Pylon Protocol’s MINE Staking Rewards

Buy MINE and Stake MINE. Claim what’s yours.

The aim of this article is to provide a comprehensive overview of MINE staking benefits, outline overarching frameworks for MINE integrations on forthcoming Pylon-based platforms, and clarify MINE token utility as more projects and partnerships arise on top of the Pylon and Terra ecosystem.

For a backgrounder on the foundations of MINE tokenomics and ways to invest and trade MINE, read this earlier Medium article on “Investing in MINE,’’ as well as Pylon’s documentation.

Perks for MINE stakers on Pylon Gateway

Unless explicitly stated otherwise, “MINE staking” refers to the auto-compounded single-asset MINE staking on Pylon WebApp. That said, there may be cases where MINE-UST liquidity providers and MINE investors on Pylon Gateway are also eligible for these benefits.

Pylon Swaps

Forthcoming Pylon Swaps (virtual fixed swap of UST for project tokens) may feature an early priority queue and/or higher maximum caps for MINE stakers and liquidity providers to the MINE-UST pool. Specific details around caps and eligibility will vary for each iteration of the swap.

The total amount of MINE staked (calculated via periodic snapshots pre-launch) will determine early allocations into pool entries as well as the maximum amount of UST that investors can commit to each virtual fixed swap pool.

Pylon Pools

All Pylon Pools will dedicate 20% of accrued yields for MINE token buybacks on TerraSwap, which will be distributed entirely to MINE stakers. The remaining 80% of yields will be redirected to project teams.

MINE buybacks will go into effect on July 26th, 2021, in order to provide initial buy demand and encourage new MINE holders to stake their MINE holdings. The yields accrued from the ~$10.6M UST deposits on Pylon Gateway (as of today) will be powering the initial annual percentage yield (APY) for MINE stakers.

On a project-by-project basis, additional benefits for MINE stakers may include early access queues, higher maximum deposit allocations, higher rates of project token distribution per MINE staked, exclusive participation in MINE staking pools, and/or project token airdrops.

Instead of a singular genesis snapshot like airdrops for LUNA stakers, airdrops for MINE stakers will be cumulatively distributed over a designated period of time (similar to how current UST stakers on Pylon Gateway receive accumulated MINE rewards over time). This is designed to reward long-term MINE holders, not those who just stake for a single day and unstake the day after snapshot.

To elaborate on the MINE staking pools, MINE stakers on the WebApp will be granted access to selected Pylon Gateway project launches where investors can stake additional MINE to earn project tokens in specialized Pylon Pools for MINE staking, instead of UST.

Forthcoming Projects

On top of the extensive lineup of Terra projects in development that will arrive by the end of this year, the three confirmed project token launches coming to Pylon Gateway by the month of August will be integrating one or more of the aforementioned perks for MINE stakers.

It is up to the discretion of each project team to decide which token distribution strategy is most suitable for their project needs. That said, reserving a portion of project tokens for airdrops for MINE stakers and a percentage of accumulated yields for MINE buybacks will be the minimum standard for all new project token launches coming to Pylon Gateway.

Perks for MINE stakers on Pylon-Based Platforms

Remember that Pylon Protocol encompasses much more than a fair project launchpad: it is a new DeFi standard for yield redirection and sustainable payments via cashflow.

All yield-generating platforms on Pylon will be implementing MINE buybacks for MINE stakers, committing at least 10% of yields across all platforms for MINE buybacks. Each platform may build in additional platform-specific rewards for long-term MINE stakers, including access to exclusive content, NFT airdrops, special discounts, and so forth.

Terraform Labs is currently in the works of building Pylon’s second flagship product, which aims for mainstream adoption (plans to launch in Q3).

This platform will be integrating benefits for long-time MINE stakers, with snapshots taken periodically to determine user MINE holdings over time until the date of launch. The platform will also feature a MINE stakers leaderboard wherein the top MINE stakers in a given category will receive VIP perks.

On top of that, Pylon will be primarily used to roll out all Terra-based community grants and DAO membership fees.

MINE Governance

The grand vision of Pylon Protocol involves progressive decentralization where major decisions are made via discussions on Discord and the Pylon Forum, as well as voting via governance proposals on the WebApp.

Although the first couple of projects to launch on Pylon Gateway will be carefully selected by Terraform Labs and the Pylon team, the aim is to make Pylon Gateway entirely permissionless within the end of year.

Once governance pools go live on the WebApp, MINE stakers will be able to make proposals and vote on topics including but not limited to:

1. Gradually transitioning from a buyback-and-distribute model to a buyback-and-burn model.
2. Vetting and whitelisting project token launches on Pylon Gateway.
3. Cutting off projects from receiving further funding via Pylon Gateway if that project does not meet their stated long-term goals and promises.
4. Rolling out community fund grants for proposed projects.

“You Must Construct Additional Pylons…”

In essence, the more MINE you hold and the longer you hold it, the more benefits you’ll get on forthcoming Pylon and Terra projects.

Perks for MINE stakers will roll out from the date of MINE Pylon Swap unlock, strongly encouraging new MINE holders to stake their MINE holdings from Day 1 and onboard Pylon’s long-term battlecruiser.

Pylon WebApp — https://app.pylon.money/

Pylon Gateway — http://gateway.pylon.money/

Twitter — https://twitter.com/pylon_protocol

Telegram — https://t.me/pylon_protocol

Medium — https://medium.com/terra-money/pylon-protocol-e2a622ac553e

If you are a project team hoping to launch on Pylon Gateway, please reach out to <contact@pylon.money> or fill out the application form.