Understanding Protected Growth Token (PGT)
Exchequer Notes are fixed-term ERC-20s with transparent, on-chain collateral and a downside floor at maturity. Systematically recreate TGE-level on-chain user acquisition energy minus the dump—converting new users into long-term stakeholders while a liquidity flywheel deepens stable, project-owned DEX liquidity across campaigns.
Note Types
Exchequer supports two note types. Both give every buyer a protection floor (up to a 75% drawdown floor at maturity). They differ in how upside is delivered.
Protected Growth Token (PGT)
"Floor + spot-like upside." A simple, clean payoff at settlement.
- Protection floor (max 75% drawdown).
- Spot-style participation (optional cap).
- Zero yield during term; outcome realized at maturity.
- Typical fit: attract and retain conviction holders who want a straightforward "floor + upside."
Power Protected Growth Token (Power PGT)
"Floor + jackpot-style upside." Prize-linked mechanics add campaign energy.
- Protection floor (max 75% drawdown).
- On-chain prize pool distributes a defined share of upside to winners.
- Every holder gets at least the floor at settlement.
- Typical fit: roadmap moments and seasonal pushes that activate dormant audiences.
Engineered Features
Built-In Protection
Set a downside floor on principal (up to a 75% drawdown floor at maturity).
Two Ways to Capture Upside
PGT: spot-like participation. Power PGT: prize-linked distribution.
On-Chain & Auditable
ERC-20 notes with transparent collateral and programmatic settlement.
Liquidity Flywheel
Each issuance adds aligned holders and compounds project-owned, stable DEX liquidity—no mercenary emissions.
Designed for projects from day one to year ten.
TGE is when attention peaks—but it often leaves long-term sell pressure. Exchequer Notes let you run TGE-scale acquisition again and again, without creating overhang.
Campaigns (quarterly, seasonal, event-driven) convert curious users into stakeholders with a known floor and clear upside path, while the liquidity flywheel strengthens price discovery and resilience.
Why Projects Use Exchequer Notes
Acquire new users who become long-term stakeholders—TGE magic, minus the long-term overhang.
Replace dilutive emissions with a compounding liquidity flywheel.
Reduce reliance on CEX/MM retainers and mercenary liquidity.
Put treasury to work with transparent, auditable mechanics.
Why Buyers Choose Exchequer Notes
Token-linked upside with a predefined safety floor.
Clear terms: floor, upside rules, maturity, on-chain collateral.
Choice of profile: PGT (clean "floor + upside") or Power PGT (prize-linked excitement with the same floor).
Learn More
Read the documentation at docs.exchequer.fi for detailed mechanics and examples.