Introduction

Today I took a look at a new Crypto project I discovered today. The Pylon Protocol. Pylon is an innovative project in the terra ecosystem with MINE as their native governance token. 

What is Pylon Exactly?

Pylon is a yield redirection protocol. 

You deposit UST in a protocol that generates yield, like Anchor, and use the yield generated to pay for a service. Once you are done with the service you can withdraw your initial deposit.

For example, you deposit a large amount of money that generates enough yield to pay for your Netflix subscription so you don't have to worry about it anymore.

Other features of the Pylon Protocol

• Trade and stake the MINE token
• Deposit stablecoin (UST) in a pool to earn early-stage project tokens as a reward

Core products

The Pylon gateway

A launchpad platform for new upcoming tokens in the terra ecosystem 

deposit UST and earn interest in the new token.

WebApp

The place to trade and stake MINE, vote on governance proposals and interact with the community.

Deposit with pylon widget

Not yet been implemented but this will allow for easy pylon integration in payment systems 

MINE token

I won't go into too many details about the token just some basic stuff to know.

MINE is the native utility token of the protocol. 

The main use cases are to stake and generate yield and governance.

The token has a hard cap supply of 10,000,000,000 MINE. This will be distributed in 4 years. After that period no new MINE will be added to the supply.

MINE is at the time of writing this article priced at 0.15$.

The market cap is sitting at $92,314,991

Conclusion

I think Pylon is building something with a good use case and future. It is still early in development but with adoption, it could grow fast and become a mainstream used product.

If you are interested in Pylon and want to see more in-depth what Pylon does you should check out the website and docs.

Docs: https://docs.pylon.money/

Website: https://www.pylon.money/

Thanks for reading this article 

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