Pillar Introduces Pillar Balboa: A Community-Owned Wallet Ecosystem – Product Release & Updates

Pillar Introduces Pillar Balboa_ A Community-Owned Wallet Ecosystem

The Pillar Token (PLR) is in a season of essential upgrades and has introduced its latest infrastructure: Pillar Balboa.

Pillar Balboa is a wallet ecosystem owned by the Pillar Token community. It was introduced in a bid to enact systems that are aimed at governing the community.

The Pillar Token had also recently launched its new Smart Wallet and Payment Network. This network provides key-based wallet solutions by offering benefits that are user-friendly and secure. Through the improved user-friendly and recovery settings, decentralized application transactions will be achieved.

Another recent upgrade by Pillar is the Pillar Payment Network. This infrastructure enables fast and gas-free payments amongst users of the platforms by offering dedicated layer 2 solutions.

In addition to all these upgrades, Pillar is working towards a governance framework that will foster the empowerment of its users. This would also empower PLR token holders with the easy collection, management, and allocation of resources. These operations are available across the Pillar ecosystem.

About Pillar Balboa

The PLR token is the core of the Pillar ecosystem. In the nearest future, Pillar will become a governance program that is operated by the community. This program will improve the marketing, development, and promotion of products.

Through this new communal governance platform, PLR holders will manage all the fees earned by the Pillar Wallet. These fees will be distributed by them, in order to reward their participation.

Currently, the team is processing the fee model so that it can be aligned with this transition. In achieving this, the value capture potential of the PLR token will be increased on a long-term basis. The end-goal is that this fee model will be controlled by the community. For this reason, a strong foundation will be laid to ensure that the future value can be managed and modified in accordance with the dictates of the PLR token holders.

More to come

In addition to the aforementioned activities, the coming weeks will welcome certain changes in the distribution of future tokens. As would be announced by the Pillar team, these changes will affect the supply issuance and would be in favor of the existing token holders.

To learn more about these changes, you can join Pillar on their newly launched Discord. A dedicated #PLR Category has been set up to a variety of operations that aid communal governance. These operations include contributions to token distributions, feedback on tokenomics, governance poll proposals, and more.

Recently, Synthetix welcomed three new updates on its platform. The on-chain crypto-backed platform also disclosed its newest updates were Altair, Acrux, and Aldebaran.

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