Getting Involved

PL^G will soon be actioning a Token Generating Event, which will allow investors to effectively forward-pay for a PL^G software license. This will allow early-stage investors to benefit from an active role in the network’s consensus mechanism and be fully-licensed to build upon and utilise the PL^G mainnet.

How Will the PL^G Token be Used?

 

PL^G is an ERC-20 token that you’ll be able to convert into validation tokens when PL^Gnet launches later in the year.

Investors with validation tokens will also be able to participate in the consensus process and earn usage tokens, which will come from the fees received from processing transactions on PL^Gnet. To achieve consensus, at least 51% of validation tokens need to be staked.

How Will the PL^G Token be Used?

PL^G is an ERC-20 token that you’ll be able to convert into validation tokens when PL^Gnet launches later in the year.

Investors with validation tokens will also be able to participate in the consensus process and earn usage tokens, which will come from the fees received from processing transactions on PL^Gnet. To achieve consensus, at least 51% of validation tokens need to be staked.

To Participate:

To participate in the consensus you will need to set up a PL^G node and secure your private key – PL^G software will handle the rest. During each block window, nodes communicate with each other to vote which transactions should be in the next block. The more validation tokens you’ve staked, the more weight your node’s vote will carry, and the greater proportion of the usage token you’ll receive. 

To learn more about the token and the consensus process please see our whitepaper.

What is a Token
Generating Event?

The primary difference between an Initial Coin Offering (ICO) and Token Generating Event (TGE) is that an ICO regularly involves an exchange of tokenised equity of ownership of the organisation, whereas a TGE generally involves the pre-purchase of a tokenised software license relating to a product or service.

Another difference between an ICO and a TGE is the level of due diligence that both the project, and investor, need to undergo before the token is launched. Unlike an ICO, a TGE requires that each investor to undergo extensive Know Your Customer (KYC) and Anti Money Laundering (AML) accreditation before they can participate – ensuring a safe token sale for everyone.

The project members are required to present their project ideas, an outline of how they intend to use funds collected, the mechanism for distribution, usage of cryptocurrency and necessary legal documentation.

To Participate:

To participate in the consensus you will need to set up a PL^G node and secure your private key – PL^G software will handle the rest. During each block window, nodes communicate with each other to vote which transactions should be in the next block. The more validation tokens you’ve staked, the more weight your node’s vote will carry, and the greater proportion of the usage token you’ll receive. 

To learn more about the token and the consensus process please see our whitepaper.

What is a Token
Generating Event?

The primary difference between an Initial Coin Offering (ICO) and Token Generating Event (TGE) is that an ICO regularly involves an exchange of tokenised equity of ownership of the organisation, whereas a TGE generally involves the pre-purchase of a tokenised software license relating to a product or service.

Another difference between an ICO and a TGE is the level of due diligence that both the project, and investor, need to undergo before the token is launched. Unlike an ICO, a TGE requires that each investor to undergo extensive Know Your Customer (KYC) and Anti Money Laundering (AML) accreditation before they can participate – ensuring a safe token sale for everyone.

The project members are required to present their project ideas, an outline of how they intend to use funds collected, the mechanism for distribution, usage of cryptocurrency and necessary legal documentation.