Buy/Sell
How does this work?
The rules of this coin are simple yet also brilliant. Quick summary:
Buy Tokens. Buy PYRA tokens, and 10% of your transaction is used to pay earnings to other users.
Accumulate Earnings. Accumulate BNB earnings as other users buy, sell, or transfer PYRA.
Reinvest or Withdraw. Reinvest or withdraw your BNB earnings as they accumulate.
Sell Tokens or Don't! Sell your tokens at any time to receive BNB back from the exchange.
Share your Masternode. If you buy enough tokens for a masternode, share your masternode link to get bonus earnings!
Have Fun! Have fun watching as your earnings and coin value fluctuate over time!
Longer, more detailed summary to outline the mechanics:
As soon as you exchange the PYRA tokens for your BNB, there is a 10% exchange tax incurred. This means if you exchange 10 BNB into PYRA the exchange will provide you 9BNB worth of tokens due to that tax.
Unlike a normal exchange, that 10% exchange tax is then completely distributed to all other token holders that have used this exchange. The distribution of earnings is divided fairly based on the number of PYRA tokens each user holds. The site owners directly keep none of that tax, this all goes to other users.
Now that you hold PYRA tokens, every single time a new person uses the exchange to receive PYRA tokens, you also get paid your share of the 10% exchange tax on their transaction. The amount you receive is based directly on the number of PYRA tokens you hold. Keep in mind though that all earnings are paid directly in BNB. In this way, you collect new earnings in real-time on every buy.
Even better, you also collect earnings from other types of transactions such as other users selling or users transferring tokens. Yes, this means you are getting paid earnings directly in BNB every time a user buys, sells, or transfers tokens!
As your personal earnings accumulate, you can check the site anytime to see how many earnings you've earned and then choose to either "withdraw" or "reinvest" your earnings. If you withdraw, you get the BNB earnings sent directly to your metamask wallet. If you reinvest, the BNB earnings are used to purchase yourself additional PYRA tokens.
Every time a new user purchases a token, the value of each token increases very slightly (+10 gwei). This means that as people buy into the exchange, your PYRA tokens are worth more and more BNB. However, as people sell their tokens, the value of each token you hold goes down (-10 gwei).
Continue accumulating PYRA tokens by reinvesting (and/or withdrawing "free" BNB from your earnings).
If you bought enough tokens for a masternode, share your masternode link to get bonus earnings. For every buy directly purchased from your masternode, you get an extra 3% of the buy-in price. For example, if a friend buys 10BNB from your masternode, you make 0.3BNB in earnings right away!
You can sell tokens at any time directly back to the exchange, and the exchange will provide you back BNB based on the current sell exchange price.
Have fun watching as your earnings and coin value fluctuate over time!
That's all you really need to know!
Is this a scam or a fraud?
An understandable question given there are a lot of scams in Cryptocurrency. You are probably familiar with scam-like operations like Davor and Bitconnect. The important thing to remember is that:
Scamcoins generally have big pre-mines where developers take a huge amount of coin for themselves. PYRA has no pre-mine.
Scamcoins generally involve shady anonymous site owners holding your money while you "earn". These owners could take your money and exit scam you at anytime. PYRA has no one controlling your money, the exchange is entirely operated by an BNB open-source smart contract which cannot be changed! Owners cannot take BNB you put into the contract, even if they wanted to.
Scamcoins usually make false promises about guaranteed returns or other claims of ROI which cannot be sustained. PYRA makes literally no promises and is completely open and transparent about the mechanics of the system.
In short, this is not a scam. This is a unique exchange powered by smart contract which taxes all transactions (buy, sell, transfer) in order to pay out earnings to all token holders! The developers keep no extra fee beyond the tokens they hold.
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