Terra is a fast-growing blockchain with a vision of cryptocurrency mass adoption by providing friendly payment services. After the Columbus-5 upgrade, Terra promised a new wave of projects on Terra, which created a demand for a launching platform. At the moment, the launchpad sector on Terra includes 2 projects: StarTerra and Pylon Protocol. In this article, let’s take a look into one of them.
What is Pylon Protocol?
Pylon is a collection of savings and payment services. The idea of Pylon is to provide a riskless investment by depositing money and spending yields. This is enabled by making the use of stable APY generated from Anchor Protocol.
Users can expect 2 key features from Pylon:
- Payment (upcoming): Pylon offers principal-protected payments. This offers a new way of paying for subscription services with “no fee”. Imagine how great it is to enjoy full services of Netflix, Spotify,.. with no loss to your principal.
- Launchpad: Pylon offers a new way of IDO participation on Terra. Instead of registering and praying for winning a whitelist, users can simply deposit their UST, receive the IDO tokens, and withdraw the full amount of their initial investment after the lock-up period.
How does Pylon Protocol work?
Reading the above information about “no-fee” services and “riskless” investment, you may ask how it is possible. And, the answer lies in the fixed interest rate earned from Anchor Protocol. Again the keyword is “Deposit money and Spend yields”.
- Users side: They deposit stablecoin to get access to recurring services. Upon subscription expiry, users can withdraw in full of their initial deposit.
- Creator side: They receive stable, continuous yields generated from users’ deposits.
- Investor side: They deposit stablecoins to the pool of projects. After a lock-up period, they can withdraw all of their initial investment and claim the project’s reward tokens.
- Project team side: They receive consistent yields, which will support the sustainable growth of the project over time.
2 key things to make this mechanism work are that: the payer should be willing to lock up their investment long enough to generate sufficient yields and the payee should benefit from a stable cash flow.
What is MINE token?
MINE is the native token of the Pylon Protocol. MINE holders have the right to participate in governance activities and earn yields from the protocol as well.
Detailed information about MINE token
MINE Price Today
You can check the current price of MINE token on Coin98 Markets.
Coin98 Markets is a website that helps users to get updates of the real-time prices, as well as view the detailed information of a Token Metric from any project. More specifically, you can access the home page or the community page of a project or filter the coins/tokens by Market Cap, Trading Volume, etc.
MINE Key Metrics
- Token Name: Pylon Protocol.
- Ticker: MINE.
- Blockchain: Terra.
- Token Standard: CW20.
- Contract: terra1kcthelkax4j9x8d3ny6sdag0qmxxynl3qtcrpy
- Token type: Utility, Governance.
- Total Supply: 10,000,000,000 MINE.
- Circulating Supply: 769,763,244 MINE.
MINE Token Allocation
MINE Token Sales
200M MINE has been sold at the IDO price of $0.01.
MINE Release Schedule
MINE Token Use Cases
Governance: Users stake MINE to vote on community fund grants, protocol updates, launchpad projects, parameter changes,…
Earning: MINE holders get a proportion of yield generated from the Pylon Protocol platform.
How to get MINE token
Currently, you can buy MINE from several exchanges:
- CEXs: Hotbit.
- DEXs: Terraswap, Pylon Protocol.
How to buy MINE token
How to store MINE token
Pylon Protocol Roadmap
The Roadmap is still being updated but here are some activities that Pylon Protocol planned to do in its August update:
- Building infrastructure for other project integrations: widget, plugin, dashboard, and SDK.
- Launchpad projects: Focus on the Terra projects first then expand to other chains.
- Planning for real-world use cases: Subscriptions and memberships, patronage of artists, and space rentals.
Team, Investors, and Partners
Pylon Protocol is backed by Terraform Labs (TFL).
Pylon is partnering with Anchor to receive stable yields from deposits.
Is Pylon Protocol (MINE) a good investment?
I hope that from all the mentioned information, you can get a basic understanding of Orion Money to start researching more about this project. It is hard to tell firmly whether any project/ token is a good investment or not.
However, I will provide you with some key highlights of Orion Money so that you can do your own research and make your own investment decisions.
Pylon Protocol is part of Terra blockchain, which is currently in the top 4 blockchains with the highest TVL. The success of the mainnet update on September 30th promised a more significant growth of Terra soon.
Pylon Protocol is backed by Terraform Labs and partnered with Anchor, the top-tier protocol in Terra. With such a strong foundation, Pylon Protocol is expected to be an integral block in the whole ecosystem.
Being a first mover and backed by Terraforms Lab, Pylon Protocol is now the launchpad that gathers the most IDO projects on Terra. Some projects launched on Pylon Protocol are all notable projects on Terra: Loop Finance, Pylon Protocol,…Many more IDO projects will be live on Pylon Protocol soon. Check this page for more information.
Some similar projects:
- StarTerra (STT): Launchpad on Terra.
- PolkaStarter (POLS): Multi-chain launchpad.
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