PNDO Token

How does PNDO work?

Overview

PNDO is the token at the core of the protocol's fee mechanism. PNDO has a fixed initial supply. It can only be burnt, and never minted. It’s always more optimal to not burn PNDO because of the future expected rewards from the protocol.

Fee Mechanism

When a user withdraws tokens from the pool, by burning pALEO tokens, a 10% fees on these rewards goes to Pondo’s Rewards Pool.

PNDO holders can redeem their PNDO for the ALEO credits in Pondo’s Rewards Pool proportional to their holdings. PNDO holders send their PNDO to the Pondo Protocol. The Pondo Protocol will burn those PNDO tokens and withdraw a proportional amount of ALEO credits from the protocol to send back to the original PNDO holder.