Once you have staked your PAD, there are things you need to consider going forward:

• Increasing the stake position and claiming tokens for every IDO participation extends the lock in period by a week.
• Keep in mind that if you unstake your PAD before first claiming the tokens for the IDO you participated in, you wouldn’t be able to claim the token unless you restake the PAD token for the tier you participated in.

Whilst we want to ensure staking is as safe and transparent as possible, there are still things to consider regarding whether a specific staking option is right for you:

Slashing risk: There is no slashing risk involved when staking PAD tokens.

Unbonding risk: The cooldown period for PAD is 21 days by default. Crypto markets are highly volatile, and investors need to be aware that they cannot sell their tokens immediately once they have staked them. They first need to wait 21 days for the tokens to unbond before they become liquid. Please take note that the cooldown period can be further extended by the governance. Consider keeping funds liquid if you do not intend to hold PAD long-term. 

Protocol security risks: There is an inherent risk that the protocol could contain unknown bugs. This not only applies to staking but your PAD investment in general.

Please note that this is not an exhaustive list of all the risks related to staking.

PAD is the native token of the NearPad network that is used to carry out the key functions of the platform as detailed below:

Token Utilities:

• Staking: Users can temporarily lock up PAD, in return for the service, stakers are rewarded with rewards from Swap Fees and Launchpad fees.
• Governance: PAD  is used to vote on governance proposals on the network. Only staked tokens are eligible to be used for governance voting. The amount of voting power is measured in terms of stake. Governance will not be limited to protocol changes only. NearPad community will also play an active role in the pitching, screening, and voting of projects simply by staking their tokens to their preferred projects.
• Launchpad: Use your PAD tokens to take part in new project launches through the Launchpad.

The supply of PAD is capped at 150 million tokens.

Initial Distribution Breakdown 

• 8.78% (13 170 000) – Seed
• 20% (30 000 000) – Team and Advisors
• 69.22% (103 830 000) – DAO Treasury
• 2% – (3 000 000) – Public Sale