March 21, 2023

What You Need to Know About the Pylon Protocol

The success of crypto coins and blockchain technology has led to the development of new products. One such example is decentralized finance systems, aka DeFi. These systems allow more people to leverage on the benefits of blockchain tech. Decentralized finance systems give owners complete control over their crypto assets. Other benefits of blockchain technology include cheaper transaction fees and privacy.

Pylon protocol is built on top of the Terra blockchain. It features a set of payment and savings products that allows service providers and customers make sustainable exchanges. The protocol is managed by investors who hold Pylon governance tokens. Pylon users can pay for products or services using Terra stablecoins.

Payments Via Yield

Pylon allows users to purchase and deposit Terra stablecoins in their crypto wallets. Users can then continue using products or services available on the platform. In exchange, product owners or merchants get paid with the interest earned from the principal earned by the customer’s deposit.

This way, users can enjoy multiple services without incurring any extra expenses. The user can also cancel the subscription at any time and still gets to keep their principal. This payments feature allows investors to access free services and airdrops of upcoming projects on the Terra blockchain network.

Retrievable Deposits

Pylon protocol allows users to deposit and withdraw their deposits whenever they want. The high-yield accounts generate interest. The earned interest can be used to pay for services or purchase other crypto products such as NFTs.

Users can withdraw the principal upon expiry of their subscriptions. This feature allows crypto investors to make risk-free investments in NFTs and other services available on the Pylon protocol. As mentioned before, the interest earned by your principal is what is used to pay for services you have subscribed to. You can read more about investing and using the Pylon protocol here on Loop.

Pylon Launchpad

Investors looking to put their money on future projects available on the Pylon protocol can do so via the Pylon launchpad. This platform allows investors to have early-bird access on upcoming projects.

Investors will need to purchase Terra stablecoins. These stablecoins can be used to purchase tokens on the Pylon protocol. Investors can also choose to buy governance tokens which will allow them to vote and be part of the team overseeing the project. You can choose to withdraw your investment after a set period.

The Pylon launchpad allows early investors crowdfund for upcoming projects. They also stand a chance to win gifts such as airdrops. Their invested base capital also earns interest, which is used to fund the project.

Bottom Line

If you’re a digital artist, musician, or content creator, Pylon protocol creates a ready-made solution for you to monetize your products. If you’re planning to create a startup, you can also set up a crowdfunding on the Pylon protocol. Investors have a chance to place their money on upcoming startups without running the risk of losing their money of the project flops.

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