Push Tokenomics - $PUSH
Token economics (or tokenomics) is a fundamental piece in Web3 projects that have their own token, we will divide it into two aspects: the incentives that determine the distribution of the token and its utility that will influence its demand.
Push Protocol is a decentralized communication layer for Web3 that has its native token $PUSH, in this post we dive into all aspects related to the token, currently 67.42% is still undistributed 🎉.
Spanish version of this article.
Features of $PUSH token
Let's see the main specifications of $PUSH token:
The $PUSH token follows the ERC-20 standard.
Maximum supply 100,000,000 $PUSH token (currently: 32,584,071 $PUSH are in circulation). Being a limited supply it is considered deflationary in the long time.
This amount circulating is currently backed by +8.5 million dollars.
The $PUSH token was deployed on Ethereum network.
It has +5000 holders.
Push Token Utility
Let's see what makes $PUSH token so important in the protocol, among them, we can mention:
Liquidity Rewards: contributing liquidity in Uniswap ETH/PUSH you will receive a fee for each transaction that is made according to the percentage of participation that you obtain. Anyone can put their $PUSH in the pool, it currently has 150k $PUSH that provides liquidity to the market.
Push Channel: to create a channel you need to stake 50 $PUSH, this helps to create a channel, avoiding the creation of spam channels by sending notifications. This does not limit that possibility, but it is a way of discouraging the attack.
Securing the Network: Push Protocol currently manages its own nodes that facilitate communication using Proof of Stake, this means that they use a number of $PUSH tokens to stake and act as validators, it is to leave your tokens as a guarantee. If you do your job correctly as a validator you will be rewarded, if you try to commit fraud or are not in sync with the consensus you will be penalized.
Push DAO and Governance: Each $PUSH token represents a vote like 1 $PUSH = 1 Vote, taking into account the number of holders, there are +5000 accounts that can vote on each of the proposals that are published.
Even publish their own proposal, all decisions in the future will be made based on DAO feedback. In addition, you can delegate their votes so that they can vote for you.
Push Fee Pool: The holders, the participants, will be rewarded for all the fees that come from the activities in the protocol that will follow a freemium model, the longer a user has their $PUSH tokens, they will receive a greater reward.
Network utility: to send information through the Push communication channels a commission will be charged in $PUSH, this encourages more validators to join the network and make it safer and faster. Charge for making changes to channels such as activating it, deactivating it, changing information and other features that will be implemented.
Push Token Distribution
Taking into account the use of the token and that there are a total of 100 million tokens. Also, it is important to know how they will be distributed, nobody will feel comfortable if the majority of the percentage belongs to a few accounts.
Additionally, it could be vulnerable to price manipulation or they can dominate the votes, distribution is key for the utility to have its value.
According to the Push Protocol team, upon completion of the total distribution, it will end as follows:
The valuable thing is the percentage that will be allocated to the community, where multiple initiatives have been created for the contributors of Push Protocol.
Anyone can buy the token and be part of this percentage, but Push Protocol main strategy is a win-win relationship with the community, the community contributes, builds and that is why these initiatives currently exist:
These are from initiatives that are available. But, there will also be more to come in the future, such as:
Push Nodes
If you want more information on how to participate to win $PUSH tokens, I invite you to subscribe to my channel Push Earn, I send every opportunity to win $PUSH token.
Conclusion
Push Protocol has proven to be one of the projects that are interested in growing in the community, that want to involve it as DAO citizens.
Bringing multiple initiatives to reward the community that are contributing and those that are participating.
As the Push Protocol team add new services for new use cases, expanding to other blockchains accordingly adds more utility to the token.
The $PUSH token economy is designed to generate a circular economy among all participants, collaborators, and contributors. The outcome will be very exciting to see 100,000,000 tokens circulate and see a community committed to the future of Push Protocol.