pNetwork Token (PNT) is now available on Kyber Network

Published in

Kyber Network

5 min readJun 23, 2020

We’re happy to announce that Eidoo has added liquidity for PNT (pNetwork Token) on Kyber Network! PNT will be added to the Kyber FPR (Fed Price Reserve).

The PNT token will be accessible through KyberSwap and other DApps and platforms that are powered by Kyber’s on-chain liquidity protocol — the most popular #DeFi protocol in terms of number of users and integrations.

To date, Kyber Network collectively supports over 70 ERC20 tokens. Learn how to buy/sell ERC20 tokens on KyberSwap with our basic guide.

Listing information for PNT

Listing date: Tue, 23 June, 2020
Listing time: 9 PM (GMT+8)

About Eidoo

Eidoo’s goal is to improve how people manage their assets, invest, and make a profit in the blockchain economy. The Eidoo Wallet is the heart of the entire project. It is natively multi-asset and designed for the mobile world: a single integrated environment that will be used to manage all tokens without the need for complex configurations.

Provable Things is the sister company of Eidoo. The teams work closely together to excel at the forefront of blockchain innovation. They bring together their complementary expertise and cohesive technologies, contributing to the overall development and growth of the decentralized financial industry.

About PNT

PNT is the utility token at the center of the Eidoo ecosystem — its purpose is to give access to a variety of services. Within the Eidoo wallet app, it is possible to transact on multiple blockchains using PNT to pay the network fees or transaction fees in the app’s built-in Hybrid Exchange.

Eidoo has worked with their sister company, Provable Things, to upgrade EDO into the new token PNT to enhance its utility and functionality.

This upgrade resulted in EDO being relabelled as PNT. PNT will still provide all the same benefits users are used to, giving users access to industry-first features, like the Eidoo Card cashback program and the in-app Atomic Swap feature.

However, users are also invited to participate in an entirely new ecosystem altogether — the pNetwork.

What is the pNetwork?

Eidoo recently announced its integration with pTokens. It’s an industry-first solution initially launched by the main development team behind Provable Things. The pTokens solution aims to unlock liquidity in decentralized finance by making every cryptocurrency compatible with every blockchain.The first of the pTokens series to launch was pBTC, making Bitcoin compatible with the Ethereum and EOS networks. You can already get pBTC in your Eidoo wallet by simply swapping it with some other tokens. You can also mint and redeem your own pBTC for yourself, directly in the wallet.

The pNetwork is the underlying, open source architecture which powers the pTokens system. The pNetwork is essentially a network of nodes called “validators” who keep the system running, ensuring the minting and redeeming of pTokens is done in an efficient and secure way. They also ensure there is no single point of failure and that bad actors can’t infiltrate the system or compromise it.

Anyone holding PNT will be able to join the pNetwork DAO and play a role in the governance of this pTokens system. PNT holders can vote on different improvement and development proposals. For example, members can vote on which new pTokens “bridges” should be developed next, such as pLTC on Ethereum.

The pTokens project represents a new paradigm for the whole DeFi ecosystem. The ability for a cryptocurrency to “move” across different blockchains is helping to unlock liquidity in the market and push DeFi beyond its current boundaries.

What are the benefits of the PNT token?

The PNT token will serve all the functions previously served by the EDO token. It acquires additional utility, enabling PNT holders to actively participate in the pNetwork ecosystem,

The PNT token aligns incentives for all network participants, enabling operations for both validators and DAO members.

During the first stages of the pNetwork, an economic incentive is also introduced to the system to encourage users to actively participate within the DAO. In these first two years, all those who stake PNT will see their tokens grow thanks to an overall interest rate of 63% over two years. Up to 28,350,000 PNT tokens are dedicated to this initiative, which are generated through an inflation mechanism.

For anyone wanting to join the pNetwork as a validator (node), a stake of 200K PNT tokens is needed. This not only demonstrates commitment and serves as a bond, but creates a potential economic benefit for all validators who are rewarded for their work with the pTokens system’s peg-in and peg-out fees. Validators are also eligible for the 63% interest over two years on the tokens they stake.

Get to know pTokens by reading this introductory guide. Or for something more technical, check out everything you need to know about the pNetwork.

For more information on Eidoo:

Blog: https://cryptonomist.ch/blog/eidoo/
Telegram: https://t.me/eidoocryptoworld/
Twitter: https://twitter.com/eidoo_io/
Facebook: https://www.facebook.com/eidoocrypto/
LinkedIn: https://www.linkedin.com/company/11232699/
Reddit: https://www.reddit.com/r/eidooapp/
Website: https://eidoo.io/
pTokens Telegram: https://t.me/ptokens
pTokens Twitter: https://twitter.com/ptokens_io

Token information: PNT

Etherscan: https://etherscan.io/token/0x89ab32156e46f46d02ade3fecbe5fc4243b9aaed

Coingecko: https://www.coingecko.com/en/coins/pnetwork#markets

About Kyber Network

Kyber’s on-chain liquidity protocol allows decentralized token swaps to be integrated into any application, enabling value exchange to be performed seamlessly between all parties in the ecosystem. Using this protocol, developers can build innovative payment flows and applications, including instant token swap services, ERC20 payments, and financial DApps — helping to build a world where any token is usable anywhere.

Kyber is the most used and integrated decentralized finance (DeFi) protocol in the world, with over US$1Billion worth of transactions facilitated since its inception. Kyber supports over 80 different tokens, and powers over 100 integrated projects including popular wallets MEW, Trust, Enjin, Argent, and the HTC Exodus smartphone, as well as DeFi platforms Nuo, DeFiSaver, InstaDApp, Set Protocol, Melon, and many others.

Watch this intro video: https://t.co/aT1ZfFWryM