Pillar, Polygon & ParaSwap Multi-Token Airdrop

Pillar, Polygon & ParaSwap Multi-Token Airdrop

Written by

Jack Bass

December 10, 2021

The holidays are coming, and we’ve prepared some gifts for our community! As well as more updates from the Pillar Team!

In this article you’ll find these topics:

$36k Multi-Token airdrop $PLR, $MATIC, $PSP (Dec 10 – Jan 7)

New Earning Features — Pillar V2 Smart Wallet

DAO Proposal Ideas

Need To Know – Smart Wallets

$36k Multi-Token airdrop $PLR, $MATIC, $PSP (Dec 10 – Jan 7)

The Pillar, Polygon & ParaSwap teams are gearing up to perform an exciting airdrop starting the 10th of December, 2021 through the 7th of January, 2022.

This airdrop was a proposal passed through the Pillar DAO, the community-led Decentralised Autonomous Organisation.

This drop, highlights an array of cutting-edge sidechain ecosystems that work incredibly well together to massively reduce the high Ethereum network gas fees. So whether you’re a seasoned veteran, NFT enthusiast, or crypto newbie, there’s something for everyone.

Learn how to use sidechain ecosystems, complete tasks, and earn rewards! All qualifying participants will share the prize pool of $36k worth of tokens! 

  • $20,000 of $PLR
  • $6,000 of $MATIC
  • $10,000 of $PSP

Pillar will use the Polygon network for token distribution to Pillar wallet addresses (with super low transaction fees using the Polygon blockchain). 

Additionally, we’ll guide participants on how to perform seriously cheap swaps on the in-wallet integration of ParaSwap, the DEX aggregator.

New Earning Features — Pillar V2 Smart Wallet

With the launch of the Pillar V2 smart wallet, users have incredible features at their fingertips:

  • An innovative DEX (decentralised exchange) aggregator feature allowing users to receive quotes from multiple DEXes when swapping coins
  • DeFi lending
  • Bridges for moving across different blockchains
  • Connections to the five biggest NFT platforms
  • NFT storage across multiple chains with only one address
  • DeFi investments + liquidity mining

Pillar offers a pioneering multichain aspect to the wallet, giving users the ability to transact across multiple blockchains (Polygon, xDai, and BSC, with AVAX just added) all under one address. Chain switching is automated.

The new unified multichain features are powered by Etherspot.io, Pillar’s new proprietary SDK allowing developers and projects to build multichain features into their own dApps.

Now that all this is in place within the wallet, the team and the community-run DAO have been smoothing out the edges and discovering what it really means to be community run, together.

DAO Proposal Ideas

The Pillar Project team works closely with the Pillar DAO community members to initiate, vote on, and fund new proposals that will not only guide our future-facing wallet but also integrate rewarding and engaging features that the crypto community is calling for.

The first of the community-set proposals is the airdrop, which we’re excited to implement over this festive season. 

A staking programme generating passive income within the wallet is the next item to be explored.

Here are just some of the other ideas suggested by DAO governors:

  • NFT giveaways
  • Adding support for more EVM-compatible sidechains
  • Crypto-earning community games
  • Meme contests
  • Weekly lotteries
  • Loyalty rewards

Join the Pillar Discord server to have your say and stay up to date with all these portfolio-building activities.

Need To Know – Smart Wallets

Much like minting an NFT, deploying a smart contract on any chain has an associated fee.

Smart contract wallets offer users an incredibly secure, trustless, and decentralised means of storing and interacting with your funds. 

These funds are controlled by you alone, without having to remember or store your private keys or 12-word recovery phrase.

Deployment costs: 

  • On Polygon and xDai chains, the deployment fee is covered by Pillar.
  • On BSC and AVAX chains, this fee is usually between $0 – $3.
  • On the Ethereum network, however, the fees to deploy smart contracts or mint NFTs are super high due to the current Ethereum network congestion.

The good news is that you don’t need to deploy your Ethereum wallet to use the other supported chains (Polygon, xDai & BSC) within the wallet. 

Even if your Ethereum wallet isn’t deployed on Pillar V2 wallet, you can still receive tokens on Ethereum (but outgoing transactions and interactions through WalletConnect aren’t possible until Mainnet is deployed).

Deployment transactions are batched with the user’s first transaction, so there is only one transaction fee as opposed to two.

P.S. You can also create an ENS subdomain name for your wallet (yourname.pillar.eth) that can be used instead of your public wallet address (the string of letters and numbers starting with “0x”).

Anyone can then send funds to you using this easier-to-remember address.

So what are you waiting for? 

Download the Pillar wallet! 

Join the Discord server to become a part of the lively Pillar community and help shape the future of the wallet! 

Follow @pillarwallet on Twitter. 

Check out our airdrop video on YouTube — and don’t forget to like & subscribe!