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Eidoo: 11 news, a new token and pNetwork
Eidoo: 11 news, a new token and pNetwork
Crypto

Eidoo: 11 news, a new token and pNetwork

By Marco Cavicchioli - 1 Apr 2020

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The founder of Eidoo, Natale Ferrara, has published 11 news on his Twitter profile. 

The first one concerns the latest pNetwork, which sees Eidoo join pTokens to work on the modularity of DeFi cross-chain tools, within the new token economy of EDO. 

Eidoo and pTokens are very active projects in decentralized finance, both members of the Poseidon Group, but with different goals. 

Eidoo aims to make all DeFi tools easily accessible, while pTokens seeks to make it possible to operate between different blockchains, such as Bitcoin and Ethereum. The two projects are complementary and compatible, and new interesting initiatives could emerge from the new pNetwork. 

The second news is that Eidoo has finally fully completed its roadmap as written in the whitepaper three years ago. 

Ferrara points out that it is quite rare for this to happen and is proud to have done so. Nevertheless, further developments are still in progress, so this is not only a point of arrival but also a new starting point for other initiatives. 

The third news concerns the recent launch of the Eidoo Card and the various services already offered by the Eidoo wallet. 

The fourth one refers to the fact that the Eidoo community now counts several tens of thousands of active users every month, in particular on Telegram and Reddit. 

Ferrara also mentions the constant burning activity of EDO tokens, which can be monitored thanks to the special edo.watch tool, showing already almost 12 million tokens burned out of about 100, with burning occurring almost daily. 

Eidoo changes its token economy

In this regard, a revision of EDO’s token economy has been announced, which will expand its uses, partly thanks to Eidoo’s collaboration with Provable, the company that developed the pTokens

In fact, pTokens will be integrated into Eidoo, allowing the possibility to make transactions between different blockchains. 

In particular, he announces that a new governance token will be created, called PNT, which will have a role within a new decentralized network called pNetwork, which will be a governance network for pTokens. 

This new network will be powered by a network of validators open to all, which will allow anyone to stake PNT tokens. 

pNetwork will be a DAO with a governance framework based on these tokens, which for the first 2 years will be subject to inflation in order to reward the first stakers and voters of the DAO.

In the meantime, EDO tokens owned by the company will decrease significantly thanks to a massive burning campaign that will allow a distribution of the new tokens. 

The latest news is that the pNetwork, featuring EDO’s new token economy, should be launched within a few weeks

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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