PawZone Token (PAW) to Launch on Shiba Inu Dex

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PawZone Token (PAW) to Launch on Shiba Inu Dex

PawZone Token (PAW) is coming to Shiba Inu dex, ShibaSwap.

PawZone, a Shibarium-based project, has unveiled plans to launch PAW, its native token, next week on ShibaSwap, Shiba Inu’s decentralized exchange. The PAW token is expected to introduce functionality and utility to the PawZone projects built on Shibarium.

The announcement said the launch would be fair, as it is “the most decentralized approach” for releasing the token.

We are pleased to announce that our $PAW token will be deploying next week on ShibaSwap! Moreover, it will be a FAIR LAUNCH. We believe this is the most decentralized approach for the #ShibArmy. pic.twitter.com/fYUfNY9zMw

— PAW (@PawZoneToken) March 15, 2023

As previously highlighted, PAW is expected to serve as the governance token for the PawZone DAO. Accordingly, it will be needed by community members who wish to vote on proposals in the PawZone ecosystem.

Besides the governance functionality, the PAW token will also have some utility within the PawZone projects. The PawZone team has promised that the token will not interfere with the utilities of the native Shiba Inu ecosystem tokens.

Recall that the PawZone team plans to launch its official NFT marketplace Pawzaar and the Shiba Inu Gaming Guild on the Shibarium network. Users will be able to purchase NFTs on the Pawzaar marketplace using the PAW token, in addition to several other supported assets.

Moreover, PawZone will be releasing its dedicated staking platform dubbed Pawfi. Holders of the PAW token will get an opportunity to stake their tokens on the platform, contributing to liquidity and earning rewards in PAW. Users can also earn PAW by trading on Pawzaar and participating in the Gaming Guild.

Data from the official PawZone roadmap reveals that the team plans to initiate the liquidity pool (LP) allocation to several decentralized exchanges immediately after the token’s launch. The liquidity incentive rewards will be deployed after this event, and the token airdrop distribution will follow.

The token is expected to have a total supply of 1 trillion, but 50% of its supply will be burned at launch, per information from the PawZone website. Furthermore, 20% of the supply will go into locked liquidity.

The PawZone token (PAW) should not be confused with the Pawswap token (PAW). The latter is the native token of Pawswap, an upcoming decentralized exchange on Shibarium.

Source: ethereum.today

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