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Pylon Protocol is a DeFi project based on Terra’s native savings standard (Anchor Protocol), which strives to create a medium for sustainable payments. The main objective of projects like the Pylon Protocol is achieving capital efficiency to benefit both depositors and receivers of the fund. Simply put, the Pylon Protocol leverages the anchor (a %20 interest rate) to do activities that are impossible to do otherwise. Learn about the best fundraising methods.
Let’s explain how Pylon Protocol works with an example. If you, as an investor, decide to invest in something, you can deposit UST, and you are sure your deposit is safe and can withdraw it at a specific time because you’re making a sort of commitment to your investment. The project owners will receive all the yield generated by the capital you invested. As a reward, the project will pay you anything it deems fit.
Anchor is a savings protocol with low volatility and principal protection. The main thing it does is accept Terra deposits and stabilise the deposit interest rate. The yield-generation mechanism of Anchor works by lending deposits to borrowers who bring liquid-staked assets from diversified Proof of Stake blockchains as collateral and passing on one part of block rewards from collateral assets to depositors.
Pylon Protocol creates various groups and relations among those who invest and those who use the fund. The maintenance of the protocol is a responsibility of various independent platforms, and the governance comes from the holders of Pylon Protocol’s native token, MINE.
The traditional trade model was like offering some goods or services from one side and paying equal value in money from the other. While being efficient for immediate transactions, this model fails to fulfil the needs of transactions occurring for continuous services and consumption or over certain periods of time. There are multiple models of selling and lending that cannot follow this model of transaction. For example:
The thing Pylon Protocol aims to provide for all these parties is customised payment options meeting the requirements and specific context of each transaction. Integrating DeFi payments infrastructure using user deposits, Pylon Protocol works on creating consumer-friendly payments and savings platforms.
Pylon Protocol has established a series of decentralised gateways for savings and payments. Pylon Protocol’s main products include a dashboard for staking rewards, a WebApp, and a project launchpad. There will also be a yield-integration widget that is to be released yet. MINE token holders keep governing the platform in a decentralised way while the project continues innovation and integration.
The Pylon Protocol WebApp has multiple uses, including trading and staking MINE tokens, governance (voting on community proposals), interacting with the community, and even proposing ideas for platform growth.
Pylon Protocol has developed a user-friendly token launchpad, aka Pylon Gateway, for future projects in the Terra ecosystem.
On the list of its future launches, Pylon Protocol has a widget, which is used by existing and upcoming platforms to integrate into their payment options. It will be developed to let users pay for services via user deposits and redirect yield to creators and platforms automatically.
The team behind Pylon Protocol claims to prioritise security by having a team of developers and 3rd-party auditors and advisors create a safe and dependable protocol. Contract codes and balances of Pylon Protocol are publicly available, and security researchers are ready for a bug bounty to report any possible vulnerabilities.
Pylon Protocol respects transparency by building on open-source software and having public smart contracts. The Pylon Protocol creators believe that visibility, size, and time are true indicators of smart contracts’ security.
The native token of the Pylon Protocol that is used for governance is called MINE. The name MINE is inspired by "minerals" in StarCraft.
MINE token is primarily used to let holders govern the protocol via the Pylon WebApp. Depositing MINE will allow users to create governance polls. In the meantime, MINE stakers will be enabled to vote on community fund grants, launchpad projects, treasury distribution, parameter changes, development of new features, protocol updates, and other initiatives related to ecosystem expansion.
The current yield reserve of the Pylon Protocol Treasury is distributed as follows;
Today, on Apr 17, 2022, the Pylon Protocol holds the #508th rank based on market cap on Coingecko.com. Currently, its price is $0.034471439635, with a 24-hour trading volume of $77,965.39. The price of MINE token has experienced a -0.3% in the last 24 hours. Pylon Protocol’s circulating supply is 2.1 Billion MINE coins, and its total supply is 10 Billion. Currently, CoinEx is one of the most active exchanges to trade Pylon Protocol.
According to the recent performance of the Pylon Protocol, crypto experts at Priceprediction.net predict its future price. It’s no secret that these are merely predictions and not financial advice whatsoever. Make sure you consult with your financial advisor before making any investment decisions.
In 2022, the price of the Pylon Protocol is expected to reach a minimum of $0.075. Chances are the MINE price to reach a maximum of $0.087, with an average trading price of $0.077.
The price of the Pylon Protocol is predicted to reach a minimum of $0.11 in 2023. It’s possible that the Pylon Protocol price will reach $0.13 at maximum, with an average price of $0.12 throughout 2023.
Experts predict that in 2024, the price of the Pylon Protocol can reach $0.17 at its lowest and $0.20 at its highest level, with an average trading price of $0.17.
Each MINE token of the Pylon Protocol is expected to reach a minimum of $0.25 in 2025. The MINE price is predicted to reach a maximum of $0.28, and its average price is expected to be around $0.25 throughout 2025.
Being established on Anchor’s decentralised fixed income standard, Pylon Protocol aims to create a new design space for payments by using retrievable key stablecoin deposits and yield redirection.
The Pylon Protocol’s current participants are its users (payers), creators (value providers), platforms, MINE investors, MINE stakers, and MINE liquidity providers.
Future projects on Pylon Protocol will cover a wide range of applications, from arts and entertainment, to hospitality and tourism, philanthropy, arts and even to real estate, savings accounts, sweepstakes, and various recurring subscriptions and membership programs. All in all, Pylon Protocol seems to provide solutions in one of the most wanted areas in crypto, capital efficiency. Time will reveal whether Pylon Protocol can keep its promises. To neither fall off the wagon nor jump into unknown waters, you must consider all the factors. Cryptologi.st is no financial advisor but is here to facilitate the coin selection process for you by providing careful analyses of the top 1500 coins, hot news, and many more. Stay tuned!