Pylon Protocol
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Welcome! This is where you will find all the information you hope to learn about Pylon Protocol, and all documentation for the functional and technical aspects of Pylon Protocol's main products. This is a live document that will be updated as the protocol evolves over time.
You can access Pylon Protocol through the official landing page, trade and stake Pylon's native governance tokens (MINE) on the Pylon WebApp, and deposit Terra stablecoins (UST) to earn early stage project tokens via Pylon Gateway.
What is Pylon Protocol? 💎
Pylon Protocol consists of a suite of savings and payments products in Decentralized Finance (DeFi) that builds on stable yield-bearing protocols including Anchor Protocol to provide services powered by user deposits. Pylon enables sustainable exchanges between long-term value providers and their consumers through customizable deposit contracts and Anchor yield redirection.
As a promising future standard of programmable payments, Pylon introduces a new paradigm of incentive alignment between payers and payees, consumers and creators, patrons and artists, investors and entrepreneurs, borrowers and lenders, and many more relationships. The protocol is maintained by various independent platforms and is governed by holders of Pylon's native governance token also known as $MINE.
What problem is Pylon trying to solve?
In a conventional value transfer model, a seller offers some good or service and a buyer pays with money or barter. While this model works well for immediate and one-off transactions, it fails to effectively capture value for transactions over a sustained period of time involving recurring services and consumption. Consider the following cases:
- 1.Sellers of future value or unascertained goods (early-stage startups, crowdfunding, initial coin offerings, etc.) may not be incentivized to deliver value over time if they receive all the funds upfront.
- 2.Sellers of intangible value (artists, musicians, livestreamers, content creators, etc.) may struggle to monetize their niche creative content offerings and receive steady payouts that reflect fanbase growth over time.
- 3.Sellers of recurring value (content IP, SaaS software, subscription-based services, etc.) may need to rely on discounts to fair value to reduce churn.
- 4.Lenders of illiquid assets (real estate, cars, luxury items, etc.) may lack a venue to securely lease their assets over time and be provided with proper recourse for contract violations.
Pylon provides each of these parties with the technical toolkit necessary to readjust their payments options and accommodate long-term services that garner value with the growth of an active customer base. Pylon aspires to build a wide array of consumer-friendly payments and savings platforms that integrate complex DeFi payments infrastructure via simple user deposits.
Deposit with Pylon
Pylon unlocks a new suite of options for payments, patronage, investments, rentals, and savings. When realized as a payments gateway, Pylon is a principal-protected payment product where users can finance recurring services (i.e. subscriptions, memberships, content offerings) via "key money" stablecoin deposits and consistent interest payouts.
Most simply put, users can deposit stablecoins and spend accrued yields on platform services and content offerings. Upon subscription expiry, users can withdraw their principal in full. Platforms can easily integrate the "Deposit with Pylon" widget in 10 lines of code.
By making a simple retrievable deposit, users essentially receive "no-fee" subscription services; contribute to charity and academic research in perpetuity; support their admired artists and gain access to gated content and NFT airdrops; rent cars and condos with their principal as collateral; enter no-loss prize games and mystery box giveaways with prize savings accounts; and make lossless investments in startup blockchain projects with all the upsides of being an early investor.
Reimagining the future of recurring payments and providing convenient platform integrations for the mainstream adoption of crypto, Pylon aims to become a must-have feature of the DeFi future. Forthcoming Pylon innovations plan to stretch the design space for programmable payments and represent an exciting paradigm shift for real-world DeFi applications.
Core Products
Rather than limiting itself to a single platform, Pylon intertwines a series of decentralized, modular payments and savings gateways. Pylon's core products include a project launchpad, yield-integration widget, and a dashboard for staking rewards. Pylon's products are configured in a way that allows for the entire platform to maintain decentralized governance by MINE token holders, while continuing to innovate with platform integrations.
Pylon Gateway
Pylon Gateway is a user-friendly token launchpad for forthcoming projects in the Terra ecosystem, and Pylon Protocol’s first fully integrated use case and flagship platform.
Pylon Protocol WebApp
Pylon's WebApp allows users to easily trade and stake MINE, vote on community governance proposals, engage with the Pylon community, and propose ideas for future platform growth.
"Deposit with Pylon" Widget
Pylon will soon be launching a widget and SDK which new and existing platforms can simply integrate into their payment options. This would allow users on any crypto-friendly site to pay for services via user deposits and automatically redirect yield to creators and platforms.
"You Must Build Additional Pylons..."
Forthcoming platforms building on Pylon Protocol span the range of applications in philanthropy, arts and entertainment, hospitality and tourism, real estate, savings accounts, sweepstakes, as well as other recurring subscriptions and membership programs.
Terraform Labs and Pylon's core team is currently developing a second flagship product which aims for mainstream adoption, planning to launch in Q3.
Sections
Further documentation of Pylon Protocol is provided in the following pages.
- Read up on the specifications and descriptions of Pylon's main offerings
- Check out Pylon's core smart contracts and the mechanics of deposit provider contracts
- Find out how to invest in Pylon's native governance token MINE via Pylon Gateway
- Engage in governance and Pylon's forum through governance proposals
- Learn about the mechanics behind the yield-generating protocols that support Pylon
- Discover forthcoming service provider platforms powered by Pylon's payments-via-deposits
Communication Channels
Pylon Protocol Links
Last modified 2mo ago