The platform is known for building finance-related products for retailers to experience the transparency and beauty of investments. It is in that line that they have come up with a token ($PNL) that would incentivize investors into trading with them. The token has a wide range of applications. The team behind the True PNL platform is offering its token for sale.
TrueP&L builds on-and off-chain financial products for retail investors to achieve a beautiful and transparent investment experience.
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The Token ($PNL) Explained
The team is happy to put on sale the tokenomics project. The token can pay for collateral at a commission pool thus allowing traders to get discounts. The token goes by the name True PNL ($PNL) and is an Ethereum based ERC 20 type of token created using smart contract. The supply in circulation is almost 10 million, whereas the maximum total supply will be 100 million, out of which 26.4% would be offered for sale to users in phases. The public sale offer that will be floated would be 3.4 $PNL at $0.08 per token. They also gave a breakdown of how they were to offer the token in percentages.
Liquidity pool – 1.5%
Public sale – 3.4%
Seed sale – 5%
Advisors – 5%
Staking – 5%
Private sale – 14%
Marketing – 16%
Team – 18%
Foundation – 28.1%
Apart from staking, seed, and team that would have a specific period, the rest do not have a period specification.
Some benefits of the sale
Once people participate in a token sale, it means they become business partners. They own some percentage of the shares of that particular company. In every decision, they would be required to vote. It has both merits and demerits.
However, today we will be looking at the merits. It brings onboard expertise and experience. This augurs well with the business because, instead of sourcing experts it capitalizes on the onboard expertise, therefore, saving time and money. It breathes new life to the firm or company in that whereas a single person would sometimes be careless in running or managing a firm, the accountability and responsibility issue calls for more carefulness. Remember, they are managing on behalf of shareholders. Another aspect is that to reach to a decision of winding up or closing the firm would require voting or consensus which is not as easy as with sole proprietorship.
The process is fast and efficient if it is evangelized well. It would require the convincing of the public or investors that it would be a viable investment with good returns. Some projects require a lot of capital to undertake whereby a single or a few investors might be unable to raise the required capital. The way, the PNL is structured and projected, a lot of capital would be required to complete the project. Therefore, this is the only way that would generate the required capital.
It breaks the hurdles and norms of equity capital raising procedures, thus simplifying the procedure. It facilitates an all round eco-system where ideas are exchanged. It also enlarges the market scope, the shareholders or partners come from diverse locations of the globe. There is every possibility that they would introduce the products or services to their friends or fellow investors.
$PNL token sale would be successful if:
There are several reasons for a successful token sale. Therefore, for them to succeed, they ought to consider the following;
Being focused on where they are going, how they will go there, and with who? They should be seeing the long-term aspect and outcome of the business that investors would be interested in.
Ask the question, is it aimed at solving an existing or a future problem? Is the purpose relevant? And if so a practical application is one that answers those questions. They need to challenge themselves on how to achieve that.
Another crucial aspect is who would spearhead the sale. Will they hire new talent or train the existing workforce? Without a qualified capable and experienced team, it would not be possible to achieve much. It could turn out to be a failure.
The kind of business model being used also comes into play here. Some businesses do not require the selling of tokens or ICO. However, in this case, True PNL qualifies for the token sale. The reasoning is very simple, they are carrying out a huge project that requires a lot of resources and input.Also, product is ready and that’s a good thing having a ready product before conducting any sale.
More features $PNL token
The token would be both off and on chain utility. There are several benefits that the above features will offer. As previously stated, the token would be used as a mode of payment. It would be used as a payment medium or collateral at the commission pool.
The tokens would be used for farming and lending. They would be able to redeem funds.
The transaction fee charges would be reduced for those using other True PNL products.
The contributors would benefit from value-added benefits that result in rewards on the following activities, portfolio creating challenges, trading competitions, and Algos hackathons. It would be used as collateral in DeFi investments. It would translate to DeFi products fee reduction that uses the True PNL system.
It would be used for liquidity staking for decentralized finance products or services.
Finally, they would be used to reward users for contributing to the True PNL application.
The project timelines
The first quarter of 2021: Seed sale should be completed in this period. At the same time, the network and platform should be developed. Finally, the designing of a True PNL token ($PNL) should be done in this quarter.
The second quarter of 2021: would see the launching of DeFi products via Polkadot substrate. Also there will be Robot strategy framework and release of Binance services. It is during this period, that the public/ private token sale will take place. Finally, there will be launching of the PNL token staking program.
The third quarter of 2021: would see the growth and development of the ecosystem within the True PNL platform.
The fourth quarter of 2021: would see the implementation of impact mining, launching of community ETF, and introducing more exchanges for the off-chain utility.
Follow True P&L’s media channels to stay up to date with the latest news:
Official website: https://truepnl.com/
Telegram – https://t.me/truepnlchat
Medium – https://truepnl.medium.com
Twitter – https://twitter.com/truepnl
LinkedIn – https://www.linkedin.com/company/truepnl/