The Updated Pylon Token Paper Is Out!

  • Clarifying the significance of PYLNC in the Pylon ecosystem in the longer term.
  • Clarifying the role and intrinsic value of PYLNC and the surrounding infrastructure (i.e. federated nodes) and the relationship between PYLNT & PYLNC.
  • Offering further clarifications on how Pylon plans to disrupt the energy sector in the long term (starting from EU).

The token paper has been published on our website and can be found here.

This post provides a summary of its highlights, which follows. Enjoy!

1. Becoming a federated node

  • - The user sends the required amount of PYLNT to a Pylon address, a signed text with an address and the address with which he/she signs.
  • - A script will “listen” to the received tx at the Pylon address, it will check the signature and send it to the Pylon team.
  • - Inside the script, a certificate is generated and encrypted, which is then used to mount the node.

Normal User:

  • - From PylonNetwork, we will enable an easy system for the end user to make a deposit of tokens (staking) and the PylonNetwork team will carry out the set up and maintenance of the node — free of charge.
  • - This user will have a key, which if he/she imports it to the official pylon network wallet, he/she will be able to view the balance of coins. It will also be possible to know the status of their node(s) via the blockchain explorer.

Pro User:

  • - An image will be downloaded and installed on a server. This image will already have the PYLNC address integrated, where the mining reward will be received.
  • - To start the node you will have to insert the KEY and go through the certification process.

2. Frequency and process of PYLNC distribution to Federated Nodes & PYLNT-holders

PYLNC distributions for Federated Nodes

  • - Federated nodes receive 80% of the PYLNC rewards.
  • - Distributions of PYLNC to federated nodes occur on every block.
  • - The distribution occurs automatically to the integrated PYLNC wallets of the federated nodes.
  • - The official PYLNC wallet can be synchronized with the integrated wallet of the federated nodes.

PYLNC distributions for PYLNT-holders

  • - PYLNT-holders receive 20% of the PYLNC rewards.
  • - PYLNT-holders can choose to commit their tokens for a period of one year (staking), or not.
  • - Distributions of PYLNC to PYLNT-holders, who commit their tokens, occur daily (every 24 hours).
  • - Distributions of PYLNC to PYLNT-holders who do not commit their tokens, occur once per year.
  • - The official PYLNT wallet will be used for the distribution process.

3. The value of PYLNC and the transition period after Mainnet launch

4. Pre-mined PYLNC & Genesis Federated Nodes

5. Whitelist for federated nodes and launch of MainNet

6. Market implementation and business strategy

7. The fresh looks!

Download the full version of our updated Token Paper here.

Got questions about the Token Paper? Join us on Telegram and talk directly to the team!

Stay tuned. Stay connected. Stay updated.

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Pylon Network

Pylon Network

Pylon Network is a neutral energy database by-design. Our aim: to instigate cooperation in the digitalized energy sector - #Blockchain #EnergyWise $PYLNT $PYLNC