The PGM Token Raise
"Hey Bro, best invest ever! You can't lose with it, as the price always returns to the starting price if it should drop below." - an investor
Yes, exactly that is our goal. And it becomes possible as there are no team tokens, no VC tokens, and the development is already funded and in final stages. Every investor has the same conditions.
Short Summary
| Period | What Happens |
|---|---|
| Now → Oct 10, 2026 | Raising with $0.001 per PGM token. Beta version of the game goes live. |
| Oct 10, 2026 | 100% immediate PGM token unlock. Official launch of the game. Version 1.0 |
| Oct 10, 2026 → | The raising contract guarantees a floor price of $0.001 via redeem(). Any PGM can be redeemed for $0.001 USDT anytime. |
Raising Plan in Detail
From now to the 10th Oct 2026 the raising contract is open. Everyone with a wallet can participate. The raise price for the PGM Token is 0.001 USDT. The invested USDT become locked in the raising contract.
Until the 10th Oct 2026 investors can decide to use some of their future PGM allocation, for example to participate in the beta version of the game and other features that are currently in concept phase.
On the 10th Oct 2026 the PGM become claimable. 100% immediate unlock. Except allocation that was already used in the beta version of the game (if you are a player). All proceeds from the beta are carried over to the full version.
On the 10th Oct 2026 a liquidity pool is formed:
| Component | Location | What's In It | Purpose |
|---|---|---|---|
| Start Price | $0.001 | — | The price at which PGM launches |
| Price Discovery LP | Below $0.001 → ∞ | Additional PGM (= ~10% of max supply) | Enables unlimited price discovery |
| Redeem Reserve | Raising contract | 100% of remaining PGM-backing USDT | Backs every PGM at $0.001 via redeem() |
- The pool is a concentrated liquidity pool with two separate positions (NFTs): one for floor protection, one for price discovery.
- Both liquidity NFTs are locked in contracts — they cannot be removed.
- "Remaining PGM-backing USDT" = all raised USDT, minus the USDT behind any PGM allocation that was sacrificed (e.g. for beta participation or Infinity Staking). In other words: exactly the amount of USDT needed to buy back every PGM token in circulation at the starting price.
Now the trading starts. Some investors might want to leave and sell their token quickly. Some people might want to join and buy PGM. If the price ever drops below $0.001 on the open market, anyone can buy PGM cheap and redeem at the contract for $0.001 — natural arbitrage keeps the price at or above the floor.
As the raising contract holds 95% of remaining PGM-backing USDT, it is possible to always return to the price of 0.001 USDT until 95% of all PGM given to investors are sold. The missing 5% are in the floor protection LP which "buys" token anyway. And even if the unlikely scenario were to occur where 95% of all issued tokens were sold, the remaining 5% could still be used as floor protection LP to bring the price back up to 0.001 USDT.
Floor Invariant
The floor works because these rules hold in the code:
- Sacrifice reduces the USDT reserve AND the PGM obligation by the exact same ratio — no net loss to the floor.
- Excess USDT is auto-forwarded during redeem when the LP returns more than the floor price — only genuine surplus, never floor backing.
- Trading fees collected from LP positions were never part of the floor backing — they are additional income.
- The AddressBook-resolved routers (Shop, Game, Staking, Badge, TradingFee, ExcessUSDT) only receive sacrificed funds, fees, and genuine excess. They cannot access the floor backing.
- redeem() pays USDT directly from the contract to the caller — no AddressBook, no external router involved.
In short: even if every router address pointed to a malicious contract, the floor redemption mechanism remains intact.
Investment Protection
Using this methodology, the risk of investors losing money can be reduced to an absolute minimum. Residual risks still exist, however, and these are discussed in a section at the end.
The methodology for PenguMiner is definitely crazy good. And for most projects, it's also not feasible, since almost every project relies on funding in some way. But as a fan project, the work has essentially happened upfront. And that's what makes this absolutely insane fundraising mechanism and the resulting investment protection possible.
Residual Risks
- The project runs on the Abstract Chain. Theoretically, the chain could be shut down, go down, or something else could happen.
- The project uses USDT as its stablecoin. Theoretically, something could happen to USDT.
- The project uses the Pengu token; theoretically, something could happen to it.
- A DEX is used to set up the liquidity pools, i.e., their contracts.
- The USD on its own is a risk, as fiat can theoretically hyperinflate.
- One might say not using wBTC, ETH or Pengu as backing coin instead of USDT is a risk (or a missed opportunity)
A Personal Note
Let's be real: the residual risks listed above are risks most of us take with literally every crypto project ever invested in. USDT could depeg, a chain could go down, a DEX could have a bug — most of us that ever invested in a crypto project accepted all of these before, and probably 99.99% even without thinking about it or even knowing that these risks exist. Nearly nobody in crypto considers these things risky, maybe even because these nearly never happen. I just wanted to name them nonetheless.
My wish is to prove that near risk-free crypto investment is possible. And at the same time help to revive crypto gaming by showing that profitable games are possible. I have this dream since my childhood of having a game where you can earn enough by playing so that it becomes your job. And now I create exactly that!