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Staking Mechanics

This page is provided for informational purposes to explain protocol mechanics. It does not constitute an offer of securities or investment advice. $P2P is not available to US persons. Nothing herein should be construed as a promise of financial return. Please read the full Disclosures before proceeding.

  • Circle Admins stake $P2P to operate merchant networks. Their stake is slashable, and a portion of their allocations is locked as an insurance buffer.
  • Merchants stake USDC as working capital for order fulfillment. Their capacity is bounded by their stake.
  • Delegators stake $P2P to Circles and take on operational duties: monitoring Circle performance, evaluating merchant conduct, and participating in dispute oversight. Delegators who fulfill these duties may receive incentive allocations conditional on the Circle's performance. Only delegation to $P2P-denominated Circles grants governance voting rights.