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The Token for the Canary Network
$PION forms the Muon network’s backbone and has been designed to incentivize network participants in the most efficient way and maximize network value, with regards to tech development, marketing/community and network incentives.
There are three major utilities for $PION:
- Node Operations (Buy $PION to run a node and help secure the network)
- Network Fees ($PION as a Gas Token)
Muon is powered and secured by a network of nodes which sign and verify responses to the requested data. To protect the network against any potential fraudulent activity, these nodes are required to stake a certain amount of $PION as collateral. When the network becomes public, node operators will be eligible for network rewards in $PION as incentive for their services in keeping the network secure and decentralized.
$PION serves the same purpose as any gas token. Users of PION network pay a fee that is used to pay node operators in order to incentivize their continued verification of the data on the network.
Part of the future will be the Muon DAO. This governance structure will see a decentralized initiative towards decision making around the direction of Muon elements. $PION holders who wish to have greater say in the project will be able to contribute to the DAO.
To run a node on Pion network, one needs to stake NFTs made up of bonded PION (bonPION). These NFTs are not liquid and can only be used for running Pion nodes. Neither can they be traded until further notice.
Initially two groups are eligible for running nodes on Pion; that is, they are given node-drops (lockdrops).
- 2.MUON Pre-Salers: This group is given an amount of bonded PION in proportion to their pre-sale amount.
NB. Pre-salers will also earn $MUON when Muon network launches. Their node-drop is an extra bonus they get and will not affect their $MUON allocations.
Responding to requests, these two groups earn rewards in PION and can sell it on the market. Others wishing to join the network should buy PION and stake it as bonPION to be able to run nodes.