💰 Inicial liquidity

PunkDao is backed by a basket of assets (BUSD, PUNKD-BUSD LP tokens etc). The backing assets provide an intrinsic value for PUNKD tokens and promise that the value of each PUNKD token will never fall below the backup value.

PunkDao was launched as the first DeFI 2.5 protocol on BSC, by a team of anonymous devs. KYC & audit were done before launching to ensure the safety and longevity of the protocol.

On 31 May 2022, a presale was held to bootstrap initial liquidity for the protocol.

The funds raised from presale were used as following:

• 40K BUSD and 1k PUNKD were used to initialize liquidity on Pancakewap, with a ratio of 40BUSD/PUNKD. 40k BUSD worth of LP token were generated in the process.

• 10k BUSD were bonded to the PunkDao treasury to back for the initial PUNKD supply.

• 10k BUSD were allocated for marketing and development fund to attract more investors to join PunkDao and build up our team.

• 40k BUSD will be add to the Stable treasury

The 40k BUSD worth LP token were bonded to the treasury as Protocol-Owned-Liquidity, while also providing intrinsic value to PUNKD token at the same time. Once the liquidity is bonded, it will be locked FOREVER.