A SUMMARY OF $PYLNT REWARD PROGRAM
As we have announced in our updated tokenomics release (see here), we have launched the $PYLNT reward program, addressed to the ICO investors.
The ICO investors that enroll in the program will receive a percentage of the net profits from the commercial activities related to PylonData on an annual basis.
This article is providing an update of the current progress of the program and it is intended to serve as an information overview for the public.
More information is provided in the sections below.
ICO Investor Program: In a Nutshell
The enrollment process has been open and running since the 10 Jun 2020 and will be finalized on 14 Aug 2020.
From the 235 initial ICO investors, 25 of them have enrolled on the program by committing a total of 23,838.65 PYLNT.
These tokens represent 3.8% of the total supply (633,858), as shown in the figure below.
ICO Investor Program: $PYLNT Withdrawn from Circulation
The tokens from the enrolled investors will remain locked by contract. All tokens are to be deposited on the following public address (wallet):
Since the tokens cannot be burnt, locked or frozen by the smart contract (after the recent update of the smart contract, which abolished these functions for the security of the token holders) the tokens will be cold stored in the above wallet forever.
In other words, the tokens deposited in this wallet / address cannot be moved by anyone and for any reason (as secured by the legal contract between Pylon and the ICO investors program participants) and that these tokens will be essentially out of the circulating & total supply.
*For more information regarding the smart contract patch have a look here: https://pylon-network.org/smart-contract-patch-pylnt-ready.html
ICO Investor Program: Participation in Numbers
The 25 ICO investors that will participate in the program, will receive – cumulatively – 10% of the net profits from the PylonData activity. The exact amount that each investor will receive, will be depending on their share of PylonTokens committed to the Program, compared to the total participation amount (i.e. 23,838.65).
Pylon team will provide the ICO investor participants with an annual update of the operation and financial performance of PylonData.
Finally, note that the profits will be distributed annually.
ICO Investor Program: Closing Remarks
For the rest of the Pylon token holders (i.e. non-ICO investors or ICO investors that do not wish to participate in the program) nothing changes regarding their rights to transfer, purchase or sell their tokens in crypto-exchanges. In addition, no action is required.
IMPORTANT: $PYLNT holders who have not participated in the ICO and have not been in contact with the team regarding their participation in the program should not send their tokens to the designated wallet / public address, mentioned above (i.e. 0x2Ad490dD89c881E36A77e803D3976C1cC6fd0702)
In case you have any questions, do not hesitate to contact by mail at [email protected] or via any of the digital channels, found below.