Palace Finance Boadroom Launch

April 4 update – the site and socials were deleted.

New algorithmic stablecoin pegged 0.01:1 to ETH on Arbitrum.

DETAILS

• Boardroom
  • Stake $LKEY in the Boardroom to earn $pETH rewards
  • During expansion, newly minted $pETH rewards will be distributed as follows:
    • 77% — Reward to Boardroom stakers
    • 18% — DAO fund
    • 5% — DEV fund
  • Boardroom only prints new $pETH tokens when TWAP > 1.01
  • Epoch duration: 8 hours
  • Staked $LKEY is locked for 6 epochs and $pETH rewards locked for 3 epochs (every deposit/claim/withdrawal resets the lockup timer)

• Tokens
  • $pETH is the algo-stable, pegged 0.01:1 to ETH
    • Initial supply: 3,224
      • 3,024 — Genesis rewards
      • 200 — Initial liquidity (pETH/WETH)
  • $LKEY is the NFT token similar to a shares token, which can be staked in genesis and boardroom and exchanged for future Palace NFTs
    • Total supply: 2,000
    • Cost: 0.2 ETH
    • Maximum amount per wallet: 10
    • Mint funds distributed as follows;
      • 40% — DAO fund
      • 30% — pETH buyback
      • 30% —Team
  • $PBOND is bond token