Everything you need to know about the Penumbra launch:

In this blog post we'll cover the following topics thoroughly
- Three-stage launching process
- Tokenomics (Airdrop, genesis supply, inflation)
- $UM Staking
- Penumbra DEX

▶️ Staged Launch:

For the Penumbra main net to be fully functional it has to go through the following three launching phases:

1) Phase 0:

• The initial validator set has found the genesis block

• New validators can join the network

• Airdrop claimants can check their balances and stake to a validator

  => We're currently in this phase

2) Phase 1:

• Penumbra's IBC module gets enabled via a governance vote

• This does not enable IBC transfers yet, but merely allows IBC connections to other chains to be created

3) Phase 2 (Full Functionality):

• IBC functionality will be activated via another gov. vote

• Activation of the Penumbra DEX

• Price diescovery of the $UM token begins

▶️ Tokenomics:

• Genesis supply = 100M tokens

• 16% of the supply goes out to the community via an airdrop

• 25% to the community pool

• Investor and team tokens are locked (2-3 year lockup with a one year cliff)

IAN = Institute for Applied Numogrammatics

IAN is a Cayman foundation dedicated to supporting the Penumbra ecosystem and protocol. It's an independent entity, that will engage in grant-making activities.

▶️ Penumbra Staking:

• $UM staking is fully private with validator-specific liquid-staking tokens

• Inflation is fixed by governance, starting at 2% p.a. (this minimizes excessive rewards for locked holders seen on other Cosmos chains)

• Staking is fully non-custodial; users retain sole custody of their tokens

• Unbonding period: 21 days

▶️ Penumbra DEX:

• MEV minimization by eliminating transaction ordering

  => All trades are submitted in the same block and executed in a single batch with a common price.

  
  

• This might lead to intra-chain arbitrage, hence the DEX autonomously performs arbitrage txs at the end of each block to correct mispriced positions.

  => All arbitrage proceeds are burned 🔥

Disclaimer

This article is intended to educate readers about certain topics and should not be considered financial advice in any way.