In order to get started on PartyFinance, users will need to own a . These are your AAA access pass to the platform. You can mint a PartyPunk here (link coming soon) or purchase one on Opensea. Now that you have your invitation you can start or join a party.
The pFi token is the native ERC-20 token for the PartyFinance platform. To create parties on PartyFinance the pFi token is burned. PartyFinance has inbuilt governance. Use your pFi to vote on proposals. Holding pFi with your PartyPunk will unlock a variety of features on the PartyFinance Platform. You can find out more about the pFi token here.
In order to create your own party you will need to own a minimum of 10,000 pFi tokens. These are burned to create your party. This mechanism causes the pFi token to be deflationary and limits the creation of unnecessary parties. When you initially create your party you will decide what governance model shall be used (initially only the type will be available). You will also decide whether it is public or private, how many partygoers can join and the minimum and maximum amounts any individual can deposit. Anyone can join a public party, however private parties will be locked so that only invited wallets can join. In the future, parties will be able to whitelist an NFT as a transferable invite to your party.
In order to join a public party, you need to deposit a satisfactory amount of the denominated asset (usually USDC). You may not be able to join if the party is full. When you join a party, you will receive a liquidity token, which is your proof of ownership of your stake in the party. Even if more people join before or after you, your share remains the same and is only affected by the price increase or decrease of the assets the party purchases. You can learn more about the technical aspect of how this is acheived here. Joining a private party is identical to joining a public party, except your wallet must be invited to join, by the party leader.
You can still join a trading party even if you are late. Once you deposit your funds, the smartcontract will automatically purchase the basket of assets to match the percentage that the party had before you deposited. You can find out more about how this works here. Certain parties in the future will be time locked, once a certain asset is purchased. For example if a party is made to fractionalise a Bored Ape NFT, then members would not be able to join after the NFT is purchased, or leave until the the NFT has been sold.