Thread by @terra_money

1/ In our fourth issue of Terra’s Project Spotlight, we’re thrilled to introduce @pylon_protocol --  a yield-based saving, payment, and launchpad platform built on Terra.

medium.com/terra-money/pr…

2/ Pylon is the 5th app incubated by the TFL team, following Chai, Mirror, Anchor, & Nebula. Pylon similarly infuses itself with the theme of “looking outwards,” where adoption, accessibility, & use cases that appeal to the average user are powered by Terra’s DeFi ecosystem

3/ The idea enshrined in Pylon is to swap “payments-in-principal with payments-in-cashflow” using Anchor’s high-yield, low-volatility deposit rate.

Anchor’s ability to unlock new dimensions for user engagement with products and services is powerful.

4/ Pylon unlocks a new suite of options for payments, philanthropy, patronage, investments, rentals, and savings, reimagining long-term relationships and incentive contracts b/w payers & payees, consumers & creators, patrons & artists, and investors & entrepreneurs.

5/ Wielding the phrase “Deposit Money, Spend Yields,” Pylon’s ambitions reflect the idea that principal-protected yield payments of stablecoins erode the notion of short-term payments of principal enduring as the status quo.

6/ Fusing the advantages of stablecoins, the high-yields of Anchor, and the composability of DeFi Pylon ushers in a new primitive of incentive alignment — “no-fee” products and services or “lossless,” value-additive investments.

7/ Pylon consists of two primary groups: creators/sellers & users.

Creators are anyone that issues a product, seeks fundraising, or provides some type of service to an audience of patrons.

8/ Users engage with the deposit contract directly by depositing UST, earning deposit provider tokens (for short, “DP tokens,” analogous to LP tokens) representing a stake in the investment relative to the size of UST deposited.

9/ DP tokens can be redeemable for UST (the original deposit) and could be used to claim project tokens or access different services — just like a membership badge/card.

10/ Pylon contains 3 core products:

1. Pylon Gateway (Launchpad)
2. Pylon Widget
3. Pylon Dashboard (Web App)

11/ The initial Pylon-integrated product will be the Pylon Gateway, a yield-funded launchpad for projects building on Terra. The Pylon Widget is the protocol’s Swiss Army Knife, providing a tool easily integrated into existing applications — both crypto-native and non-crypto.

12/ The Widget will be accompanied by an SDK, providing product or service providers of various types with a seamless ability to introduce yield-based payments, savings, and investing into their application or community of patrons.

13/ Pylon’s WebApp Dashboard allows users to easily trade and stake Pylon’s native utility tokens, vote on community governance proposals, engage with the Pylon community, and propose ideas for future platform growth.

14/ Pylon opens up a world of possibilities & can be customized for both crypto and mainstream audiences, providing individuals with a fresh way to launch projects and provide services to an audience of patrons.