# PEARL
PEARL is a core circulating utility token that drives PumpSpace, the central liquidity hub of the Aqua ecosystem. Moving beyond simple inflation-based distribution, it aims to provide sustainable rewards to ecosystem participants through a practical value capture structure linked to protocol funds and swap transaction fees.
### 1. Core Role and Asset Management
* Next-Generation Meme Coin & Ecosystem Asset Launchpad: PEARL serves as the primary reserve and baseline currency when trendy meme coins and new project assets onboard through PumpSpace. Once the bonding curve mechanism reaches 100% completion, 20% of the remaining liquidity is automatically supplied to the V2 pair pool. This liquidity becomes permanently locked within the protocol, creating a stable floor price.
* Liquidity Absorption and Permanent Lock-up: PEARL is utilized as a core liquidity asset within PumpSpace pair pools. The heightened trading volume generates protocol fees, which are continuously used to absorb PEARL from the open market and lock it permanently into protocol pools.
### 2. Fee-Linked Market Recovery & Deflation
* V3 Algorithmic Distribution Structure: Transaction fees generated within PumpSpace V3 are algorithmically distributed based on the following protocol parameters:
* 80%: Directly distributed as participation rewards to liquidity providers of the respective pool.
* 20%: Utilized to recover core ecosystem assets like PEARL and SHELL from the market, followed by strategic liquidity re-supply.
* Virtuous Cycle Mechanism: As the ecosystem's Total Value Locked (TVL) and overall transaction volume expand, an increasing amount of PEARL is structurally recovered from the market and converted into protocol-owned liquidity. This creates a powerful deflationary effect by continuously shrinking the circulating supply.
### 3. Token Information & Issuance Status
* Total Supply: 700,000,000 PEARL
* Initial Circulating Allocation (2.857% / 20,000,000 PEARL): 15,000,000 PEARL allocated for CLAM migration distributions, and 5,000,000 PEARL supplied for initial ecosystem liquidity.
* Ecosystem Reward Allocation (97.144% / 680,000,000 PEARL): To maximize the long-term growth of the protocol, the vast majority of the supply is strictly reserved for liquidity provision rewards and active ecosystem contributors, ensuring a fair and transparent token circulation.
### 4. Reward Policies & Liquidity Provision Conditions
The distribution of PEARL rewards is algorithmically executed based on each participant's proven on-chain ecosystem contribution:
* Pool Distribution Ratios: BWPM Single Pool (26%) / PEARL Single Pool (20%) / V2·V3 Liquidity Pair Pools (54%).
* Single Pool Staking Conditions: When supplying assets directly to the PEARL Single Pool, a strict 7-day mandatory lock-up period applies, calculated from the user's latest asset provision timestamp.
* Daily Distribution Status: Following the conclusion of the initial bootstrapping phase, approximately 7,050 PEARL is being continuously distributed daily at the current algorithmic rate.
### 5. Avalanche Network Migration
* Avalanche Contract Address: `0x08c4b51e6Ca9Eb89C255F0a5ab8aFD721420e447`
* Legacy Kaia (formerly Klaytn) ecosystem support has been fully terminated. To guarantee global asset scaling and infrastructure stability, a 100% migration to the Avalanche mainnet has been successfully completed.
### 6. Core Summary Table
| **Category** | **Description** |
| ----------------- | --------------------------------------------------------------------------------------- |
| Network | Avalanche Dedicated (Legacy chain infrastructure support fully terminated) |
| Core Role | Native reserve asset for the PumpSpace meme coin launchpad and primary ecosystem reward |
| Reward Ratios | BWPM Single Pool (26%), Liquidity Pair Pools (54%), PEARL Single Pool (20%) |
| Policy Management | Exclusively determined through DAO governance voting by BWPM holders |
> 🚨 DAO Governance and Policy Update Notice
>
> The daily distribution volumes, pool allocation percentages, mandatory lock-up periods, and fee-linked market recovery parameters specified in this document are subject to ongoing balance adjustments. To ensure sustainable ecosystem scaling, these parameters can be flexibly updated exclusively through the DAO governance voting of 'BWPM' holders, the top-tier membership NFT.
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