The Utility of PTNX Tokens
The PTN/PTNX utility tokens enable location proofs to be requested via Platin's Proof of
Location (PoL) protocol on the blockchain, or to enable the coupling of and representation of geographical
information within secure digital assets.
The application of incentives to Platin's Proof of Location protocol is one of the insights that founded
Platin, and is based on game theory models that are working in other cryptocurrencies. They both encourage
actors to nurture Platin's strong, safe, peer-to-peer operation and discourage bad actors by punishing those
who act maliciously.
Platin's fungible utility token, the PTN, with its smallest unit pli, is the primary continuously operating
incentive unit on Platin's blockchain. PTN is fungible, meaning it can be exchanged for other currencies,
empowering it to incentivize and mold the behavior of platform participants. Varying amounts are rewarded to
nodes that run Platin Policies (with their associated PALs) of varying complexity. A simple policy pays
fees. An elaborate policy, such as one requiring AI-powered location history analysis or zero knowledge
credentials, rewards higher fees. Baking these fees into Platin's consensus and incentive structures ensures
that the Platin ledger does not become bogged down with low value, high bandwidth work or malicious attempts
create artificial bottlenecks.
Nodes can earn PTN by participating in attestation and secure location witnessing. Secure beacons, whether
standalone or integrated into IoT devices, can continuously earn PTN over time. The rate of earning
with the number of Platin policies that request a validation from that beacon. Therefore, beacons in more
populous areas have the potential to perform witnessing more frequently and, as a result, earn more PTN.
Platin received a legal opinion stating that the Platin token is incontrovertibly a utility token. The legal
opinion is comprehensive and includes a number of tests used by various jurisdictions.