PulseLN – PulseChain Project Overview

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Token:

Token ticker: PLN

Total token supply: the supply is still unknown and the sacrifice phase is still ongoing. Sacrifice ends with the PulseChain launch. PLN token is deflationary. PLN is the founders’ token airdropped to those who sacrificed. The founder distribution is not decided until the sacrifice phase ends.

About:

PulseLN brings to PulseChain lightning network functionality and simplest fiat on- and off-ramp. PulseLN uses BTC as an intermediate token between a bank and the PulseChain. This means that the adoption of PulseChain is easier and faster not only between fiat users but also between people who already own bitcoin. 

Users who sacrifice for the freedom to swap get the PLN token and their address may be included in the founders list of addresses. It’s possible that PLN gets airdropped to some additional PulseChain addresses. PLN accrues all swap fees from transactions passing through the PulseLN. These fees are used to buy up PLN from PLN/PLS on the PulseX exchange just to get them burned on a regular basis. This mechanism constantly reduces the total supply of PLN, increasing its scarcity. This deflationary aspect may cause buy pressure and potential increase in value from the underlying PLS backing.

PulseLN is a solution for those bitcoin users who want to have direct access to another layer 1 blockchain. PulseX trading pairs like BTC/PLS and BTC/PLN give bitcoin users the opportunity to use bitcoin to yield farming and to liquidity pools. 

The onramp to PulseChain is through lightning network enabled wallets and apps like Cash app, Strike, exchanges like Bitfinex, Kraken, or through gift cards like BitRefill, Bitcart and many others. These apps and services are already connected to the user’s bank account or to a credit card. The only thing the user needs to do is to buy BTC with fiat and send it to PulseLN where it gets converted to PLS or PLN. Everything takes on average 10 seconds. 

Lightning routing capacity is increasing everyday, and transfer fees cost a few pennies. The user still needs to cover service fees coming from Cash app, for example, or from other wallets and lightning services.

Lightning network is a p2p network of nodes providing some degree of privacy due to use of QR codes instead of addresses. If there is no wallet address, there’s no ability to see user details on a block explorer. Only nodes involved in transfer are aware that a transaction happened. It would require tracking of each of the independent nodes routing transactions to get the information about the sender and the recipient. In addition, PulseLN swaps use discreet ‘description’ messages for privacy and security reasons. 

PulseLN covers PLS, HEX, PLSX and BTC swap for now.

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Nothing in this article or website is financial or taxation advice. For advice on these matters, please contact a registered professional adviser.

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