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Roadmap

Where We Are Today

Live on BSC Mainnet as of this writing:

  • ✅ Paimon Prime Vault (PP) — ERC-4626 RWA fund with two-channel redemption

  • ✅ Pre-IPO SPV Tokens (pSPCX / xSPCX) — EIP-3643 + Shadow ERC-20 + TokenBridge, first asset issued: SpaceX SPV via xSPCX V4 drop (April 2026)

  • ✅ Launchpad — 4-Layer Drop with points-and-USDT double gate, V4.2.2

  • ✅ Compliance Layer — KYCAggregator + SimpleKYCProvider (institutional onboarding only)

  • ✅ Points + Badges — PointsHubV2, StakingModule (PPT staking with 1×–2× boost), LPStakingModule, PaimonBadge (Soulbound)

  • ✅ External Adapters — CashPlusAdapter (live external RWA integration)

  • ✅ Operational Backend — KEEPER / REBALANCER service accounts, off-chain RBAC, event-driven listener with gap recovery, automated settlement workflows

Not deployed (described in this gitbook with a "Phase 2 Concept" banner):

  • Tranche Vault (sPP / jPP) — design only, no contract written

  • PAIMON token / vePAIMON / esPAIMON — token not yet issued

  • Paimon DEX (DEXFactory, DEXPair) — designed, not deployed

  • HYD synthetic asset, PSM, RWA-collateral CDP — separate design exploration

  • GaugeController / BribeMarketplace / RewardDistributor — designed, not deployed

  • Protection Band automation — manual KEEPER intervention only today

Phases

Phase
Focus
Key Deliverables
Status

M0

Paimon Prime

PP Vault, two-channel redemption, NAV / Voucher

✅ Live

M1

Asset Onboarding & Launchpad

LaunchpadDrop V4, PointsHubV2, StakingModule, PaimonBadge

✅ Live

M2

Pre-IPO Tokenization

EIP-3643 + Shadow ERC-20 + Bridge, KYCAggregator; first issuance: xSPCX SpaceX SPV

✅ Live

M3

Multi-Asset Pre-IPO

Add additional pre-IPO assets (Anthropic SPV etc.) on the same EIP-3643 + Bridge architecture; expand KYC providers

🚧 In Progress

M4

Retail KYC

Open KYC onboarding to retail wallets so end users can self-serve into pSPCX redemption

Planned

M5

Tranche Vault

sPP (Senior, fixed yield) / jPP (Junior, leveraged) split on top of PP

Planned (design phase)

M6

DEX & Liquidity

Paimon DEX deployment with PP / xSPCX trading pairs; LP incentives

Planned

M7

Token & Governance

PAIMON token issuance, vePAIMON locking, Gauge voting, BribeMarketplace, fee sharing

Planned

M8

Protection Band Automation

TWAP-based deviation monitoring, automatic T+0 suspension trigger

Planned

M9

Cross-Chain

Bridge to additional chains, unified PP / xSPCX across networks

Planned

Phase Details

M0: Paimon Prime ✅

Core asset management infrastructure:

  • PPT contract (ERC-4626) with NAV / share price calculation

  • Two-channel redemption (Standard T+7, Emergency T+0) with KEEPER approval workflow above thresholds

  • AssetController + adapters (CashPlus live)

  • RedemptionVoucher (ERC-721) for delayed settlements

  • CertiK audit completed January 2026

M1: Launchpad & Reputation ✅

  • LaunchpadDrop V4.2.2 with 4-Layer points-gated drops

  • PointsHubV2 hub with REWARD_ROLE / DEDUCTOR_ROLE design for pluggable modules

  • StakingModule v2.3 (credit-card points model with lock-duration boost)

  • LPStakingModule for AMM positions

  • PaimonBadge (Soulbound, 5 badge types)

  • PointsRedemption for off-chain reward conversion

M2: Pre-IPO Tokenization ✅

  • EIP3643Token implementation (UUPS upgradeable, agent / KYC / freeze / forced-transfer)

  • ShadowERC20 (UUPS, mint/burn restricted to bridge)

  • TokenBridge hub with N-pair support

  • KYCAggregator + SimpleKYCProvider (institutional whitelist)

  • First issuance: xSPCX SpaceX SPV V4 drop, April 13–20 2026 — $200K raise, 30,600 tokens, 4 layers ($2.75 / $4.58 / $6.40 / $6.93), MerkleClaim settlement

M3: Multi-Asset Pre-IPO 🚧

Goal: add additional pre-IPO assets (e.g. Anthropic SPV) on the existing infrastructure. Adding a new asset requires only:

  1. Deploy new EIP3643Token proxy (e.g. pPNTC)

  2. Deploy new ShadowERC20 proxy (e.g. xPNTC)

  3. TokenBridge.createPair(newSecurity, newShadow, ratio)

  4. Grant agent / bridge roles

The same KYCAggregator whitelist applies to all assets — no re-onboarding of existing KYC users.

M4: Retail KYC

Open the KYC pipeline to retail wallets. Today's KYCAggregator + SimpleKYCProvider are deployed but onboarding is institutional-only. M4 brings the user-facing KYC flow online so any wallet can self-serve verification and access pSPCX redemption.

M5: Tranche Vault

Senior / Junior yield stratification on top of PP. Senior receives a fixed yield (e.g. 4% APY); Junior receives the residual after Senior is paid, providing leveraged exposure but bearing first-loss risk. Design phase only — no contract written, no parameters finalized.

M6: DEX & Liquidity

Deploy Paimon's own AMM (V2-style with 0.25 % fee, 70 / 30 voter / treasury split). Initial pairs: PP/USDT, xSPCX/USDT. Provides protocol-controlled venue for both products' secondary liquidity, plus a fee surface that flows into Treasury / future vePAIMON.

M7: Token & Governance

Issue PAIMON token (10B max supply, capped). Activate vePAIMON locking, GaugeController for emission allocation across pools, BribeMarketplace for external incentives, RewardDistributor for merkle-root reward distribution. Migration of off-chain RBAC + KEEPER multisig to on-chain governance proposals (with timelock + tiered risk levels).

M8: Protection Band Automation

Today's "protection band" is a manual KEEPER lever — operators can pause Emergency redemptions if they observe NAV / market price divergence. M8 automates this via TWAP deviation monitoring with automatic suspension at ±15 % threshold.

M9: Cross-Chain

Bridge PP and xSPCX to additional EVM chains (Ethereum mainnet, Arbitrum, Base) via LayerZero or comparable infrastructure. Maintain unified KYC across chains.

Risk Factors per Phase

Phase
Key Risk
Mitigation

M0

Smart-contract bugs in core vault

CertiK audit complete; ongoing monitoring

M1

Launchpad griefing via points spam

StakingModule MIN_STAKE_AMOUNT = 10 PPT; ratio limits per layer

M2

Bridge invariant break

UUPS upgrades behind multisig + timelock; on-chain invariant verification

M3

Operational scale-out (multi-asset)

Hub-and-spoke design — KYC layer reused; per-asset risk isolated

M4

KYC provider failure / data breach

Multi-source aggregation; provider can be swapped without contract redeploy

M5

Tranche pricing model

Extensive simulation, formal verification of yield distribution

M6

LP impermanent loss

Incentive design + protocol-owned liquidity

M7

Token launch volatility

Vesting schedules, gradual emission

M8

TWAP manipulation

Multi-block window, outlier exclusion

M9

Cross-chain bridge exploits

Audit-heavy bridge selection; insurance

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