Hi everybody! Thank you for all your responses, it’s impressive to see a community so engaged in governance discussions!
As far as I know, you can only launch liquid pools when your token is live, as some of you have already said @larocintheworld @4rest @laine_ust. Having said that, we believe Liquid Pools are a super cool idea! We hope to launch Glow soon and we’d be totally down to explore Liquid Pools in the future.
Regarding the requirement of having a minimum $MINE staked to participate in the pools cc @Cryptocavalier @laine_ust, what would be a sensible threshold in your opinion? What about 5k $MINE? We want the pools to be accessible and democratic for anyone in the Pylon community.
Looking forward to hearing your thoughts!
First of all welcome. I am pleased to see so many good projects showing up.
Personally I am convinced that the gateway approach is a very good one to raise money for a project.
I was reading your tokenomics: I miss the emission breakdown year by year. Can you add an overview on the supply at the end of year 1, year 2 and so on?
Hi, thanks for the proposal to our community.
Yes, I like 5K $Mine as a minimum entry point for the pools. This should be the minimum standard for all pools moving forward. This is overall a very small amount to hold at today’s prices.
It seems you may not be interested in doing a swap. I have a alternative thought that may interest you, in terms of rewarding $Mine stakers. What about a 4th pool, just for $Mine stakers of 10k or more? This pool would have favourable terms of 1 month cliff and 6 months vesting. That is almost like a swap - basically like a lossless swap. I’m not sure how that fits in to your tokenomics but I can tell you such a pool would be extremely popular and also create a lot of loyalty in the Pylon community to your brand.
I think all the discussion here can be summed up in one quote from Do: protocols that make their users rich, get loyal customer. So it’s up to Glow
Some don’t understand the point … no use to explain … better if you leave me to give my opinion and you do yours …
Thanks a heap for choosing Pylon and coming to the community to chat about your launch. I am really excited to see the development of the Glow X Pylon relationship.
Unfortunately, your launch has come at a bit of a rough time. The Pylon community is going through some growing pains and is trying to find a way to create a win/win for projects launching on Pylon via Pylon Pools and $Mine stakers.
I would strongly recommend reading this post (Pylon gateway suggestions - #10 by Woody) and to consider Treasury Swaps instead of creating $Mine staking requirements for Pylon Pool entry. Having a read of what you have said, the approach in the link would better meet the wants/needs you have outlined in this thread.
I know there has been some push here to have $Mine staking requirements, but I believe people don’t fully understand the usefulness of Treasury Swaps yet. It would actually be super cool to have Glow as one of the first projects to utilise Pylon’s Treasury Swaps.
Let us know what you think @aesmonty?
Looks like a fair and realistic proposal guys!
I think if you ignore the negative comments and just put it to vote you’ll find it gets approved.
@Woody, As you know I’m also a big fan of the T Swap concept… but how would we fund a Treasury Swap at the moment? We don’t have any money in the Treasury yet, afaik?
I have no hostility towards the project. You have misinterpreted. Nowhere did I say anything about the project. My comment was simply frustrating around the choices being made by pylon to allow launches that don’t give benefit to stakers.
5k MINE staked is a reasonable start. Perhaps in the future something could be built in where higher stakers get higher apy in pools. If there is a limit to the amount of UST to be staked, a head start for mine stakers was mentioned in previous promises from the team. I personally don’t like the pools if you lock up with one apy and then can’t exit when the apy drops, so a minimum apy for mine stakers could be something to think about.
There are so many ways in which mine stakers can benefit, it just takes some thinking outside the box.
this problem can be solved easily by giving MINE stakers a % multiplier, for example, give stakers with more than xxxx amount MINE a reward multiplier of 1,15 %. Thus staking rewards as your UST in the pool will give a small % more returns
My thoughts were to do it prospectively. In addition, I’d imagine the allocation wouldn’t be huge and the treasury could potentially purchase it in weekly instalments.
That said, you make a good point. If T swaps weren’t to happen, I’d be ok with special Pylon Pool rewards for Mine stakers, or to go with the original plan Glow has.
Thank you for pointing this out @blackbird. We just updated our docs including the emission breakdown and the proposed Pylon Pools in the tokenomics page.
Thank you all for all these great comments and it’s great to see how many people are committed to making Pylon the best launchpad,
There is one point i will like to add though, most of the people using Pylon and putting money in the pool for sure are people that also hold and believe in Mine, with that in mine launching your project and having the best interest of people who stake Mine will be huge for your project and you’ll get from the get-go a huge community of supporters.
I like the idea of having an amount of the token allocated to Pylon Treasure that will be purchased and sent to mine Stakers as rewards.
It’s been great discussing our proposal with the Pylon community. I appreciate also the signs of support and excitement we’ve been receiving from messages here and on Twitter.
After listening to everybody, both Pylon Council members, the broader Pylon community and our team, we are creating a Governance poll with the following changes. We’ve heard everyone and this is the result:
We will include a 5k $MINE staked threshold to participate in the pools. We believe this rewards MINE stakers and is democratic at the same time with the broad Pylon community.
We will reserve a 4M GLOW allocation for future endeavours with the Pylon community, such as a Treasury Swap or a Liquid Pool. We all are pretty excited about these! Since they are quite innovative, we expect to refine the best strategy with the Pylon Council Members and the community in the future. These will happen after the token is live, so we believe the Pylon Pools are still by far the best opportunity for community members to early co-invest in Glow.
As such, we will allocate 21M GLOW to the Pylon Pools. We think that Pylon Pools is a key yield infrastructure in the Terra ecosystem that has made Pylon Gateway one of the most innovative launchpads in the whole crypto space. At Glow, we are all about yield use-cases, so lossless investments ftw!
Last but not least, we will keep the proposed 10M GLOW airdrop to MINE stakers. Even if hasn’t been much discussed in the forum, we have received a lot of messages super excited about this. It’s quite a generous fraction of the token supply (1%). Since all of you MINE stakers will receive GLOW airdrops, we welcome you to join our community.
Thank you for all your ideas and support. Let’s bring DeFi yields to the mainstream together!
The new structure of the Pools will be the following.
We are allocating 21M $GLOW (2.1% of the total supply) in 3 Pylon pools, with a minimum 5k $MINE staked required to enter. The breakdown of the pools are:
- Pool 1
- Token allocation: 2M $GLOW
- Vesting period: 6 months
- Glow rewards claimable after 3 months
- Pool 2
- Token allocation: 5.5M $GLOW
- Vesting period: 12 months
- Glow rewards claimable after 6 months
- Pool 3
- Token allocation: 13.5M $GLOW
- Vesting period: 18 months
- Glow rewards claimable after 9 months
Thank you so much for listening to the community and working with us. Communication and flexibility is something a lot of people in here have been wanting from projects. You guys are absolute chads for doing this. Pumped for the Glow X Pylon future!!!
Thank you for listening to the Community and Council @aesmonty and working in some of the suggested changes - really looking forward to seeing GLOW take off.
I would personally love to see the 4M go towards a Treasury Swap rather than a new Pool, given that 3 pools will already be live at that time.
The Airdrop is very welcome!
Very generous airdrop for MINE holder, well done team. I think many people underestimate the power of multiple airdrops. Right now with only PSI and TWD they make up to 20-25% APR (with current PSI/TWD/MINE) prices.
Hey everyone, thanks for the support again! We just submitted the governance poll and it’s open for voting here Pylon Webapp