Two Token Ecosystem
Last updated
Last updated
Picnic is a two token system, Picnic Network token (PICNIC) and Picnic Fund Token (BASKET). Transaction fees, minting fees, staking and lending rewards and triangular arbitrage opportunities drive network activity.
Increased network activity creates endless expansion potential for BASKET which is a stable value coin and unfetters the speculative value of PICNIC, a utility and governance token.
Minting Basket token requires a fee, payable in PICNIC.
As PICNIC has a limited maximum supply there is a highly speculative aspect to PICNIC relative to BASKET which has unlimited supply and a fund backing it.
The value of BASKET is assured by its underlying funds and the permissionless smart contracts that govern them. The allocation to these funds, their respective composition and their accrual strategies is all governed by those staking the PICNIC token.
