$PION

The Token for the Canary Network

Utility of $PION

$PION forms the Muon ecosystem’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)

• Governance

Node Operations

Pion is powered and secured by a network of 1,500+ 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; in return, they are eligible for network rewards in $PION as incentive for keeping the network secure and decentralized.

Network Fees

$PION serves the same purpose as any gas token. Users of PION network pay a fee used to pay node operators in order to incentivize their continued verification of the data on the network.

Governance

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.

PION's Unique Features

$PION is the token for Pion network - Muon's canary network and its first Mainnet. PION's generation is primarily through rewards given to node-operators. The market for PION is formed this way:

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. However, they can be traded in NFT markets.

Initially two groups were eligible for running nodes on Pion and given node-drops (lockdrops).

1. ALICE Node Operators: Those meeting certain conditions were given the minimum amount of bonded PION (500 dollars worth of bonPION) to run a Tier1 node on Pion.

2. MUON Pre-Salers: This group was given an amount of bonded PION in proportion to their pre-sale amount.

NB. Pre-salers will also earn $MUON when Muon network launches. The node-drop was an extra bonus and will not affect their $MUON allocations.

Responding to requests, these two groups have been earning rewards in PION since October 2023. Others wishing to join the network should buy PION and stake it as bonPION.