Pastel Network
  • Introduction
    • Pastel Overview
    • Pastel Token (PSL)
    • PSL Token Economics
    • Pastel Consensus Protocol
    • Key Features
  • Basics
    • Smart Ticket Structure
    • Fees and Burn
    • SuperNodes
      • SuperNode Staking
      • SuperNode States & Implications for Stake
      • SuperNode Operator Selection
      • SuperNode Fees
    • Governance
    • Accounts
  • Development Guide
    • Types of Pastel installations
      • Pastel Network Architecture
    • Requirements
      • Default directories
    • QuickStart: Running a Node
    • WalletNode
      • API
        • Sense API
        • Cascade API
        • NFT API
      • GRPC Interface
    • SuperNode
      • GRPC Interface
    • Pasteld Daemon
      • Pasteld CLI Implementation
      • Pasteld JSON-RPC API
    • Pastel-CLI
    • Understanding Smart Tickets
      • NFT Tickets
      • PastelID Tickets
    • Testing
    • Tutorials
      • Pastel Wallet App
    • Public Endpoints & Resources
    • Configurations
  • Sense Protocol
    • Sense Overview
    • Sense Basics
    • Building with Sense API
  • Cascade Protocol
    • Cascade Overview
    • Cascade Basics
    • Building with Cascade API
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  • PSL Use-Cases
  • Deflationary Mechanism

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  1. Introduction

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

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Last updated 3 years ago

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