Raise a PINT to Polkadot’s new index token: Six top projects sign up

The supply code for the upcoming Polkadot Index Network Token, or PINT, has been made public, with half a dozen projects placing their hand up to be included within the index.

The undertaking has outlined a four-phase roadmap that it expects to culminate in mainnet launch inside three months.

According to an April 14 announcement, six of Polkadot’s main projects have already given “soft commitments” for inclusion within the index, together with Acala Network, Equilibrium, HydraDX, Litentry, Moonbeam, and Plasm.

The PINT token seeks to supply buyers balanced publicity to the rising Polkadot ecosystem, hedging the volatility of particular person projects in opposition to the broader efficiency of the sector. PINT can be accessible for commerce on decentralized exchanges in future, and might be straight minted utilizing DOT.

PINT’s builders are hoping to see the index adopted as a “treasury reserve asset” throughout the Polkadot ecosystem, providing an alternate to solely holding native tokens as treasury reserve with out the complexities related to lively treasury administration.

A council can be tasked with governing the token’s index, and a ‘Constituent Committee’ fashioned with representatives from every undertaking included within the index.

The six index hopefuls have dedicated to becoming a member of it.

The PINT Council will govern all facets of the index and oversee a native treasury that’s partially financed by accumulating charges from staked property contained inside the index. However the Constituent Committee could have veto powers on the Council’s choices.

The index is a collaborative effort between staking service supplier, Stateless Money, and blockchain growth group ChainSafe. Stateless Money will coordinate the undertaking, whereas ChainSafe will function its main growth accomplice. Cross-chain DeFi DAO, StakerDAO, additionally voted in favor of PINT’s creation utilizing treasury funds, and can obtain a share of the charges generated by the index.