pNetworkPrice

(PNT)

pNetwork is a decentralized cross-chain routing protocol designed to enable the seamless movement of assets across different blockchains. It achieves this through the creation of "pTokens," which are 1:1 pegged versions of underlying assets like Bitcoin or Ethereum. This allows users to utilize their assets in various DeFi ecosystems regardless of the native blockchain. Originally launched by the Provable Things team, the project has transitioned to a decentralized governance model managed by the pNetwork DAO.

PNT serves as the native governance and utility token for the pNetwork ecosystem. Its primary functions include: 1) Staking within the DAO to participate in governance and vote on protocol proposals; 2) Earning rewards for active participation in the decision-making process; and 3) Incentivizing node operators (validators) who secure the cross-chain bridges. By holding PNT, users contribute to the security and decentralization of the bridging infrastructure while gaining a voice in the project's future development.

PNT tokens are available for trading on several platforms. While previously listed on various other exchanges, users can currently find PNT on LBank and decentralized exchanges such as Uniswap. As the project continues to evolve its cross-chain infrastructure, users should ensure they are using supported platforms that maintain liquidity for the token. Always verify the contract address when using decentralized platforms to ensure you are interacting with the official PNT token.

In November 2022, a configuration error allowed for the minting of excess pGALA tokens on the BNB Chain. pNetwork described the action as a "whitehat" operation intended to secure the liquidity pool before external actors could exploit it. This event resulted in market disruption and led to a legal dispute with Gala Games. While pNetwork implemented a recovery plan and distributed some funds to affected users, legal proceedings regarding damages continue. The project now focuses on its V3 infrastructure to improve security and prevent similar occurrences.

Users earn rewards by locking their PNT tokens within the pNetwork DAO. The staking mechanism is designed to reward long-term commitment; therefore, rewards are often subject to a "multiplier" that increases the payout based on the duration of the lock-up period. Participants must actively engage in governance by voting on proposals to be eligible for these rewards. This system ensures that those who have a stake in the protocol's success are the ones making the critical decisions regarding its operations and future upgrades.

Peg-in and peg-out are the core technical processes of the pNetwork bridge. A "peg-in" occurs when a user sends a native asset to a secure multi-party computation address, which then triggers the minting of an equivalent amount of pTokens on a different blockchain. Conversely, a "peg-out" is the process of burning those pTokens to release the original native asset back to the user's wallet. These transactions are secured by a network of validators to ensure the 1:1 peg is always maintained and assets are moved safely across chains.