Summary
PACE tokens are part of the royalty program for artists and collectors using the Marketplace and Art Pool. The goal with PACE is to align the incentives between artists, collectors and audiences so that all participants can make a cooperative effort to support and promote digital art.
The diagram below explains the relationship between participants and how PACE is facilitated:
Properties
- PACE tokens follow the ERC-20 standard and are issued on the Ethereum network
- Total of 100,000,000 PACE tokens will be available with fixed supply
- PACE can be stored in Ethereum wallets that support ERC-20 tokens
- PACE or oPACE is rewarded based on where the NFTs were minted. Collectors and Artists will be able to claim tokens by connecting their wallet and checking the dashboard.
- PACE can be obtained by buying and selling NFTs, staking in the Art Pool, or by providing liquidity for Ethereum and/or Klaytn liquidity pools on DEXs.
50 percent of the total supply is allocated as rewards for using the Marketplace and Art Pool.
Marketplace (25%)
- 2% of the sum spent on NFT purchases are converted to PACE and rewarded to collectors
- 2% of each NFT sold is converted to PACE and rewarded to artists
- 1% of each NFT sold is converted to PACE and rewarded to referrals (if any)
- 100 PACE is rewarded to collectors and artists on the first sale
Art Pool (25%)
- Fixed staking pool with 2% Annual Percentage Rate (APR)
- Flexible staking pools with adjusted APR range
Calculations
- Number of PACE token rewards will vary depending on the price of NFT art and the price of PACE tokens.
- Additional 20% is allocated under 'Ecosystem Liquidity' to ensure liquidity across AMM and DEX
- Price of PACE token is updated every 10 minutes, and the median price will be calculated to determine the number of tokens for rewards
Spend PACE
Marketplace
- Tiered discount for next NFT purchases
- Discounts on hardware wallet purchases
- Discounts on digital frame purchases
- New drops
- Minting fees
Art Pool
- Fixed and/or flexible PACE staking pools
- Tickets to offline/online events and exhibitions
- Exclusive exhibition rights on venues
Others
- Support your favorite artists - use PACE to promote artists and their artwork on billboards, advertisements, exhibitions, interviews, and publications.
- Digital art streaming subscriptions
Last modified 1yr ago