"We believe that BrightNode's contribution will be recognized as one of the driving force behind our ecosystem's advancement. We appreciate their dedication, expertise, and the seamless partnership that has propelled PiChain Global into the forefront of the Web3 revolution."
Edwin Ho Chun Wa, CEO @PiChain Global

The client | PiChain Global

PiChain Global is a comprehensive Web3 ecosystem designed to address and overcome the limitations of traditional Web2 standards and the barriers that have prevented the widespread adoption of cryptocurrencies in commerce. With PCM Wallet, it utilizes the latest in blockchain technology to lower the entry threshold for newcomers to the Web3 space, offering a decentralized solution that emphasizes disintermediation, peer-to-peer transactions and decentralization. PCM Wallet supports various features including Pi and PCM payment, peer-to-peer transfer, deposits and withdrawals, while integrating with existing Dapps within the PCM ecosystem, including PiChain Mall, PiNFT ART, etc. This allows all existing Pi Network users to prepare for the upcoming open mainnet by using PCM Wallet as a platform to interact with the existing PCM Dapps and facilitate peer-to-peer transactions in real world scenarios.

With the launch of the invitation system and daily sign-in system, the community can engage with PCM Wallet and grow their micro-community to earn PCM rewards. The Web3 e-commerce platform also aims to cut out middlemen, reduce transaction costs, and provide a traceable and authentic product verification system to combat counterfeit goods.

The ecosystem is built around a strong community of 2 million members, demonstrating the importance of intrinsic motivation for driving mass adoption of dApps. Community-driven growth is seen as a key to long-term success, with PiChain Global leveraging this power to facilitate network expansion and ensure the platform's prosperity.

https://pcmlabs.io/

BrightNode’s contribution 

Summary of the Engagement

1. BrightNode reviewed and improved the tokenomics design for the PCM Token, our contribution included:

• Reputation management system for vendors and users

• Airdrop halving strategy

• Burn vs Buyback decisions

• Liquidity Pool Design

2. BrightNode supported in the development of the Whitepaper for the PiChain Global Ecosystem

Tokenomics Design

BrightNode supported PiChain Global by reviewing and improving a comprehensive tokenomics model for the PCM token within the PiChain Ecosystem. We outlined the token's utility, its role in the ecosystem, and strategies for distribution, staking, and rewards to encourage participation and investment. 

BrightNode developed mechanisms for maintaining the token's value through buyback and burn strategies and detailed a reputation management system for users and vendors. 

BrightNode proposed a nuanced seller behavior and reputation system within the PiChain Ecosystem, focusing on rewarding sellers with high sales, customer satisfaction, and significant PCM stakes. We introduced a dynamic where higher reputation not only leads to more rewards but also imposes greater penalties for non-performance, thus ensuring sellers are motivated to maintain high standards. BrightNode also proposed the idea of boost marketing to encourage higher marketing spending on the platform, aligning seller activities with the ecosystem's health by requiring PCM token stakes as a commitment to the network's integrity.

We also proposed innovative airdrop strategies to enhance user engagement and loyalty, including a perpetual system with decreasing rewards, fixed rewards adjusting for transaction volumes, time-based reductions akin to Bitcoin halving, volume/user-based reward adjustments, and streak-based incentives for daily use, all designed with sustainability and reward balance in mind.

BrightNode's contribution was pivotal in ensuring the tokenomics is robust, sustainable, and aligned with PiChain Global's long-term vision for growth and community development.

Whitepaper Support

BrightNode supported PiChain Global in the development of their Whitepaper by addressing several key areas essential for the ecosystem's success. We contributed to articulating the vision of the PiChain Global Ecosystem, highlighting its potential to revolutionize ecommerce through blockchain technology. BrightNode helped in outlining the challenges Web3 ecommerce faces, such as barriers to entry, marketplace barriers, and the limitations of archaic Web2 standards. We played a role in reviewing the ecosystem's core elements, including the PCM Wallet, PiChain Global's reputation system, community, and platform. Our input was substantial in detailing PiChain Global's innovative approach to tokenomics, emphasizing long-term growth, rewarding honest participants, and encouraging community participation.

BrightNode's expertise ensured that the whitepaper effectively communicated PiChain Global's solutions to transaction inefficiency, lack of supply chain transparency, and the importance of decentralization and community power. Through our collaboration, BrightNode helped PiChain Global present a comprehensive and compelling narrative that addresses existing e-commerce challenges and demonstrates the ecosystem's potential to empower users and foster innovation in the Web3 space.

Client Feedback

"Working with BrightNode has been a transformative experience for PiChain Global, elevating our Web3 ecosystem to new heights. BrightNode's professionalism and potential in the industry have been evident throughout our collaboration. Their deep understanding of the Web3 space, coupled with a proactive and collaborative approach has been pivotal in shaping our long-term vision for growth and community development."
Edwin Ho Chun Wa, CEO @PiChain Global

Learn more about BrightNode's Tokenomics consulting.