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What is MINE token used for in Pylon protocol?

What is MINE token?

MINE is the governance and utility token of Pylon protocol.

What is MINE token used for?

  • Governance of the protocol
  • Capture are portion of the yield on the platform

What is Pylon?

Pylon is a principal protected payment product. Depositors finance subscriptions with yields over time.

Service owners can enable pay with Pylon on their site with a few lines of code.

How does Pylon work?

Pylon consists of a series of payment and savings products for assets, goods and intagible where buyer and seller benefit from a long-term transaction.

It features lockups, vesting periods and yields over time.

A few areas that could benefit from Pylon.

  • Startups/tokens/projects – Value is uncertain short term and creators may not be incentivized correctly if paid in full upfront.
  • Intagibles – Artists, musicicans can monetize a fan base over time.
  • Subscriptions
  • Illiquid assets – For lenders.

Launchpad

Pylon Gateway features launchpad on the Luna blockchain which distributes incubated tokens in the form of locked and vested yields.

Users of the platform receive there initial capital back after lock up period.

Users can deposit UST to a project to earn the token as yield over time.

Usually a project has 3 different pools with different APYs and lockup period.

For example:

  • Pool 1 – Lockup 9 months, vested 18 months.
  • Pool 2 – Lockup 6 months, vesting 12.
  • Pool 1 – Lockup 1 month, vesting 6 months.

Token holders

  • 10% of interest, revenues and fees of Pylon projects will be used to buyback MINE
  • 20% of yield will be used to buyback mine and airdrop to MINE stakers in the governance pool.

MINE tokenomics

Total supply: 10 000 000 000

Token distribution: Linearly over 4 years

Issuance:

  • 4% – Launchpad
  • 16% – Community
  • 40% – Depositor incentives
  • 10% – Luna Stakers
  • 5% – Luna Airdrop
  • 10% – Team
  • 15% – Mine LP incentives

DOCS

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