The PGM Ultra-Fair-Launch
What Would Be Truly Fair?
Not "fair" like every other project claims.
Not "community first" while VCs sit on 20% of the supply.
Not "decentralized" while the team holds the keys to a massive unlock schedule.
Actually, truly, undeniably fair. That's the PGM Ultra-Fair-Launch.
The Design Goal
A distribution without insider allocations, without vesting asymmetry, and with the backing held in the contract rather than in team wallets. Risks remain and are documented under Risks.
The Rules
1. Zero Insider Tokens
| Who | Allocation |
|---|---|
| Team | 0% |
| VCs | 0% |
| Advisors | 0% |
| Marketing | 0% |
| Hidden wallets | 0% |
| Participants | 90% |
| Liquidity Pool | 10% |
There is no insider allocation. The developer participates under the exact same conditions as every other participant.
2. 100% Immediate Unlock
No vesting. No cliffs. No linear release schedule. On October 10, 2026, all PGM unlock at once.
3. USDT-Backed
Every PGM in existence was paid for with USDT. That USDT is held in the raise contract rather than in a team wallet.
4. Direct Redemption
a) Direct Redemption: The contract contains a redeem() function. It settles PGM at exactly $0.001 USDT per PGM — first via the LP, then from the reserve for any remainder. No DEX routing by the caller, no slippage, no fee taken by the contract.
Implemented in Code. Modelled in the Solvency Proof.
b) Arbitrage consequence: Because redeem() is callable by any holder, a market price below $0.001 creates an arbitrage opportunity for third parties. This is a mechanical consequence of the design, not a price commitment by the project.
The reserve is sized to settle the outstanding PGM obligation at the raising price. See the proof for the exact invariant (R + K >= C).
5. The USDT Backing PGM is Held by the Contract
The USDT backing PGM sits in the raise contract, not in a team wallet or a founder-controlled multisig. The contract has no admin withdrawal path for that backing.
USDT leaves the backing only through the documented user-facing paths (redeem(), emergencyWithdraw()) or when the corresponding PGM obligation was removed by a sacrifice — for example when allocation was spent on the ecosystem prior to launch.
Why This Is Possible
Most projects can't do this. They need funding for:
- Developer salaries → PenguMiner: don't apply, fan project, most work already done
- Marketing budget → PenguMiner: community-driven, zero marketing tokens
- Infrastructure costs → PenguMiner: minimal, covered by game entry fees
- VC payback → PenguMiner: no VCs, no VC payback
Without that overhead, the raised USDT can remain as backing in the contract instead of funding operations.
The Ultra-Fair-Launch in One Sentence
The raising contract contains a
redeem()function that settles PGM at $0.001 USDT, implemented in deployed, immutable code.
The Redemption Path Has No External Dependencies
redeem() and emergencyWithdraw() pay USDT directly from the contract to the caller — no external router or middleman in that path. emergencyWithdraw() covers the case where finalization of the raise does not happen, allowing depositors to withdraw their USDT after the deadline. Because these paths do not touch the game-related contracts, a fault in those contracts does not affect redemption.
For the full technical breakdown, see The PGM Token Raise.
For a full check of the price floor code, see PGM Raise Contract.