The PGM Token Raise
Private and closed. The PGM token distribution is not open to the public and is not being offered publicly. This page documents how the mechanism works; it is not an offer or invitation to participate.
This design is possible because there are no team tokens, no VC tokens, and the development is already funded and in final stages. All participants have the same conditions.
Short Summary
| Period | What Happens |
|---|---|
| Now → Oct 10, 2026 | Distribution phase at $0.001 per PGM token (private, closed). 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's redeem() function settles PGM at $0.001 USDT. |
Raising Plan in Detail
From now to the 10th Oct 2026 the raising contract accepts deposits. Participation is private and limited to people involved with the project. The price for the PGM Token is 0.001 USDT. The deposited USDT is held in the raising contract.
Deployed raise contract:
0x988Fd61C834B182357E3dAdf358DE9bF0A7De336on Abstract Mainnet (Chain 2741). Source verified on Abscan.
Until the 10th Oct 2026 participants can use part of their future PGM allocation, for example to access 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.
From that point trading is open on the DEX. Because redeem() is callable by any holder, a market price below $0.001 creates an arbitrage opportunity for third parties — a mechanical consequence of the design, not a price commitment.
The raising contract holds 95% of the remaining PGM-backing USDT; the other 5% sits in the floor-protection LP position. The Solvency Proof states the exact invariant that governs this.
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.
Why This Structure Is Possible Here
For most projects this structure is not feasible, since almost every project relies on the raised funds to pay for development. As a fan project, the work has essentially happened upfront, which is what allows the USDT to stay in the contract as backing instead of funding operations.
Risks remain and are listed below and under Risks.
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. USDT can depeg, and Tether can freeze addresses — including addresses holding the backing.
- 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
The residual risks listed above are real and are not eliminated by this design. They are named here explicitly rather than left out.
What I wanted to build is a game where playing can actually be worth your time, and a token structure without insider allocations behind it. That is what this project is an attempt at.