/biz/ - Business & Finance

PYLON - 1M cap

They have one of the largest ETH mining rigs, see:
https://ethereum.miningpoolhub.com/index.php?page=statistics&action=pool

They use the profits to buy back PYLON, see:
https://etherscan.io/tx/0x647baf23081c5458051711bc8ed1d7a1277a163bb6cbfe533e6adedad84eec04

The idea is that the profits from mining apply constant buying pressure. The tokens are sent to the vault and sent to stakers as rewards. As buy pressure is constant and tokens are sent to the vault, supply decreases and price increases, attracting investors, which further increases the price and thus the staking rewards. Part of the profits are used to grow the mining rig, which will then generate more ETH to buy back more PYLON, etc. Don't know if it'll moon but it's really low cap and pretty cool idea

>>28044406
I know I shouldn't fomo but I've seen so many coins go 300%+ in 1 day I thought this was finally my chance to get in "early" (it was up around 40% when he made the call). With that said, call me delusional but I'm reading up on PYLON and it's surprisingly interesting, they have an actual mining farm you can verify and they are using the profits to buy back from the open market (pic related)

I verified that they were not bullshitting and to my surprise it's legit:
https://etherscan.io/tx/0x647baf23081c5458051711bc8ed1d7a1277a163bb6cbfe533e6adedad84eec04

We'll see if I'm an idiot (I probably am) but I'll take my chances, this unironically looks pretty good to me.