Pandacoin (PND) has no IPO, no premine and no instamine. Its Proof-of-Work phase started on 16 February 2014 and lasted for 95 days. Pandacoin (PND) is one of the rare Proof-of-Stake coins with a long Proof-of-Work phase. This allows for the coins to be distributed fairly to the early adopters. Pandacoin (PND) is positioned to reach mainstream users from multiple market segments and cultures, in particular those in China and South East Asia by removing high barriers of entry to the fast paced and complex world of cryptocurrencies. Users may earn 2.5% annual interest on their Pandacoin (PND) by storing them in their PandaBank and leaving the wallet 'unlocked'.