The PLMS token and its uses
The PLMS token
The PLMS token serves as the primary medium of exchange within the Polemos platform and ecosystem. Its purpose is strictly to facilitate interactions on the platform and access other Polemos services.
PLMS is the native, cryptographically-secure fungible protocol token of Polemos (symbol PLMS). It functions as a transferable representation of governance and utility attributes specified in the protocol and code of Polemos. The token is designed exclusively for use as an interoperable utility token within the ecosystem.
PLMS is a functional multi-utility token which will be used as the medium of exchange between participants on Polemos in a decentralised manner. The goal of introducing PLMS is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on Polemos. It is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. PLMS does not in any way represent any shareholding, participation, right, title, or interest in the Polemos or any entity associated with Polemos, the Distributors of the PLMS token, their respective affiliates, or any other company, enterprise or undertaking, nor will PLMS entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Panama, Singapore or any relevant jurisdiction. PLMS may only be used on Polemos, and ownership of the same carries no rights, express or implied.
PLMS incentivizes active participation in the Polemos ecosystem by rewarding users based on their contributions and engagement. Users receive additional PLMS based on their actual usage, activity, and contributions, such as the frequency and volume of transactions on Polemos. PLMS incentives are not awarded to users who do not actively participate or engage with the ecosystem, ensuring rewards are directed to those contributing to Polemos's growth and community engagement.
Using PLMS
Token Payments on the Polemos Platform
All payments for rental services, rewards, subscriptions, honor boosts, merchandise, and other offerings within Polemos will be made using PLMS tokens. The pricing of these services in PLMS may be periodically adjusted based on the current secondary market price of the PLMS token to maintain consistent USD pricing over time.
Users will have the option to purchase PLMS tokens using digital currencies or credit cards for easy access on the platform, either directly on-site (potentially through a third-party provider) or via various distribution points yet to be determined. Efforts are underway to ensure an active token market with consistent liquidity and convenient purchase options.
Beyond using tokens for platform services, holders can provide liquidity to the protocol and other users. While maintaining ownership, staking token holders temporarily relinquish access to their tokens. This contribution allows stakers to participate in DAO governance and qualify for platform rewards, enhancing their engagement and benefits within the ecosystem.
Earning PLMS
To incentivize contributions to the protocol, Polemos will distribute PLMS tokens as rewards to contributors. These reward tokens will originate from either surplus tokens generated from operations (i.e., profit) or a designated pre-surplus rewards pool.
Our objective is to maximize the rewards distributed to contributors. To achieve this, we aim to maintain a favorable ratio of cost to revenue once we are profitable. Adjustments to these targets can be proposed and voted upon by the PolComm to ensure alignment with our strategic goals.
Community Rewards
Community members can earn PLMS tokens by making significant contributions to the Polemos project. The activities eligible for rewards and the amount of tokens awarded will change over time.
As an initial set, the following activities would be considered for community rewards:
Game item lending: members who consistently provide sought after items to the Armory may be eligible for additional PLMS rewards over and above their rental earnings.
Game item borrowing: active users of the Armory may be rewarded with additional PLMS tokens. Users will in any case accrue Honor points and achieve discounts with higher Honor status.
Honor ranking: higher Honor ranks may be eligible for PLMS rewards to recognize active engagement with and promotion of the Polemos platform.
Advocacy: community services such as moderation, content creation, active and appropriate engagement in user forums, assistance with marketing, referral of users or game partners all represent valuable services eligible for PLMS rewards.
Staking
Rewards are determined based on the amount staked and the duration of the commitment. At the conclusion of the staking period, the tokens initially staked are returned. Stakers receive rewards in PLMS tokens, which are fully liquid and can be restaked, used for transactions, or sold as needed.
Staking rewards are distributed regularly to staking wallets using the following formula:
[number of tokens staked] x [weight based on the committed period]
Each staking event, such as taking earned rewards, is treated individually and displayed independently on the staking summary page of the site. Each event receives its respective reward distribution. Users have the flexibility to select the optimal combination of staking amounts and durations that suits their individual circumstances.
Staking weight determines both the distribution of rewards and the voting power of participants.
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