The Pyrin Community voted with 58% to make a hard fork that would give the fairlaunch project access to 30,000,000 $PYI to support its growth and achieve a more professional focus in development, marketing and markets.
In this report we would like to explain the reasons for this decision and emphasize why it is beneficial for both the community and the project as a whole.
Why the hard fork
- Development: The additional coins will be used to advance the development of the Pyrin ecosystem. This includes funding for new features, faster development of Smart Contracts, PAIW, upgrades and improvements that make the project more attractive and feature-rich.
- Exchange Listings: By generating additional coins, we have the opportunity to strengthen our presence on various crypto exchanges, primarily some of the top 10 exchanges. This allows a wider audience to access $PYI.
- Marketing: Another part of the coins generated will be used for marketing and advertising measures to increase awareness of Pyrin and attract new users. This will help accelerate the project’s growth and build a larger community.
Benefits for the community
- Increased Liquidity: By being listed on multiple crypto exchanges, the liquidity of coins is increased, making it easier for users to buy, sell and trade them.
- Improved Functionality: Financial support from the additional coins allows us to further improve the Pyrin ecosystem and add new features that better meet the needs of the community.
- Increased Awareness: Marketing efforts funded by the generated coins help increase Pyrin’s awareness and attract new users. This can help grow the community and promote long-term growth of the project.
Planned division and process
The hard fork is designed to mint an additional 30,000,000 coins to the current total supply of 882,613,435 $PYI, resulting in an increase to 912,613,435 $PYI. These additional coins will also be part of the circulating supply after the hard fork is triggered.
Pyrin emission schedule
All $PYI will be distributed to two designated multisignature wallets:
1. Development account
2. Primary account
These wallets will be publicly accessible, and any significant decisions, such as listing on exchanges, will be communicated transparently to the community. If necessary, we will initiate a voting process (e.g., requiring X $PYI to oppose listing). $PYI will be our only medium of exchange. We have no intention of engaging in price manipulation or dumping.
No concerns about inflation and embezzlement
It is important to emphasize that the hard fork will be carefully planned and executed to ensure there are no concerns about inflation or misappropriation. The additional coins will be used transparently for the stated purposes and distributed according to the needs and priorities of the project.
Finally, we would like to emphasize that the hard fork is a strategic decision aimed at strengthening Pyrin’s long-term resilience and growth prospects. We are confident that this measure will be of great benefit to both the community and the project as a whole.
Thank you for your support and trust in Pyrin.
About Pyrin
Pyrin, a decentralized Kaspa fork integrated with Blake3, combines BlockDAG and GhostDAG with innovative Smart Contracts, ensuring scalable and instant transactions with low fees and introduces a groundbreaking resource-managing Proof-of-Work (PAIW).
