Pylon Protocol shared on Friday, June 18, through its Twitter account, some details about its platform, which, according to the company, helps users to make secure crypto investments, without losses and with added value.
“As the first integrated use case and flagship product of Pylon Protocol, Pylon Gateway is the launch pad for tokens and the crowdfunding platform through performance for Terra. Based on the idea of ”Deposit to Invest”, Pylon Gateway offers fundraising options that generate returns and that change the dynamics between investors and project teams, with the objective of aligning long-term value with the direction of the project”, he said through an article published on the Medium platform.
The company shared a series of characteristics of the platform:
Pool of pylons for tanks
One of the core features of the Pylon Gateway is custom Pylon Pools, where investors can deposit UST (and later other Terra-based coins) in exchange for project tokens and exclusive long-term benefits.
Each group will come with different periods of acquisition of rights. Investor deposits in TerraUSD will be locked in for the remainder of the vesting period, while the project tokens will be distributed linearly. Upon completion of the initial duration of the project token lock (set by each project team), investors can begin claiming and withdrawing the project tokens. Depending on the schedule of each project, investors can claim the project tokens before the date of withdrawal from the UST deposit promised by the investor.
Exchange of pylons for fixed exchanges
Pylon Gateway also features Pylon Swap, which is a virtual fixed exchange pool with one-way token price guarantees. Investors can exchange UST to project tokens immediately on Pylon Gateway, but they must wait for the lockout period to expire before withdrawing their project tokens.
With Pylon Swap, investors can reverse the exchange project tokens to UST during the lockdown period by paying a withdrawal fee, which increases as the demand for the reverse exchange increases. Project tokens that are reverse traded to UST will be burned to reward long-term token holders.
Future crowdfunding options
Depending on the crowdfunding preferences of each project team, Pylon Gateway can subsequently be adapted to other highly flexible financing options for projects, including Dutch auctions, blind auctions and lot auctions. Beyond token launches, future projects can provide rewards to investors in the form of NFTs, participation rights, and exclusive memberships.
Subsequent versions of Pylon Gateway will introduce project teams to instant loans that will pay off through future returns on investors’ deposits, supporting project teams that may need seed capital for early start-up. For investors, Pylon Gateway finally aims to accept deposits in other native Terra currencies, including LUNA and MINE, redirecting participation rewards to project teams.
Launch of the $MINE token
The company explained that MINE is the native governance and value accumulation token for Pylon Protocol, a suite of DeFi payments and savings products powered by performance redirection on the Terra blockchain.
In his view, MINE is designed to capture a percentage of the returns and transactions generated on all Pylon platforms, so that MINE holders directly benefit from the success of the protocol and the products built on it.
“MINE tokens will debut on the Pylon Gateway through three Pylon Pools, where investors can stake UST to receive MINE rewards in 6-month, 12-month and 18-month vested pools. While the MINE tokens will be distributed linearly during the consolidation period, investors can claim MINE rewards starting from the middle of the duration of each consolidation period (for example, starting from 3 months of the 6-month consolidation period). months, investors can claim the accumulated MINE rewards). This clause will allow investors to start claiming MINE rewards before the promised UST deposit withdrawal date”, he said.