Pungo token is the digital token that Peer2group uses to empower our users to interact with our products, while facilitating the distribution and sharing of rewards and benefits to Pungo token holders.
Pungo token is issued in a fixed, finite, noninflational amount by Blocktech Services LLC (from now on referred to as the Company) registered in Tbilisi, Georgia. Pungo is a 100% premined token. The premining happens a few days before the token sale. No other tokens will be issued after the creation event. Pungo token fuels a whole ecosystem of services and products that are already functional or in late phase of development.
Pungo token has been designed considering several properties that deliver a high quality product for the token based economy:
The token based economy is a paradigm shift and we are proud to be leading the change. We consider that tokens with real usage and backed by a genuine business model will gradually bring and maintain value within our network
Pungo token has certain properties that provide utility within software and other products that implement it:
As the project grows, we intend to maintain it in a positive feedback loop. New usages will be given to the token by projects integrating it. More existing products and services using Pungo token ensure a solid ecosystem and this, among other mechanisms, leads to increased token valuation over time.
The Public BuyBack Fund is escrowed in multisignature accounts by a reputable Foundation (Inlea) through the Openingchain Project. The Foundation performs a public scrutiny of the stored funds signed operations (fund deposit & withdrawals). The Foundation only allows funds to be withdrawn for the purpose of buying back Pungo tokens