Pillar has introduced its in-wallet cryptocurrency and token exchange functionality powered by the Pillar Offers Engine. It pulls in offers from numerous decentralized exchanges and token swap protocols providing users with the best offer available based on their criteria. No more need to seek out the best deal, the Pillar Offers Engine does all the work for you.
"The internet of smart contracts is an internet of offers." — from the Pillar Grey Paper
The original idea for the Pillar Offers Engine stems from the book Pull, from our founder, David Siegel.
Specifically, David states:
"[Pillar] is a world of pull, where you say what you’re looking for, and the offers and information come to you. You can have long-standing requests that match when the appropriate find is made, or short-term requests that immediately result in a number of offers to choose from. We will focus on bringing in content and offers."
Pillar’s vision for its platform is a user-centric one: instead of downloading or browsing multiple DApps, Pillar aggregates and displays all available offers related to that particular service without the user ever having to leave the app.
These are the key concepts of the Offers Engine: discoverability and aggregation. It’s a way for users to easily discover services that match their needs with a minimal amount of effort. One could even argue that an app for every service fuels artificial needs while a user-centric model respects the individual without burdening them with unnecessary noise.
Pull was published during the era where the semantic web was the big buzzword and a nascent wave of eCommerce websites answered the call; Amazon aggregates a significant amount of the world’s commerce. eBay does the same for P2P sales. Pillar will do the same for Web3 offerings.
"Looking for a new bike? Just specify what you want, using our product taxonomy or chatbot, and all the bikes that fit that description come to you for sorting and viewing. The data will come from each source, rather than from aggregators. You don’t see web sites, you see offers."
Pillar has launched its Offers Engine with an initial focus on aggregating cryptocurrency and token offers, allowing for the easy and intuitive exchange of digital assets. Over the next few months, Pillar will expand the engine to aggregate offers from decentralized finance (DeFi) services such as borrowing and lending through Compound, prediction markets, CDPs using Maker, and more.
Over the next year, Pillar intends to open its Offers Engine API to allow the community and third-party companies to offer different services directly to users. Combined with its identity framework and the soon-to-be-released Pillar Payment Network, Pillar will not only be able to greatly expand its service offerings but do so in the most cost-efficient and scalable manner.
Aggregating and discovery, however, are only the beginning of the road ahead. Pillar will eventually introduce the third key concept of the Offers Engine: composability. Users will have the ability to compose different offers in order to best suit their financial needs. Pillar will provide the interface that pulls the DeFi building blocks together to enable this.
This can even be applied to non-DeFi services. Imagine all government services in one place, but built in a way that respects the privacy and avoids a Big Brother-esque central database? That’s the vision for the Citizen Wallet, to be expanded on in another article. Additionally, as the original vision from Pull suggested, Pillar could easily expand to include eCommerce. The current models can be improved by including chat and voice interfaces, AI assistants, machine learning and more!
A special thanks to our amazing Offers Engine team in Lithuania. And thanks to all the other amazing Pillar teams, developers and ambassadors that helped make this a reality.
And last, but not least, to David who published the original vision and put this team together.