Introducing Proton Chain

The Blockchain that Interacts with Fiat

a year ago   •   3 min read

By ProtonUK

Proton Chain is a new public blockchain and smart contract platform created by Metallicus. The company behind Metal Pay and led by Marshall Hayner teamed up with Lynx (Fred Krueger) to create a new,  fast, secure and scalable blockchain of the future. They want to make the experience of buying, using and converting crypto seamless using a new clean and easy to use wallet. A wallet to store all your crypto and your fiat and interact with all your favorite apps.

The Proton Chain is much more than a public blockchain, it's a whole ecosystem that has been slowly building up over the past year.

Proton aim is to make crypto accessible to everyone through a clean and user-friendly wallet. Accessible through allowing users to get on-board easily by using their bank accounts or credits cards and not buying a stable coin in one place, sending it over and swapping. The wallet will allow users to do all things from one place: buy, sell, swap or stake as opposed to using different apps for different purposes. Proton is also one step ahead of providing users with an optional KYC and getting a checkmark next to their name so that their identity is verified and published on the blockchain. Proton is also very fast (4000+ tps) and there are no gas fees for sending crypto on the chain. There is a small fee when swapping coins that get lower with the more XPR you hold in your wallet.

There is much more to say but I'll leave the fine details to the deep dive that I will be posting shortly and highlight the benefits of Proton Chain here:

  • Smart contract platform and p2p payments
  • Based on EOSIO and delegated Proof of Stake (dPoS) model
  • 4000 transactions per second (tps) and 1 second block time
  • Zero fee transactions
  • Slick and user-friendly wallet. In-wallet short stake, long stake, vote and swap
  • Short-term staking for block producers and claim rewards daily with an APR of 14% as of June 2021. It takes 24 hrs to unstake.
  • Long stake for 90 or 365 days against the performance of bitcoin up to 50% APR minimal. Decommissioned 28th July 2021 due to causing hyperinflation at this time.
  • Proton Signing Request (PSR) functionality, allowing users to authenticate and accept payments using on-chain signing
  • Secure identity (KYC) and universal (@) name addresses on chain
  • Support of all major chains and wraps coins like BTC and ETH, allowing you to send them to your friends on Proton Chain with no fees
  • NFT Marketplace with low NFT mint (0.01 cent), first 10 mints are free
  • Native DeFi swap with only 0.3% liquidity fee (decreases with increased holdings)
  • Yield Farming - provide liquidity on cryptocurrency pairs, receive interest in XPR and earn passive income on your crypto
  • Proton Lend (LOAN), a new decentralized finance lending market built on the Proton blockchain. Initially scheduled for Q3 2021 but was postponed to Q4 with the intend to be released in November.
  • Fiat integration in Proton Wallet is on the way. Initially scheduled for Q3 2021 but was postponed to Q4 with the intend to be released in November.
  • Bridges TradFi & DeFi, allows for DeID, fiat payment commands to a legacy bank and card processors all on-chain.
  • Application for First Blockchain Bank and Trust license pending.

And even if after all that you are still asking yourself why would you want to get into this project now, well here are some more hints:

  • Relatively young blockchain, mainnet live since April 2020
  • Strong and big team with experience in crypto
  • Developers of two successful projects - Metal Pay and Lynx Wallet
  • Metallicus CEO is Marshall Hayner. Don't have enough space here, better google him!
  • About $400M MC, 12.2B supply (8.4B in circulation) and price still under $0.1
  • Only 80k holders (as of  November 2021)

Now, last month Fred and two of the lead developers, Jacob and Kory left the company but that shouldn't discourage you. Fred is heading another company, SoftAtom, which is an investment fund for developers building on the Proton Chain to help with its rapid expansion. I'll just say that Fred is now building another cool project, Bitcoin Libre that will be a Spanish version of Proton Wallet and will be running on Proton Chain! So rest assured, the team is working hard. I have no doubts about the future of Proton!

Please Do Your Own Research (DYOR) before making any financial decisions and most important don't spend more than you can afford. Unlike stocks and bonds, crypto is very volatile анд it may take time to make a profit or even break even after a crash.

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