What You Need to Know about Palnet.io

in #palnet5 years ago

Peace, Abundance and Liberty

Wow, things are happening so quickly! Instead of switching to a new platform with a new coin, now we can continue using the STEEM blockchain and earn both unique platform tokens (like PAL) along with our normal STEEM and SBD.

This is creating a new economy, where various platforms (all using the steem blockchain) will offer a variety of different token payouts! This is going to make steemit.com become the "vanilla" version of the blockchain.

Now with palnet.io up and running and opportunities to earn PAL.

What is PALcoin Token?

A new token using the steem blockchain. This new token will have new features and opportunity for earners and investors.


Latin reads: "Do no harm, don't accept sh-t."

There's going to be a PALcoin Claimdrop.

A "clamdrop" is like an airdrop, but exclusive and based on current SP. The Palnet team has whitelisted 16000 steemit users who will be able to "claim" PAL coin based on their current SP. The good news is that it's capped at 160 PAL so whales will be severly limited in their claim.

The claim is calculated by the square root of your SP (up to 250) and multiplied by 10. That means if you have 100SP, your PAL claim will be (squareroot 100)*10 = 100 PAL

Users will have one month to claim their PALcoin.

Buy and Sell PALcoin Tokens on steem-engine.com.

PALcoin token is currently available on steem-engine.com


https://steem-engine.com

The intended sell price is 1 Steem each, but a few are selling slightly under this. After the claim drop, I expect a bunch of people exchanging for Steem, for interested buyers.

Ongoing Distribution to Active Members in the PALnet Discord Channel

For active users on the PALnet discord channel, there will be gifts, rewards, contests, etc etc. This is a great opportunity for users to pick up some PALcoin.


https://discordapp.com/invite/HYj4yvw

Ongoing Distribution to @minnowsupport Delegators

Paid post promotions will be distributed to delegators both in normal steem and sbd payouts, but also in PALcoins. The coins are then redeemable for upvotes or could be sold on the market for STEEM.

Proof-of-brain Rewards Based on PALcoin Stake.

Once you have PALcoin, steem-engine.com allows you to "stake" the coin, granting you the power and ability to grant PALcoin rewards to users on palnet.io.

Just like steemit.com, when you post on palnet.io your post will earn upvotes (which are rewarded also on the steem blockchain). Depending on the upvoter's PALcoin stake (like steem power), you will be rewarded in PALcoin after seven days. The payout will appear on steem-engine.com

That means your post will pay out TWICE, once with your normal steem and sbd payout and (if users have PALcoin staked) you will also receive PALcoin!

What else can I do with PALcoin?

PALcoin is redeemable for upvotes!

The coolest feature of PALcoin is the ability to trade the coin for upvotes from the @minnowsupport account! This adds great value to the coin, making it hold it's value.


http://www.minnowsupportproject.org

You can also spend PALcoin for certain customizations in the Palnet Discord channel and opportunities for advertising!

Conclusion

The new website palnet.io along with the PALnet Discord channel will bring a completely new dynamic to the steem blockchain. Great opportunities are here, especially as this is just beginning.

If you have been a part of P.A.L. (Peace Abundance and Liberty) and want to "get in" at the ground floor, this is your opportunity. If this is new to you, check out the minnow support page to learn more:

http://www.minnowsupportproject.org

@ironshield


Benjamin Turner: God fearer. Rooted in Messiah. Husband of @lturner. Father of four wonderful children. The guy behind the camera. Steemit enthusiast.

Bless the Most High!

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resteemed. great explanation. There is so much movement right now in the social media domain. If facebook coin comes out this summer (and it will enhance the user experience) this becomes both a threat and an opportunity to the crypto space.

The platform that serves the needs of people the best (doesnt mean that facebook isnt great in making people addicted lel) will win. If people value their freedom they will chose decentralisation.

Definitely! Thanks for the article and thanks for the resteem!

Cheers

Posted using Partiko Android

Howdy sir ironshield! great job on this review and letting us know about it, it sounds good. Do you know what the percentage is for creators and curators? Like if they are keeping it at 75/25 or changing it like the steemit hardfork to 50/50?

I have to do a bit more research to find out the details. It seems PAL is not divisable and no curation rewards.

Posted using Partiko Android

oh, that's different! thank you sir ironshield, I'm going to think about signing up for this one. Doesn't look like there's any downside.

Start by logging into steem-engine.com and see if you have a PAL claimdrop. it's a little blue icon at the top.

I was skeptical in the beginning but ready to embrace the movement!

Posted using Partiko Android

This looks really interesting, so I am in here. What's next? I am still trying to read through your post again to see how to get my claimdrop.

Claim drop will be through Steem engine, but it hasn't been released yet. I don't even know who's on their whitelist!

Posted using Partiko Android

I am already in PAL in discord, do I need this new server invite?

No, the discord channel is the same. http://palnet.io is new.

So I go straight to the. Planet.io yes?

Posted using Partiko Android

yes palnet.io

I am still having a bit of a struggle to convert from other cryptos to PAL. So it seems that I have to turn everything to Steem pegged before I can purchase PAL in steem-engine; yes?

This is a super exciting development. Has given me some new hope for the ecosystem here.

I agree. Very exciting!

Still trying to figure out the staking on palnet.io\

This is great news @ironshield I am very interested to see how this token can be used in terms of practical economy and how it can cross exchange in Steem in the future

Posted using Partiko Android

Sites like these are the future of the Steem Blockchain.

Posted using Partiko Android

Thanks for the info on palnet!

It's my pleasure!

Hi, @ironshield!

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