What does the Pillar token do? How it will work?
The Pillar token is a meta-token
It is designed to power all the services and transactions you use during your day. To make your life simple, you’ll just see your normal currency plus your pillar balance. All the tokens necessary will be one level down, paying for the goods and services you use.
Pay As You Go for Services with Pillars
While the wallet and platform are open-source and free, users will pay for the various Personal Data Locker services with pillars as they use them. The token will power (provide micropayments for) the entire ecosystem, giving an instant business model to many projects that can tie in. This is the beauty of the token: you may need a service exactly once and you won’t need to sign up for it, you’ll just pay for it with a Pillar token and you’re done.
You go see your doctor, she does some tests and gives you a prescription for some pills. All the data from that visit, and the prescription, will be copied to your wallet. You can then manage the prescription any way you like, including asking for bids from pharmacies for the lowest price, or fastest delivery, etc. In this case, pharmacies compete for your order, and their software can be aware what the bid/ask is, and they may give you special offers to choose their service or even pay you to watch an ad for a particular drug. This is all under your control – you decide how you want it, and you pay a small number of pillars each time you use the system for storing your records and letting you manage your relationship with the health-care system. Your data can even go to a study being done – with your permission – and even though you’re anonymous in the study, if they want to send you a message, you’ll have a choice of receiving it or not.
Brave has a native token for seeing customized ads and monetizing your browsing experience. Augur has a token for betting. Akasha has one for messaging. You’ll encounter dozens or hundreds of tokens as you go about your day. All these tokens will be native in our system one level below the Pillar token. Users may only ever see pillars, or they may see the various utility tokens for the services they use.
Pillar Token Sale Details
Token Sale Completed Succefully on July 17th, 2017
Mean, ETH per buyer
Median, ETH per buyer
(this is insanely low — almost all first-time token buyers!)
People spent more than 200 ETH
Maximum ETH purchase
Token name: Pillar
Token ticker symbol: PLR
Token type: Ethereum ERC20
Token sale start: July 15th, 2017 at 08:00 London UK time (GMT + 1)
Token sale duration: approximately 60 hours, measured in blocks
Token sale end: July 17th at 20:00 London UK time (GMT + 1)
Total tokens issued: 800 million
Total tokens available for sale: 528 million (66%)
Total tokens sold: 235,384,201
Total tokens unsold: 340,651,799 (on ice for 10 years)
Price per token: 0.0005 ether (same as the presale)
Tokens in circulation: 243,348,201 (up to the 17th April 2018)
48 million (6%) were sold in the presale
528 million (66%) were available in the mainsale
16 million (2%) were used to pay people who helped with the sale (locked for 9 months)
8 million (1%) were used to pay for marketing related to the ICO
80 million (10%) is with Twenty Thirty (locked for 3 years)
120 million (15%) is reserved for liquidity, later sale, given to entrepreneurs to build parts of our system, contests, or transfer to a consortium. (locked for 3 years)
Where are my Tokens?
Your tokens are on the blockchain, where they should be! Both presale tokens and main sale tokens are now merged – they are all main sale tokens. Forget about the presale address. To see them in your MyEtherWallet, watch our handy tutorial and do the following steps:
- Go to MyEtherWallet.com.
- Go to “View Wallet Info.”
- Log in using password, key, or keystore file.
- On the right, click “Add Custom Token.”
- Input the smart contract where they live, which is the same now as they will always be: 0xe3818504c1B32bF1557b16C238B2E01Fd3149C17. They will always be at this address, so keep that number stored along with your password and private key.
- Input the symbol PLR, Decimals: 18, and Click “Save.”
Page updated on 13th January, 2018.