Since its presentation to the public, the Pylon Eco Token (PETN) has undergone a transformation. Initially, it was issued as a utility token, with the qualities of securities token and cryptocurrency. But as the project evolved further, the founding team decided to upgrade PETN to the status of governance token.
As it is known the governance token allows the token holders to take part in the voting process. They will decide to what project give a priority and allocate more funds comparing other projects. This is in a true spirit of a public project and we could say that Pylon Eco Token is in fact the public project.
Initially, it was decided to set priorities regarding the portfolio asset funding to the group of experts from different fields that have the knowledge and experience to decide what projects require to allocate more financial resources and what projects need less funding. Definitely, this is a scheme that many corporations both private and public apply, but later as we developed the project founding members agreed that the right to a decision should be given to those who are in fact of the biggest supporter of our project – token holders. So, based on the concept of the Pylon Eco Token project, the governance token perfectly matches the very inward nature of this project.
We do believe that delegating the right of decision to the token holders will only make our project effective and durable.