PyraBank Review: 92/100

dapps.buzz (56)in #cryptocurrency • 5 years ago (edited)

A few weeks ago, I found this project called PyraBank. I was instantly in love with it, because back then they had a GTA theme online, which I found funny in a certain way. So I joined the community like I usually did and asked a few questions. The start was a bit bumpy because I encountered an issue in the Telegram group there, which I wrote about a bit ago. But after the project leader there recognized that I'm there because I'm interested in the project, I received all the answers I needed for me to join, and finally, I love this whole project.

PyraBank is a decentralized application on the TRON network. It was created to provide holders of its tokens with a safe and consistent supply of dividends. The Pyra token is stable and holds its TRX value innately and immutably through the use of an open ledger, automated and decentralized smart contract. This means that the funds on the PyraBank exchange are protected by verified programming hosted on the TRON Virtual Machine and cannot be tampered with by anybody, even its creators. Can your bank say that?
https://www.pyrabank.com

Usability: Simple, Fast & Backup

As long as you don't want to know what happens on the smart contract itself, the whole site is self-explanatory. You instantly get into the game, everything is described, and everything works like described.

Take a look to this tutorial here, where you can see how easy the interface is:

I asked myself where to put this point here, is its uniqueness, or usability? It's both. But let's give them weight in this category: They built a backup system! PyraBank has a backup system if the leading site is down, or attacked, or for whatever reason not reachable. You can reach the backup site through the leading website, click on Information / Backup. You then land on this site:

http://165.22.42.224, which is a backup system for their main site.

I tried it out, and it works. But don't use the backup site just for fun, really consider it only when it's an emergency. The site doesn't go through SSL, so it's not secured. I hope they change this one day.

But for me, absolutely subjective, a 10 out of 10.

Rewards: Pyra, TRX & BTT

As you know, everything stated here reflects the point of view of the author, and nothing of them you should understand as financial or investment advice. I'm just sharing my opinion with you, telling you why this project is in my gambling and investment portfolio. It doesn't just do a great job with TRX; it does also with BTT - The Bit Torrent Token that is lying around on all my wallets doing nothing.

The smart contract will deduct a fee for every purchase and sale of Pyra, split it among token holders, and store user funds safely and independently of an intermediate authority. PyraBank will also be funded through the purchase of its tokens via an ecosystem of decentralized applications built to sustain the network and reward Pyra holders. Having a stable token means you can earn dividends from an entire crypto gaming ecosystem without worrying that your holdings will lose value from the actions of other users. No matter what other players do, every interaction with PyraBank and its games provides earnings in TRX directly to each and every Pyra holder. Nobody will ever be punished for holding.
https://www.pyrabank.com

I know there are a few other BTT projects around, where you can move on and freeze, or play. But it's just very comfortable to have them "on a bank" while generating dividends. It's a psychological thing that gives me safety, even if I know I'm into a high-risk system. My thoughts are that BTT can have a high value one day when Bittorrent moves on with what they plan. It can be revolutionary!

But we also know that in crypto, everything is possible, and we never know what the funny sunny boys out there are planning. So in both cases, if the value of the token goes down, I reinvested with Pyra and have more BTT that I can withdraw. If the price goes up, woohoo. In my case, I want to grow my crypto pool, and this system is at this state great for this purpose. Worst that can happen is you lose the investment fees if you're the very last person who joins this system: Also then, collect & exit works:

But even these changes, as soon they start with other projects that interact with the contract. Then it's not only about more people joining the smart contract but also about people playing their games.

The actual dividends with joining people? Sexy:

There is also a referral system. It's activated when you hold a certain amount of Pyra; it's different between the BTT and the TRX contract.

*screenshots: at the moment the history on some browsers doesn't show up.

Content: Delivered & More to come

Delivered. Until now, they provided what they promised, and we have Pyra Crash coming soon. What is it? What is it? I'm sure the guys will do great work.

Under Information / Tron-U, you find the Tron university. They have great tutorials, not only about joining PyraBank but also the very first steps into Tron and your wallet. The videos are excellent and easy explained.

Community: Small & Friendly

I asked a question a few days ago about how I think the whole smart contract works, with an off-chain token. But I click on mince on their site, when I mince tokens. One of the more significant TRC-20 Token / Smart-Contract features. It was such a dumb question from my side, asked twice, that I'm not sure why I didn't receive a response. But finally, I'm also okay with it if they never realized my dumbness there.

The community is small and friendly. The activity is relatively low. Which is to understand, as long the main task is just collecting divs: Boring ;-) But I think it will advance as soon Pyra Crash will hit us.

Uniqueness: Stable Token & Smart Divs

PyraBank's idea of how dividends have to be collected and distributed is how a bank generally should think, in my opinion. Stabilizing the Pyra token in this whole system is a smart choice.

The stable nature of Pyra allows players to properly gauge their earning strategy without needing to worry about factoring for pump and dump price fluctuations. PyraBank means you can make the most possible dividends with the lowest possible risk, from some of the most popular games in the crypto gaming space. It goes without saying that robots are a lot more honest than your average run-of-the-mill bank, especially when it comes to what happens to your money once you’ve deposited it.
https://www.pyrabank.com

I allocated the bonus points for the backup site already in the usability category. Let's see how far we come without this piece of the cake. Oh, did I mention Open Source? Well, 10 out of 10.

Dappstats

What are your thoughts, ladies and gentlemen? What do you think about Bittorrent's future? Is BTT something to look into it, or do you prefer to stick just to TRX? Let me know in the comment section below, and thank you for your kind attention.

From the Community, for the Community: DApps.Buzz

#tron-trx

5 years ago in #cryptocurrency by dapps.buzz (56)

$0.00

3 votes