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Polkadot (DOT) is nearing the creation of PINT (Polkadot Index Network Token), and there have already been half a dozen Polkadot-native projects offering to be included, following the release of the Index’s source code.
Six native Polkadot projects want to be a part of the upcoming PINT index
Alongside the Index source code, Polkadot also outlined a roadmap for the project, which consists of four phases. The fourth and final phase will be concluded with the launch of the mainnet, which is expected to take place in about three months.
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However, there is a lot of work to be done until then, such as identifying the projects that will join the Index. According to the project’s announcement published yesterday, April 14th, there are six leading projects that want to be included. Those are HydraDX, Plasm, Acala Network, MoonBeam, Equilibrium, and Litentry.
How will PINT work?
According to what is known about the project, the PINT token will offer investors balanced exposure to the emerging Polkadot ecosystem. It will hedge the individual projects’ volatility against the sector’s broader performance. Furthermore, the entire index will be available for trade on DEXes at some point. Not only that, but the token will also be directly minted via DOT.
The developers have quite an ambitious goal, which is to see the index adopted as a treasury reserve asset in the Polkadot ecosystem. That way, users will have an alternative to holding only native tokens. The treasury reserve will be much simpler as it will not require active treasury management
The token’s index will be governed by a council and a ‘Constituent Committee,’ which will be formed out of each project’s representative. The council will then be in charge of governing all aspects of the index, it will oversee a native treasury that will be financed by collecting staking fees, and more. As for the committee, it will have veto powers on all decisions made by the council.