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The Pylon Protocol is a decentralised finance (DeFi) application built to offer users a vast range of savings and payment products. While Pylon believes that the traditional transfer model works well when a buyer is purchasing a good or service from a seller, it also believes that the system breaks down when businesses or individuals are looking to sell a range of different products. In particular, the protocol aims to serve those that are selling future value - such as start-ups, those that are selling intangible value - such as artists or musicians, those that are selling recurring value - such as subscriptions, and those lending illiquid assets - such as real estate.
According to the project’s documentation, the protocol was developed on the Terra blockchain. Thanks to the Terra blockchain and the DeFi opportunities available users can deposit Terra native cryptocurrency assets into the Pylon Protocol which can begin to accrue yield. That yield can then be used to pay for subscriptions or other services/content offerings, which allows payments to be completed for free at times. In addition to payment services, the Pylon Protocol offers Pylon Gateway - a launchpad for upcoming Terra-based projects, and the Pylon WebApp - an application that allows users to stake native cryptocurrencies. The protocol hopes to release a “Deposit with Pylon” widget which can be integrated with crypto-friendly sites in the future.
MINE is the native governance token of the Pylon Protocol. The token helps to redistribute the protocol’s profits and helps users govern the direction of the platform. Those staking MINE can receive rewards and also vote on decisions involving the community fund, launchpad projects, the development of new features, and the distribution of profits.
Pylon Protocol (MINE) is the 1497th largest cryptocurrency in the world by market cap, valued at $2,755,922. The current price of Pylon Protocol is $0.0018251828, which is -19.086% lower than yesterday. Prices have ranged between $0.0025406072 and $0.0016252184 over the past 24 hours. All prices are listed in Australian dollars (unless otherwise noted) and accurate as of May 19, 2022 07:05 UTC.
| Coin symbol | MINE |
|---|---|
| Coin Marketcap | AUD$2,755,922 |
| Total MINE supply | 10,000,000,000 |
| Circulating MINE | 2,155,604,284 |
| Current price | AUD$0.0018251828 |
| All time high date | October 15, 2021 |
Historical prices compared with the price of $0.0018251828.
| 1 hour | 0.13% |
|---|---|
| 24 hours | -19.09% |
| 7 days | -91.22% |
| 14 days | -95.87% |
| 30 days | -96.18% |
|---|---|
| 60 days | -97.84% |
| 200 days | -99.01% |
| 1 year | N/A |
![Did Ethereum Name Service [ENS] revenue stream hit a record high in May](https://images.cryptocompare.com/news/default/ambcrypto.png)
Disclaimer: Cryptocurrencies, including Pylon Protocol, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MINE is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Pylon Protocol or any other cryptocurrency discussed.
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