Explaining PING’s Core Utilities and Sonar’s Network Adoption Model

TL;DR

  • PING has multiple use cases and will be the native currency of the entire platform — acting as fuel for a plethora of interactions/transactions.
  • Users will be incentivized to hold/stake PING to unlock progressive tiers — leading to exclusive access to advanced features as well as rate slashing for any fees on the platform.
  • Platform contributors will be rewarded for actions that add value, foster growth, and maintain the quality of all services provided.
  • Businesses will use it to access premium API endpoints and development tools.
  • PING will serve as the native currency for the Sonar DappStore (Developers publishing on the Sonar DappStore will monetize via several revenue models — one-time purchases, subscriptions, and more.)

Sonar Ecosystem Theory and Design

  • Motivation for users to invest/trade/hold the token (PING growth)
  • Motivation for users to help in fostering adoption (Ecosystem Growth)
  • Motivation for creators to build value for the ecosystem (Ecosystem + Business Growth)

Token Utility and Use Cases

  1. Transactional value
  • Gas for transaction-based functions.
  • Use of premium features in native apps.
  • Monetization models for 3rd party apps in the Sonar DappStore.
  • Early access to new features.
  • Access to advanced tracking and automation features.
  • Discounts on any paid service (transactions, gas-based features, subscriptions…).
  • Voting rights.

Growth Drivers

What about governance?

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