Pinto is a digital dollar.
What’s the point?
Many cryptocurrencies are too volatile. Making them not a great currency to use on a day to day basis.
Pinto fixes this by staying around $1 always.
What’s the benefit?
Safer, simpler, less risky money.
Pinto’s price doesn’t change much, so there’s less risk compared to other large cryptocurrencies. Someone thinking about accepting a crypto like bitcoin as a form of payment might be nervous they would lose value after the sale because the price of bitcoin could drop significantly. In this case, Pinto’s ability to stay consistently valued around $1 would less risk for the seller.
How do I make money?
Two options:
Short Term:
Deposit money into the Silo.
Make money from loaning your money to Pinto.
Think about the Silo like a savings account. You deposit your Pinto tokens into it, helping the ecosystem stay around $1. You earn rewards whenever Pinto is doing well. You can withdraw your Pinto anytime you want and easily trade it for other currencies as well! How does Pinto “do well”? Learn more here!
Long Term:
Add money to the field.
Add money you can’t take out but gives you a much larger return.
You loan your Pinto tokens to the Pinto ecosystem, helping it stay around $1. In return, you get an IOU (called pods) that may pay you back a lot more later. The catch is: you can’t take your money back whenever you want, and how much you earn isn’t guaranteed—it all depends on how well Pinto does in the future. How do the IOUs help Pinto and me? Learn more here!
How does Pinto work?
Pinto is a self sustaining ecosystem that keeps the price around $1.
If Pinto is above $1 (ex: $1.15)
Pinto’s system will bring the price down by making more pinto.
When Pinto’s price climbs above $1, it means there’s high demand—lots of people want to buy it. To bring the price back down, Pinto automatically creates new Pinto tokens. These newly-created tokens are given out as rewards to people who’ve deposited their tokens in the Silo.
If Pinto is below $1 (ex: $0.95)
Pinto’s system will bring the price up by making more IOUs (pods).
When Pinto drops below $1, it means there’s too much Pinto available—people aren’t buying enough. To fix this, Pinto creates an incentive for people to lend their Pinto tokens to the ecosystem. These lenders get tokens called Pods as IOUs, promising them rewards later.
When you receive Pods, you join what’s called the ‘Pod Line,’ which is like standing in a queue. You can’t redeem your Pods immediately. Instead, your Pods can be cashed out in the order they were created—first people to make IOUS, first to cash them out.
How do you cash out your Pods / IOUs?
When Pinto goes above $1, and the system makes more Pinto to bring the price down, the Pods at the front of the line become redeemable for Pinto tokens.