Pastel Token (PSL)

The PSL token (“PSL”) serves as the native, digital cryptographically-secured utility token of the Pastel Network. By running on a specialized, purpose-built blockchain, PSL is the foundation for accessibility. Inherently, PSL empowers the permissionless, borderless economy for NFTs and Web3.

PSL Use-Cases

Network Operations: Generate a PastelID, Mint NFTs, Submit Tickets, and Perform Open-API Requests

Stake: Operate a SuperNode and stake collateral in exchange for providing computational resources, validation, and security services

Governance: Stakeholders are able to initiate and vote on various proposals

Deflationary Mechanism

Upon core network operations, a percentage of each tx-fee is distributed to a cryptophically unspendable address, resulting in a reduction of the overall supply of PSL ("Proof of Burn").

Key network operations resulting in Proof of Burn:

• PastelID Creation

• NFT Registration

• NFT Activation

• NFT Trade

• Open-API Sense Request

• Open-API Cascade Request