1. Why PB Exists
Perpetual Bitcoin (PB) was designed to remove the failure modes that dominate modern crypto launches: admin control, upgradeability, governance capture, vesting cliffs, insider exits, liquidity rugs, and human discretion over market rules.
PB replaces those moving parts with one immutable system: one Vault, one supply, one execution path for buys, and one set of rules for everyone. No APY farming. No inflation. No transfer taxes. No calendar-based unlock cliffs.
2. Core Design
PB's architecture is intentionally simple:
- PB > liquid ERC-20 token
- PBc > non-transferable locked claim token
- PBt > tracker NFT that records each position
- Vault > the immutable contract that enforces all buy, lock, unlock, and backing rules
The full supply is minted at genesis and held by the Vault. No further minting is possible. Buys route through the Vault so the protocol rules are enforced, while liquid PB remains freely sellable on the AMM.
3. How The System Works
Every PB position follows the same lifecycle:
- Buy: a user buys through the Vault, not through a raw AMM swap
- Split: 3.69% becomes liquid PB and 96.31% becomes locked PBc
- Track: a PBt NFT records the entry price and future unlock state
- Unlock: each 55.55% price increase triggers settlement of one-third of the remaining PBc
- Repeat: the remaining locked amount continues following the same rule indefinitely until only dust remains
Unlocks are price-based, not time-based. That is the core distinction. The protocol does not ask holders to decide when to sell, and it does not force everyone through the same calendar cliff.
4. Liquidity, Backing, and Settlement
PBc is always backed by PB held in the Vault. The governing rule is simple: outstanding PBc can never exceed the PB held in reserve by the Vault.
While the Vault holds excess PB above that 1:1 backing line, it can pair a predefined portion of purchases with PB and deepen AMM liquidity. When that excess is exhausted, liquidity contribution stops automatically and the remaining PB stays reserved for PBc backing and future unlock obligations.
Unlock settlement is designed to be efficient. Eligible unlocks are normally settled inside future buys through internal netting, and liquid PB can still trade freely on the market.
5. Mainnet Presale - CLOSED
The mainnet presale is CLOSED. Presale participation is block-based, capped per address, and converts into standard PB positions at launch through the protocol's conversion flow.
- 555 total presale blocks
- Fixed block purchase cost
- Entry price varies by block and determines later unlock thresholds
- Presale receipts convert into standard Vault-tracked positions
6. Security and Longevity
PB is built around a very narrow trust surface:
- No admin
- No upgradeability
- No governance capture
- No transferable locked positions
- Immutable recovery and inheritance rules
PB is meant to outlive its creators. It is not just a token launch, but a fixed ruleset for buying, locking, unlocking, and distributing value without discretionary control.
7. Conclusion
Perpetual Bitcoin is a price-based, immutable protocol that turns the buy path, the lock path, the unlock path, and the backing model into one transparent system. It is designed to remove the usual crypto failure modes and replace them with rules that do not change.
Mainnet presale is live now. Full contract verification and deeper technical publication follow mainnet launch.
