Progress report October – December 2021

Description: This progress report is an item-by-item assessment of the current status to date of predefined tasks in reference to their expected final completion status. This document was prepared as an assessment of the relative progress of an ongoing work plan for the Pylon Eco Token (PETN) project.

Progress Report

PYLON ECO TOKEN (PETN)

DATE: 02.01.2022

AUTHOR: Lasha Martashvili

Description: This progress report is an item-by-item assessment of the current status to date of predefined tasks in reference to their expected final completion status. This document was prepared as an assessment of the relative progress of an ongoing work plan for the Pylon Eco Token (PETN) project.

Has the project scope changed?

The Pylon Eco Token (PETN) project has reached new milestones. The management council of PETN and its executive team detected that interest in the project during the previous several months has been raised.

 

The CEO of the project and the rest of the team are committed to increasing efforts that will allow us to list PETN on Binance Crypto Exchange that will ring more liquidity and volumes into the coin.

 

At the same time, the Pylon Eco Token team will strive to launch ecosystem projects according to the plan.

Will the project hit the quarterly target?

The PETN executive team managed to list the Pylon Eco Token on the following popular decentralized Exchanges, like Apeswap and PancakeSwap. As the result, independent crypto market observers witnessed the increase in trading liquidity of the token.

 

Since the beginning of the project and especially PETN listing on XT.COM, PancakeSwap, and AppSwap Exchanges, the number of transactions increased and reached 32186, and the number of unique users significantly increased and currently, this figure is 8359 that could be considered as serious progress on the way of project development.

The PETN team managed to add PETN/BUSD pair that is traded on the above-mentioned decentralized Exchanges. This led to noticeable qualitative improvements of the Pylon Eco Token.

 

Since listing the PETN on DEX platforms more than 10 000 transactions were recorded that highly elevated the liquidity of the token.

It is also important to note that since its listing on XT.COM Exchange the PETN has never fallen below its starting point, moreover it was always trading much higher than the initial point is $ 0,48.

From the very inception phase of the project till today the PETN demonstrated a more than 2x increase in value and that fact proves that the crypto investors community have trust towards the Pylon Eco Token project.

 

The PETN project has made solemn progress in terms of social media outreach.

 

Telegram: project has more than 7772 subscribers;

Facebook: 30,193 followers;

Twitter: 16100 followers.

It once again demonstrates the rising interest in the PETN project.

 

The PETN executive team did its best to list PETN on the most popular crypto wallet. As the result, the PETN is currently listed on the following crypto wallets: TrustWallet, MathWallet, Coin98, Safepa, MetaMask. It should be mentioned that listing the PETN on different crypto wallets is a perpetual process and they will put more effort to list the Pylon Eco Token on other crypto wallets as well.

 

The management council of the PETN project initiated a token pre-sale that has been successfully completed.

 

Due to the carried-out activities, the project team detected the increased interest in the Pylon Eco Token project that was revealed through CoinMarketCap and CoinGecko rating websites.

 

Moreover, crypto.com, CoinBase, Binance closely monitor the project through their inclusion of PETN information on their website.

These facts once again show that big players in the crypto industry, like Binance and CoinBase, wait to see if the PETN team will come up with their ecosystem and keep on continuing building other announced ecosystem projects and keep on adding new upcoming projects as well.

 

When the PETN executive team will manage to list the Pylon Eco Token on Binance Exchange and other top Exchanges as the result of strong community support and real-life use case ecosystem it may easily make up to 10x.

 

It should be also highlighted that many Nepali nationals are involved in the project. For many of them, the PETN is the highest priority.

 

During the previous quarter, the Pylon Eco Token (PETN) project formed a partnership with many crypto players: Decentralized Exchanges, Crypto wallets, etc. Among them are such big players as PancakeSwap, ApeSwap, DEX Agreggators: 1Inch, ParaSwap, OpenOcean, crypto rating websites, like Crypto.com, Nomics, DigigalCoinPrice, CoinCost, CoinRate. We also made a partnership with Bogged Finance and PooCoin.

 

The PETN Executive team also managed to establish partnerships with different crypto wallets and among them are Ellipal, TrustWallet, MetaMask, Safepal, TokenPocket, MathWallet, Coin98.

Does the project have any roadblocks?

The PETN executive team had to adjourn the launching of the ecosystem project in order to increase the economic feasibility of the project.

 

It is anticipated that this process will be commenced in the first quarter of 2022.

List of tasks completed/milestones hit in October

  • Deploying Pylon Eco Token (PETN) Smart Contract in Binance Smart Chain.

 

  • Implement DeFi function and Allocate Open Source & Staking Funds.

 

  • Implement the Deflationary function and Burn tokens in each transaction.

List of tasks completed/milestones hit in November

  • Add Token to TrustWallet and other wallet providers.

 

  • List and Swap in the First Decentralized Exchange (DEX) PancakeSwap.

 

  • Add Liquidity (PETN/BUSD) in PancakeSwap.

 

  • List and Swap in the First Decentralized Exchange (DEX) PancakeSwap.

List of tasks completed/milestones hit in December

  • Disable Deflationary and DeFi for PETN/BUSD in PancakeSwap.

 

  • List and Swap in the Second Decentralized Exchange (DEX) ApeSwap.

 

  • Disable Deflationary and DeFi for PETN/BUSD in ApeSwap.

 

  • Bring new users & Token Holders to the Ecosystem.

 

  • Pre-Sale launch to sell 2 Million tokens.

Tasks/goals planned for next month/quarter

  • Implement the Vesting function for all Locking Condition Tokens.

 

  • Implement Governance function and create a voting system.

 

  • Ecosystem launch for Mobile Topup & Gift Cards.

Lessons learned this month/quarter

  • We need to intensify project team efforts in order to launch an ecosystem project.

 

  • The number of project investors should be increased.

 

  • The project team must increase their exertions to convince representatives of Binance crypto Exchange to list PETN.

Roadblocks/challenges that the project anticipates

  • Currently the PETN project has 2 challenges:

 

    1. Convincing Binance crypto Exchange to list Pylon Eco Token (PETN).
    2. Launching ecosystem project.