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Government tokens

Paykik Government tokens are digital certificates and instruments of DAO Paykiken Geo that provide their holders with ownership rights over all the assets, projects, and development of the DAO. Like a digital key for a web platform and forum, a Paykik token is a mechanism for direct participation in the management of DAO Paykiken Geo, providing its bearer with voting rights and the ability to make proposals or suggest any initiatives.

The smart contract of the tokens was made using Solidity 0.51-c8a2 and fulfills the Tether TRC20 standard, inheriting a set of interfaces and libraries from the TRON blockchain network. The overall quantity of Paykik tokens released in mainnet is equal to 2 000 000 with full circulation deliverance. The maximum number of decimals supported by the token is equal to eight.

Paykik Government tokens are a component of the “multi-signature withdrawal” algorithm of the DAO Paykiken Geo. This algorithm allows the initiation of a transaction of DAO financial assets only after a platform vote (signature collection) is conducted and supported (signed) by a simple majority of the Paykik holders. The multi-signature-withdrawal algorithm safeguards DAO Paykiken Geo assets against embezzlement and irresponsible usage by providing the DAO members with direct access to the asset control tools, without the involvement of a third party.

The sale/purchase of Paykik tokens

The mechanism of sale/purchase is executed through the SWAP smart contract using the Paykik/USDT pairing with open-type variables. This allows anybody to validate the actual liquidity and linked smart contracts.

In the foundation of the price algorithm lies a formula of geometrical progression (bn+1 = bn * q), as well as its arithmetic progression representation (an = 1 + (q-1) * S) in the code of the smart contract. The price of each token is determined by the price-forming formula:

P = 1 + 0,000001(USDTPool),

where P – current token price, USDTPool – current Governor smart contract balance.

The initial balance of the Governor smart contract is 1 USDT and has a growth in proportion to the Paykik tokens that enter free circulation and profits generated by DAO Paykiken Geo. The initial distribution of the Government tokens stipulates automatic price correction by the decentralized SWAP algorithm in a range from 1 USDT for the first token up to 6.05 USDT for the last token available for exchange.

In order to keep Paykiken Geo decentralized, the maximum purchase amount is limited to 7 999 Paykik per one user. To decrease speculative activity, the USDT payout amount from the reverse sale of the Government tokens is subjected to 1% commission hold.

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