PYR

PYR is Vulcan Forged's primary token, powering the entire Vulcan Forged dApp ecosystem. PYR is the big brother to Vulcan Forged's play-and-earn token LAVA. At present, the Polygon network is the hone of the PYR token. Soon, PYR will migrate to Vulcan Forged's blockchain for metaverses, Elysium.

Background & concept

PYR was crafted as the native ERC-20 token, ported to Matic (now Polygon) for the Vulcan Forged ecosystem. It was built as an interoperable settlement, staking and gaming utility token for the entire Vulcan Forged ecosystem. On January 20 2021 Vulcan Forged and Matic (Polygon) confirmed a cross-chain partnership to launch PYR, made possible through a partnership with Arkane (now Venly). PYR was designed to utilize Polygon's Layer 2 solution that fixes Ethereum’s scalability issue via an adapted version of Plasma with PoS-based side chains. In the build up to launch, PYR was described as being used for fee settlement, staking, defi game launchpads, play-to-earn benefits, gaming platform pools and discounted marketplace usage.

Launch

The PYR sale registration was conducted between February and March 2021, with tokens sent to wallets of whitelisted buyers on 29 March 2021. On registration, buyers were able to choose one of four methods for purchasing PYR; either through ETH, VET, MATIC or USDT. From 4pm GMT on March 29th, buyers were able to select which how much PYR they wanted to purchase from four displayed on screen, represented by gem stones.

Options were as follows:

• Common - 1570 PYR ($500)
• Epic - 6250 PYR ($2000)
• Mythic - 31,250 PYR ($10,000)
• Legendary - 93,750 PYR ($30,000)

Once an option was selected, prospective purchasers (subject to meeting KYC requirements and being selected for the PYR sale) were given a 6 hour window from 4pm GMT on 29 March to pay for their PYR tokens. Tokens were then sent out to users' wallets over a 7 day period from 29 March.

Polygon Network

Vulcan Forged launched the PYR token on the Matic (now Polygon) Network, allowing for fast transaction times and extremely low transaction fees. PYR tokens however exist on both the Ethereum Mainnet network as an ERC-20 token (PYR|ETH) and on the Polygon Mainnet network as a PYR-MATIC token (PYR|MATIC). This is possible because the Polygon Network is a layer 2 blockchain that sits inside the Ethereum blockchain. These two network systems allow a large user base to have access to PYR, regardless of whether they prefer to transact in centralized exchanges (CEX) such as KuCoin, Binance, or Bittrex, or they prefer the freedoms that decentralized exchanges (DEX) such as Quickswap and Uniswap offer.

Bridging

With the two network system, a bridge is necessary to move PYR from one network to another. This bridge is only required when you have PYR|ETH (ERC-20) tokens. The Vulcan Forged Marketplace resides in the Polygon Network, where it’s necessary to transact using PYR|MATIC. The Polygon bridge allows us to convert our tokens from an ERC-20 (PYR|ETH) token to a Polygon (PYR|MATIC) token and back. Tokens from the Polygon network cannot be freely transferred to the Ethereum network or vice versa - they must go through the bridge. The majority of exchanges hold PYR|ETH only.

Exchanges

PYR is available through a number of exchanges, both centralized (CEX) and decentralized (DEX). Notably, PYR can be purchased through Vulcan Forged's own decentralized exchange, VulcanDex (soon to become ElysiumSwap).

Centralized Exchanges

• Binance
• KuCoin
• Bittrex
• Gate.io
• Huobi Global

Decentralized Exchanges

• VulcanDex
• Uniswap
• Quickswap
• PancakeSwap

PYR|MATIC can be purchased direct through Binance, avoiding the need to bridge.

Managing Funds

PYR|MATIC is used in the Vulcan Forged Marketplace. To be able to use the marketplace, you will need to transfer some PYR from your PYR|MATIC main wallet to your market wallet. This can be done in My Forge on the My Funds tab. Here a user can quickly transfer PYR between your main and market wallets. If, for example, a user has sold an NFT in the Marketplace, PYR earned (less fee) will appear in the market wallet. Further information on wallets can be found in My Forge.