## What Is Parasol Finanacel (PSOL)?
Parasol Finance is the first-ever community governed IDO platform built on Solana with the needs of both projects and investors alike.
The key advantage as the ownership of Parasol tokens ($PSOL) gives a right of governance and voting on projects. Our governed platform will be an integral part of bringing new and existing projects and protocols into the Parasol ecosystem with the possibility to invest early. In the process, Parasol and the $PSOL token will become a foundation for enabling further development with partners, its own platform, and the ecosystem as a whole.
PSOL is the native utility token that is used for:
## How Many PSOL Coins Are There in Circulation?
Parasol Finance launches its platform on January 7, 2022, with 21 million PSOL tokens created at genesis. 3,045,000 $PSOL (14.50%) to Liquidity Providers: Distributed retroactively to existing liquidity providers, 3,150,000 $PSOL (15%) to Ecosystem Development, 105,000 $PSOL (0.50%) to Launch Rewards, 1,470,000 $PSOL (7%) to the Team, 4,410,000 $PSOL (21%) to the Marketing and Rewards, 4,410,000 $PSOL (21%) to the Private Sale and 4,410,000 $PSOL (21%) to the Public Sale.
