What is the Pontem Network project? Basic information about Pontem Network

• Overview of the Pontem Network project 
• What is the Pontem Network project?
• What are the highlights of the Pontem Network project?
• Products of Pontem Network
• Roadmap of the Pontem Network project
• Pontem Network developers, investors and partners
• Overview of the Pontem Network (PONT) token
• What is Pontem Network Token (PONT)?
• Where can I buy Pontem Network (PONT) tokens?
• The future of the Pontem Network project and whether to invest in Pontem Network Token or not?
• summary

Overview of the Pontem Network project 

What is the Pontem Network project?

Pontem is an experimental platform that bridges between permissionless blockchains (like Polkadot) and permissioned blockchains (like Facebook's Diem).  

Pontem is building a decentralized application (DApp) framework on top of Polkadot to connect public blockchains like Polkadot with the permissioned blockchain Diem powered by Facebook. 

This allows many applications to take advantage of established public ecosystems such as Ethereum for Diem, supporting additional protocols in the future, connecting the cryptocurrency market to 3.1 billion people. used by Facebook. 

Pontem is a test network for Facebook's Diem blockchain, which aims to leverage Diem's ​​technology and the Move programming language to accelerate product development. It is also the first project to bring Move VM (Move Virtual Machine) and Move Language to Polkadot. 

What are the highlights of the Pontem Network project?

Pontem will bridge liquidity, data between closed blockchains and public blockchains, enabling interoperability on Web 3.0.

Facebook users will also have access to decentralized blockchain ecosystem functions without permission such as: Decentralized Financial Instruments (DeFi), Non-fungible Tokens (NFT) , payments Blockchain gaming and computing through Pontem Network.

Pontem is designed to give developers space to test applications before they are migrated to Diem's ​​blockchain. The toolkit provided by Pontem to solve the difficulties in DApp development on Diem, includes:

• Developers can test and check the compatibility of applications before launching on the Diem blockchain.
• Businesses must validate ideas and technologies before entering the Diem Association's approval process.
• Validate framework compliance before submitting project to Diem Association
• Allows data exchange with the Diem blockchain.

Potem Network differs from other platforms in that:

• Pontem aims to connect the Move VM, the Move programming language, and the user community in the Diem blockchain with the public blockchain ecosystem through Polkadot. These are secure, business-ready technologies to use to implement the smart contract and payment functions of the blockchain.
• While other layer-1 blockchain projects use programming languages ​​such as Solidity, Web Assembly, Pontem is the first project to bring Facebook's Move technology into the permissioned blockchain system. It allows projects to build, test, and deploy applications on Facebook's Diem blockchain. 
• Pontem is the first and only project to date that has successfully ported Move into Cosmos, Polkadot. The project has won prestigious funding from the Web3 Foundation and participates in the Substrate Builders program. 

Products of Pontem Network

Tools and functions

Like other blockchains, Pontem also has basic tools and functions that users are already familiar with. However, these tools will be enhanced to better suit the needs of the Pontem blockchain.

No-code Toolkit

With the advent of decentralized exchanges and many DeFi applications such as: 1inch Exchange or Furucombo. They combine complex multi-step transactions into a single transaction, users are increasingly accustomed to simple interfaces to execute complex transactions. 

Therefore, Pontem's No-Code toolkit is also designed to simplify the user process, allowing those without coding skills to:

• Create smart contract
• Add liquidity to swap platforms
• Deployment of staking contracts
• Create a new DeFi farming strategy
• Carry out lending/borrowing activities 

Pontem is like a one-stop shop for No-code transactions. Any programmer can design Move modules to create No-code templates for others to use. They can then choose how much to charge for these No-code samples.

Technology: Parachain

Pontem Network is a Polkadot-based chain, built in the Polkadot Substrate framework , so it can connect to Polkadot/Kusama's Relay chain via Parachain. 

Parachain is basically a blockchain capable of connecting to the Polkadot/Kusama Relay chain. The platform allows parallel transaction processing and theoretically infinite scalability on Polkadot. 

The main components of the Pontem Substrate architecture

The Pontem Network architecture consists of the following components that combine into a unique set of tools used to create, crowdsale and manage blockchain applications such as gaming, DeFi, NFT:

• Move VM runtime and pallet
• Compiler and Toolset
• Parachain
• Collator
• Economic Model
• Governance

Staking

The Pontem platform is running as a parachain on a Proof-of-Stake staking mechanism . The staking mechanism that Pontem Network is using was initially implemented by the Moonbeam Foundation team.

Pontem uses a block production mechanism based on Polkadot's Proof-of-Stake model. The collator maintains the parachain by collecting transactions from users and generating proof of state transitions for the Relay chain.

Move VM

Pontem uses the Move VM as the operating system to implement smart contract functionality. This allows users to develop, publish, and execute smart contracts using Move Language compatible with Facebook's Diem Blockchain. 

Move Language and Move VM are both developed by Diem Association, so they are both very secure, extensible, flexible and highly secure. 

Roadmap of the Pontem Network project

Detailed roadmap of the project.

Q4 2021  (Diem ready for launch) 

Phase 1: Incentivized Testnet – Diem's ​​Canary

Q1 2022 : Only for Diem Pilot members 

Phase 2: Decentralized Mainnet – Decentralized Mainnet with VASP (Virtual Asset Service Provider) certificate

Q2 2022 : Diem begins to expand cooperation with 3rd parties

Phase 3: Diem Interoperability – Launch of Diem Blockchain-compatible services licensed for VASPs.

Pontem Network developers, investors and partners

Development team

The project is supported by the Wings Foundation, a non-profit organization based in Switzerland founded in 2016. 

The Pontem Network project's development team are well-known names in the blockchain technology industry. Prior to that, the Pontem team developed the DPoS DApp Crypti in 2014, founded the Wings DAO platform in 2016. Most recently the Dfinance project, a decentralized infrastructure dedicated to financial products , DeFi is designed for non-technical users.

Investors

The project has raised US$4.5 million, led by Mechanism Capital and Kenetic Capital. In addition, the project also attracted the participation of other organizations such as: Alameda Ventures, Delphi Ventures, Animoca Brands, NGC Ventures, Morningstar Ventures, Genesis Block Ventures, Spartan Capital, Altonomy, Avalanche, CMS Holdings, Momentum 6 , Taureon, AU21 Capital, GIBC…

Partner

Currently Pontem Network is cooperating with DIA (Decentralized Information Asset). This combination will allow users to access DIA's oracle data including price data for popular assets such as BTC, ETH, etc. In addition, the oracles will also provide data from other parachains that DIA is integrated with. suitable, such as Moonbeam and Acala.

Overview of the Pontem Network (PONT) token

What is Pontem Network Token (PONT) ?

PONT is the native token of the Pontem Network ecosystem. PONTs are used to: 

• Pay gas fees for Move VM and validate transactions 
• Rewards for participants in the crowdfunding auction on Polkadot/Kusama
• Staking (collators/nominator) and governance (rewards voters and collators/nominators for participating in governance). 

Pontem Network token details. 

• Ticker: PONT
• Blockchain Network: Polkadot
• Total Supply: TraderH4 will update when there is official information from the project
• Initial Token Circulation: TraderH4 will update when there is official information from the project

Token Allocation 

• Seed round investors: 7%
• Private round investors: 17%
• Public Sale: 1.5%
• Network incentives: 19%
• 9% liquidity mining bonus
• Market Maker (MM): 3%
• Pontem Research Team: 24%
• Development team: 14%
• Consulting team: 5.5%

Token distribution schedule: Currently the project is still in the process of updating, so the token distribution schedule has not been announced.

Where can I buy Pontem Network (PONT) tokens?

Currently, the PONT token has not been released to the community. 

The future of the Pontem Network project and whether to invest in Pontem Network Token or not?

Pontem's aim is to provide a Diem-compatible environment for developers to test their applications before they can be deployed on the Diem blockchain. In particular, Pontem is the first project to bring Move VM and Move Language to Polkadot. The construction of Pontem Network within the Polkadot Substrate framework, also ensures the interoperability of projects with the entire Polkadot ecosystem. 

Therefore, the development team believes that: Projects can align their applications with Diem architecture and technology platforms even before they are officially launched. 

Pontem Network has successfully attracted grants from the Web3 Foundation and many other prestigious organizations, which shows that the project is highly appreciated by large investors. The project's development team is also experienced in the cryptocurrency market.

Investors should refer to a number of official information channels below of the project to be able to make their own assessment:

Website | Twitter | Medium | Github | Telegram | White Paper |

summary

Pontem Network is closely linked to Facebook's Diem, which is a test network of the Diem blockchain. In addition, the development team includes famous names in the field of blockchain technology. Therefore, it is not uncommon for the project to receive a lot of attention from the global investment community. Hopefully the article will give investors the necessary information to make their personal assessment of the project.

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