TL;DR
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Protectorate Protocol is now becoming Zaar
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This will include a token migration from $PRTC to $ZAAR at a rate of 1:1, on April 10th, 2024.
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All documentation, and associated channels will be updated to Zaar
Table of Contents
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Rebranding Protectorate Protocol to Zaar
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Imminent $PRTC -> $ZAAR Token Migration
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New $ZAAR Tokenomics
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Zaar ████ Launch
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FAQ
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Links
Rebranding Protectorate Protocol to Zaar
Since the launch of the ETH Capsule in June, 2023, Protectorate has gone on to achieve a number of market-firsts, allowing us to push the envelope for NFT Finance & trading in ways that previously were only imaginable.
We’ve successfully created set-and-forget products that allow people to earn on otherwise extremely idle assets, most notably, NFTs via our NFT Capsule, in collaboration with JPEG’d. We launched the first (and only) NFT-focused telegram trading bot, featuring a comprehensive notification system, copy-trading, access to global liquidity, making it the most liquid NFT trading venue by far.
These initial successes have laid the groundwork for Protectorate Protocol to capitalize on new market opportunities and expand its horizons. To rise to the occasion, Protectorate is becoming Zaar, accompanied by a new token, an evolution in tokenomics, and a mandate to provide NFT users with a seamless trading experience while seizing market share from industry incumbents.
Imminent $PRTC -> $ZAAR Token Migration
The process will be extremely simple. On April 10th (7 days from this post), we will launch a token migration page on the Protectorate app, allowing all $PRTC token holders to migrate their tokens at a rate of 1:1 to $ZAAR.
$ZAAR will be instantly tradeable, and the Zaar treasury will always maintain a full range Uniswap ZAAR/ETH pool, where it collects fees in perpetuity, foundational to Zaar’s protocol revenue.
Migrating to a new token is an essential step in the roll-out of a new, more-refined token model that is designed to align the long-term interests of all stakeholders and unlock the incentives flywheel to encourage (and reward) sticky usage of the app.
New $ZAAR Tokenomics
Supply
- 100,000,000 (1:1 migration from $PRTC)
Distribution
The distribution remains completely unchanged – all token holders will experience no dilution whatsoever. besides a further distinction of the usage of the Strategic Reserve, which we’ve allocated a large portion of for Zaar incentives. The Strategic Reserve will also facilitate the migration from $PRTC to $ZAAR, therefore all $PRTC currently in circulation will be migrated to $ZAAR with ease.
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Strategic Reserve - 42.5% (42,500,000)
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Incentives - 25% (25,000,000)
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Contributors - 17.5% (17,500,000)
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Investors - 15% (15,000,000)
Locking Mechanism
$ZAAR introduces a new locking mechanism, where every token holder has 2 options, as follows:
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Lock $ZAAR for 90d, receive 50% of Protocol Revenue in ETH + earn XP.
- For those who are most aligned long term with the protocol.
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Stake $ZAAR without a lock, only earn ETH rewards at a 0.25x mulitiplier, and no XP.
- For those who favor instant liquidity.
Note – Rewards Come From:
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Protocol Revenue
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Zaar Usage
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█████ ███
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LP fees (Protocol Owned Liquidity – ZAAR/ETH)
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ETH Capsule
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NFT Capsule
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XP Rewards
This locking mechanism is designed to foster value accrual for the token while rewarding high-conviction token holders. The intent is to maximise the positive flywheels for the protocol. Among the many complex token models that require users to make a commitment they may or may not regret, for $ZAAR token holders, we allow all token holders to have the luxury choice to either:
- Maximally align themselves with the protocol by locking for 90d (12 weeks), and in exchange for signalling long term alignment, receive boosted ETH and XP at a 4x multiplier.
OR
- Minimally align themselves with the protocol, by staking their tokens with the ability to instantly unstake, but receive only ETH, forfeiting XP, at a 0.25x multiplier.
Zaar ████ Launch
Brace yourself.
Meanwhile you can use the live beta https://t.me/ZaarTradingBot. You’ll also receive ███ for doing so… There may or may not be some benefits for the early adopters.
FAQ
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Wen will the migration take place?
- The migration page will go live on April 10th, 2024 – exactly 7 days from today.
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Will it be difficult to migrate my tokens?
- Not at all, we’ve made it extremely simple for all token holders (currently <1,000) to migrate their tokens. If you have any questions, please feel free to open a support ticket in the Zaar Discord server.
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What happens if I don’t migrate my tokens right away?
- No stress chief, there is no time limit to migrating your tokens
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Will there be liquidity for $ZAAR?
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Absolutely. The treasury will take all of the ETH in the current PRTC/ETH liquidity pool, and migrate it to a fresh ZAAR/ETH pool.
⚠️ NOTE: Please be aware that once liquidity has been migrated from the PRTC/ETH pool to the new ZAAR/ETH pool, we cannot guarantee the state and behavior of the PRTC/ETH LP. The Zaar team strongly recommends and endorses a direct migration of existing PRTC holdings to ZAAR using the official migration page.
Due to the decentralized and immutable nature of liquidity pools, the Zaar team is not liable for any changes or events that may occur in the PRTC/ETH pool once liquidity has been migrated. Token holders are advised to migrate their PRTC tokens directly to ZAAR to ensure a smooth transition and to benefit from the new tokenomics and features offered by the Zaar platform.
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What if I have $xPRTC staked?
- Simply unstake your $PRTC tokens, and migrate them via the designated migration page, and you’ll receive $ZAAR 1:1 with your PRTC holdings.
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What if I’ve accrued oPRTC?
- You will receive XP in place of your accrued oPRTC. This change is to simplify the overall incentives mechanism to allow for a revised rewards program.
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Will my ETH & NFT Capsules deposits need to be migrated?
- No need to migrate your deposits, the contracts aren’t being changed at all and will simply feature an upgraded design.