with ≥ 100 000 staked $P2A + vP2A ≥ 1 000 can create proposals.

2. Voting Window — Default 3 days; can scale 1–7 via proposal.

3. Quorum — 4 % of circulating $P2A stake.

4. Vote Weight — weight = staked_$P2A × (1 + vP2A_boost) where vP2A_boost = min(1, vP2A / 10 000).

5. Execution — Once passed, proposals become executable as Solana upgrade instructions from a timelock PDA (≥ 2 days), giving community time to react.

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5.8 ▪ Compliance & Treasury Transparency

• Real‑time Vesting Dashboard — Vesting PDAs expose get_vesting_info for every bucket; front‑end plots cliffs and unlock speed.

• SPL Memo Tagging — All treasury outbound transfers carry a memo referencing the passed proposal ID, ensuring forensic traceability.

• Audit Trail — Quarterly Merkle root of every treasury tx stored in Arweave and referenced on-chain.

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Take‑away: $P2A isn’t just a reward token; it is the operating system of the P2A DAO—governing who earns, who decides, and how the protocol self‑funds its long‑term resilience on Solana.