A new phase of Parrot’s development is coming, and Parrot team would like to announce the next incentive program: Parrot Fledgling. This program is designed to accomplish 2 objectives: create use cases for PAI, making it the premier decentralized stablecoin on Solana, and bootstrap pSOL, a primitive that helps secure the Solana network and makes SOL a productive DeFi asset.
The fledgling program will be slightly larger than the original hatchling program; 80,000,000 PRT will be allocated to incentivize both PAI and pSOL.
Parrot Stake Pool incentives: 20% (16M PRT)
pSOL minting incentives: 5% (4M PRT)
pSOL-USDC liquidity incentives: 5% (4M PRT)
pSOL-SOL liquidity incentives: 30% (24M PRT)
Stable swap liquidity incentives: 30% (24M PRT)
PAI trading pairs: 5% (4M PRT)
Lending markets: 5% (4M PRT)
The rewards will be divided proportionately within each category. For example, if you have 100 SOL staked in mSOL and then switch to stSOL, your rewards will stay the same. Similarly, if you deposit 100 PAI in Port and later decide to move that 100 PAI to Solend, you’d still be earning the same rewards.
These incentive categories may start on different dates, and last 30 days. PAI-USDC rewards, in particular, will start immediately after the Hatchling Incentive ends. Finally, the Fledgling Incentives will be vested over 3 months.
The Solana ecosystem is evolving at warp speed, and by necessity the incentive program will need to react to changing circumstances and problems nimbly. The Hatchling Program was promised to be 30 days, which made it hard for us to modify the incentives to fix the PAI imbalance problem in the stable swap pools, which in turn made it hard for us to raise our debt ceilings.
For the Fledgling Program, the Parrot MAY change the allocations of the incentives to different categories or create new categories. However, here are the promises:
The new Parrot Fledgling Incentives create many new opportunities to earn PRT rewards for the Parrot community. Through this incentive program, you will be able to lend PAI and earn PRT. You will be able to stake SOL and earn PRT. You will be able to farm trading pairs and earn PRT. There is likely something with the right risk profile that suits you.