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## What Is Pastel Network (PSL)?

***The next generation NFT focused blockchain. Certifiable authenticity. Permanent storage. Negligible fees. Build, secure, and scale your Web3 ecosystem with Pastel.***

**Pastel Network is a fully decentralized, developer-friendly layer-1 blockchain serving as the preeminent protocol standard for non-fungible tokens ("NFTs") and Web3 technology.**

Pastel infrastructure enables existing layer-1 blockchains, decentralized applications, or third-party enterprises to protect creators and collectors. From digital collectibles & media to documents & applications, users and developers are able to certify asset rareness and truly store data forever. Lightweight protocols delivered by interoperable open APIs such as Sense and Cascade can be easily integrated across existing networks. A wide range of Web3 applications can be built directly on the Pastel Network, enabling developers to enjoy the scalable registration features, storage processes, and security of the broader ecosystem. 

### Advantages of Pastel 

**Application Specific Layer-1 Blockchain:** Purpose-built to securely handle all mission critical use-cases pertaining to the NFT and Web3 ecosystem. 

**Entirely Permissionless:** An open network of peer-to-peer nodes, available to everyone to participate in the consensus process that the Pastel Network uses to validate transactions and data. 

**Negligible Fees:** Dynamic fee function supports negligible transaction fees for on and off-chain requests, reducing friction from traditional general-purpose layer-1s. 

**Reliable Storage:** Highly redundant, distributed system achieves permanent storage. Pay once, store forever. 

**Cross-Chain Interoperability:** Natively integrate Open-API standards and trustlessly bridge assets cross-chain.

**Secure Foundation:** Multi-Layer architecture developed to achieve maximum network security.

### Build with Pastel

**Open-API Protocols:** Integrate native protocols like Sense and Cascade into your very own native blockchain or application via lightweight open web APIs.

**Agile Smart Ticket Structure:** Easily represent NFT data on the blockchain and add custom features or upgrade existing functionality on Pastel using an innovative ticket schema built on intrinsic data integrity.

**Pastel Developer Modules:** Develop on-chain marketplaces or third-party applications directly on the Pastel Network, supported by a series of protocols, well-documented APIs, and gRPC functionality to help builders get started.

## What Is the Pastel Token (PSL)?

The PSL token (“PSL”) serves as the native, digital cryptographically-secured utility token of the Pastel Network. By running on a specialized, purpose-built blockchain, PSL is the foundation for accessibility. Inherently, PSL empowers the permissionless, borderless economy for NFTs and Web3.

### PSL Use-Cases
* **Network Operations:** Generate a PastelID, Mint NFTs, Submit Tickets, and Perform Open-API Requests
* **Stake:** Operate a SuperNode and stake collateral in exchange for providing computational resources, validation, and security services
* **Governance:** Stakeholders are able to initiate and vote on various proposals 

#### Deflationary Mechanism

Upon core network operations, a percentage of each transaction fee is distributed to a cryptophically unspendable address, resulting in a reduction of the overall supply of PSL ("Proof of Burn"). Key network operations resulting in Proof of Burn:
* PastelID Creation
* NFT Registration
* NFT Activation
* NFT Trade
* Open-API Sense Request 
* Open-API Cascade Request

### Who Are the Founders of Pastel?

[Jeff Emanuel](https://www.linkedin.com/in/jeffreyemanuel/) is the co-founder of Pastel. Prior to founding Pastel, he worked as a machine-learning and financial analyst in the hedge-fund world for over a decade. Emanuel has extensive knowledge about blockchain protocols, technology, and traditional finance along with a native understanding of rare digital collectibles communities. He studied mathetmatics at Reed University. 

[Alexey Kireyev](https://www.linkedin.com/in/akireyev/) is the co-founder of Pastel. For over 3 decades, he has worked as a developer and security specialist at a variety of Fortune 500 financial and technology institutions, managing hundreds of employees and building products serving millions of customers. Kireyev has deep knowledge of blockchain protocols, cryptoraphy, and security standards and has contributed to open-source projects like Bitcoin Private, Z-Cash, and Dash. 

[Anthony Georgiades](https://www.linkedin.com/in/anthonygeorgiades/) is the co-founder of Pastel. He is also a General Partner at Innovating Capital, a major crypto fund that has incubated Pastel Network since inception. He previously spent time on the investment team at First Round Capital and on the operations teams of various technology startups in the blockchain and robotics space. He studied finance, management, and computer science and robotics at the University of Pennsylvania's Wharton and Engineering schools.

### Where Can You Buy PSL?

Pastel Network (PSL) tokens are available on many major exchanges such as [Kucoin](https://coinmarketcap.com/exchanges/kucoin/), [MEXC](https://coinmarketcap.com/exchanges/mxc/), and [Uniswap](https://coinmarketcap.com/currencies/uniswap/). 

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