Whitepaper · history

How our thinking has changed

Every published version of the PNL whitepaper, permalinked.

  1. v2.0current
    May 2026

    Agent-native integration

    Adds a new section on PNL's agent surface — the @pnlmarket/mcp-server (v0.4.0, 16 tools, autosign + deep-link flows, encrypted-at-rest local wallet). Documents the trust model: non-custodial, autosign cap as a hard ceiling, sig-auth challenges payload-bound against tampering. Existing sections preserved verbatim from v1.

    Read v2.0 →

  2. v1.0archived
    December 2025

    Genesis

    The founding document. Idea tokenization, conviction markets, AMM mechanics, fair launch via pump.fun, and the 'where dreamers meet believers' framing. Establishes the protocol mechanics, economics, and the long-form editorial voice that subsequent versions inherit.

    Read v1.0 →

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Whitepaper · Version history | PNL