## What Is Pegasys Protocol (PSYS)?

Pegasys is a permissionless decentralized exchange (DEX) running on Syscoin NEVM, Syscoin’s EVM-compatible protocol extension, that aims to bring something fresh and impactful to the DeFi space. It uses the same automated market-making (AMM) model as Uniswap, features a native governance token called PSYS that is community distributed, and is capable of trading all tokens issued on Syscoin. In a crowded marketplace with multiple contenders, Pegasys offers three critically important benefits: fast and cheap trades, high-quality development, and a realistic, fair, and market-compatible token distribution.
Since Pegasys is built on Syscoin, it enables users to swap assets at scale, with bitcoin-merge-mined security, processing power, and transaction fees as low as a few cents. Our DEX also leverages the best of both worlds: community governance and battle-hardened software expertise from Pollum. The native governance token, PSYS, enables the community to drive the development of the product in full by taking part in the various liquidity mining programs available, as well as special events and partnerships we have planned down the line.
Alongside the traditional LPs and swap functionalities, Pegasys also has very fruitful farms and staking opportunities as well as novel utility for users and other developers such as a token creator, launchpad, and liquidity bootstrapper.

Our vision for PSYS is simple: A fair Governance Token with embedded utility and flexibility to let the community successfully drive the Pegasys Protocol alongside Pollum’s core contributors.


## How Many PSYS Tokens Are There in Circulation?

PSYS tokens were launched on April 27, 2022, with 100 million PSYS tokens created at genesis. 

A fixed inflation rate of 3% per year will start after the first year, ensuring continued participation and contribution to Pegasys, governed by PSYS holders, as well as giving enough flexibility for the protocol to pivot and expand as necessary.


### Who Are the Founders of Pegasys Protocol?

Pegasys is a protocol initially and continuously developed by Pollum Labs, so our take on developing the project is similar to what MakerDAO or Uniswap have in place: core contributors that drive the protocol but at the same time having open-source software that anyone can actively be involved with. This approach allows our team to make smaller decisions and deliver features faster with higher code organization and quality while also making sure the community is heard and is driving the protocol forward.

Pollum was founded in early 2021 when we combined our know-how and engagement within the crypto & DeFi spaces with years of experience in software development for global companies across different industries. We aim to bridge the dynamic and decentralized paradigm of the web3 world with the best practices of top-end software studios. Being on the other side of hiring software companies in the past, we know the single most important differential one can have: a true sense of ownership. Our goal is to work alongside impactful partners with long-lasting relationships, going beyond just delivering code. Maintainability, proper structurization, code coverage, and scalability are some of the values we apply to our projects.


### Where Can I Buy PSYS?

You can get your PSYS at https://app.pegasys.finance/#/swap.

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