🏴‍☠️ For Buccaneers, not Bureaucrats🏴‍☠️

In a world ruled by crusty old banks, bloated bureaucrats, and shadowy money printers, everyday coin has lost its anchor. Inflation nibbles away at yer savings. Transfers crawl like a wounded gull. And redemptions? Always at the mercy of some land-based overlord. As for yield - that treasure’s been seized by middlemen in silk vests and smug smiles.

Stablecoins were s’posed to set us free, but most have just rebuilt the same empires on-chain. Centralized keepers. Reserves buried in black boxes. Yield for insiders, risk for the rest of us.

This be no way to sail.

The people deserve a coin beholden to none, yet backed by something solid. A coin born offshore, forged on-chain, and bound only by code - not kings.

We are landlubbers no more.

We forged Piratecoins - startin’ with pNZD and pAUD (with more on the horizon),  to give the world a decentralized, censorship-resistant answer to the stale stablecoins of old.

No fiat redemptions, so no KYC shanties. No hidden leverage lurking in the bilge. And no censorship, we don’t play constable. And unlike the landlubber coins out there, all reserves are verifiable in real-time. No cookin’ the books. No “independent” audits written by their own crew. No redemption honeypots waitin’ to drain the deckhands.

We don’t say “trust us.”
We show ye the ledger.
We promise transparency.
We promise freedom.

Piratecoin reserves be made of real-world plunder - tokenized fair and square, and laid bare on-chain for all to see. No need for off-chain auditors or shadowy bean-counters. The ledger don’t lie.

Here’s what backs our treasure:

1. 70–80% in tokenized NZ and AU treasury notes - sovereign-grade digital gold, on-chain and battle-tested
2. 20–30% in regulated NZD and AUD stablecoins — the likes of NNZD and AUDD, held in plain sight

Each pNZD and pAUD be overcollateralized from the moment it sets sail, with smart contracts watchin’ the vault like a hawk. No funny business, no holes in the hull.

The rules that govern Piratecoins are simple:

1. Minting: Only permitted through approved contracts with real-time proof-of-treasure.
2. Redeeming: Available to all, redemption is offered in the equivalent regulated stablecoin (ie NZDD, AUDD)
3. Fees: A 0.1% mint + 0.1% burn fee funds the Pirate Treasury
4. Swaps: DEX integrations enable FX and trading
5. Minimal Compliance, Maximum Freedom: 
   1. Piratecoins do not implement wallet blacklisting or censorship at the token level. Transfers between wallets are fully decentralized and uncensorable - we trust the chain, not politics.
   2. Compliance responsibilities for fiat redemption are handled by the regulated stablecoins (e.g. USDC, NZDD, AUDD) used to redeem Piratecoins. 
   3. Piratecoins themselves are purely on-chain assets with no direct link to fiat, and therefore sit outside the scope of traditional financial compliance obligations.

Governance will transition to PiratecoinsDAO. Until then, the multisig treasury is guarded by trusted crew.

Piratecoins are more than just stables. They’re the base layer of a growing DeFi ecosystem in production:

• DEX: Decentralized trading pools where Piratecoins can be swapped with other assets. Powered by AMMs and open liquidity, coming soon.
  
• Lending: Piratecoins as collateral in lending protocols coming soon.
  
• Monthly Loot: Soon you can hold Piratecoins and receive automatic cashback rewards each month. The loot is funded from real protocol revenue - mint/burn fees, swap fees, and treasury earnings. No promises, no fixed returns. Just your share of the treasure, distributed fairly and transparently.
  
• Staking: Lock Piratecoins into the PiratecoinVault to earn double monthly loot. Stake weight determines your share of the treasure.

All protocol fees are governed by the Piratecoin Treasury and eventually distributed by PiratecoinDAO vote.

As the high seas of DeFi evolve, so too shall the Piratecoins protocol. Below be a chart of advanced mechanisms and integrations that await the signal to hoist anchor - bringing more treasure, more firepower, and more freedom to the Pirate fleet.

Looping the Loot: pNZD and pAUD can be used in recursive lending strategies: deposit them as collateral, borrow other assets, swap back, and repeat. This allows degens to loop the loot, stacking leverage on top of yield-bearing Piratecoins. Deploying on protocols like Silo, Morpho, or Gearbox opens the door to 2–5x exposure while the protocol earns extra fees on the side. Proceed with caution, for over-leveraging might land ye in the Kraken’s jaws.

Staking into the LSDfi Tides: Piratecoins can pair with liquid staking derivatives (LSDs) like stETH, rsETH or mETH to create high-yield LP positions. When dropped into protocols like Pendle, these LPs let ye trade and farm the future yield of both sides — pNZD and ETH. Picture a Pendle vault filled with pAUD/stETH, flowing with dual yield and BOUNTY incentives. In these waters, both the staked and the staker get paid.

Bribery and Governance Gauges: As PirateDEX evolves, it may chart a course toward veTokenomics. By locking $BOUNTY into a vote-escrowed system, stakers will gain power to direct emissions, earn bribes, and rent liquidity — all without emptying the protocol’s coffers. This brings Piratecoins into the world of gauge wars, where votes and bribes flow like rum in a port town. Solidly forks, Hidden Hand, and ve(3,3) mechanics await.

Accepted Across the Seven Chains: We aim to cast pNZD and pAUD far beyond their home port. With bridges like LayerZero and Across Protocol, Piratecoins can reach other chains (Arbitrum, Base, Blast) where new yield farms await. With each new harbour comes a new chance to farm, swap, and earn — and with BOUNTY incentives layered in, liquidity flows fast and free. Soon, the Pirate standard may fly across every DeFi sea.

Real Yield Vaults: A share of the treasury yield that backs every Piratecoin will one day be directed into Real Yield Vaults, where users may deposit pNZD or pAUD and earn predictable, no-fuss returns. This be no ponzi yield — just honest coin from tokenized NZD and AUD treasuries. Rewards may be paid in stablecoins or $BOUNTY, and the protocol may offer different tranches for low-risk deckhands and high-risk captains alike.

Hedging and Insurance: Every good sailor prepares for a storm. Future modules will allow users to hedge against depegs, swap volatility risk, and insure their holdings against calamity. pNZD-based options markets may let ye bet on central bank moves, while insurance protocols like Sherlock and InsurAce offer cover for PirateDEX or treasury vault risks. Even pirates must mind their risk management.

We’re not naive. Even pirates must respect the storm.

Risks include:

• Smart contract vulnerabilities
• Oracle manipulation or failure
• Regulatory shifts in offshore jurisdictions
• Market volatility of tokenized debt instruments

Our defence: fully collateralized reserves, decentralized infra, and a DAO that can adapt with agility.

$BOUNTY is the planned governance token of the Piratecoin ecosystem. It represents the voice of the crew, the keys to the treasury, and your claim to the spoils of on-chain conquest.

There will only ever be 1,000,000,000 $BOUNTY tokens. No inflation. No hidden mint keys. No tricks.

Allocation:

• 40% – Community Distribution (400M)
  • 30% via airdrops, liquidity mining, and early usage
  • 10% reserved for future DAO-based community programmes
    
• 20% – Founders & Core Contributors (200M)
  • 4-year vesting with 1-year cliff; monthly unlocks thereafter
    
• 30% – DAO Treasury Reserve (300M)
  • Unlocked at 10% annually
  • Deployed only via DAO proposals and votes
    
• 10% – Strategic Partners & Advisors (100M)
  • Allocated to aligned partners who support growth and expansion
    

Governance:

$BOUNTY holders will govern:

• Protocol upgrades and smart contract changes
• Treasury disbursements
• Launch of new Piratecoins
• Bounty mechanics and reward distribution logic
  

The PiratecoinsDAO will control the treasury and the protocol. There is no central bank here — only a decentralized crew, charting their course together.

We be buildin’ what no central bank would dare whisper - a sovereign-grade, uncensorable stablecoin, backed by real treasure and beholden to no crown.

To the rebels, the builders, the meme-lords and DeFi dreamers: yer ship awaits.

Hoist the black flag 🏴‍☠️
Claim yer share of the treasure
Welcome aboard Piratecoins.

www.piratecoins.xyz