The digital asset or token usually serves as the medium for storage of value and transference of value with the platform of any blockchain or cryptocurrency project. Often, the token of a network grants its subscribers the right and authority to interact, participate, and contribute in various activities organized on the platform. The entirety of Prophecy’s project activities is handled with its native digital asset, called the PRY token, and it gives members who own the asset rights to engage in the network’s campaigns. The PRY token operates as a channel that is effective in storing the generated value when subscribers use the network. Within the prophecy’s project, the value generated refers to the creation of a meta-property through the forces of demand and supply.
PRY Token
The digital asset of the Prophecy project is called the Prophet Token and is denoted by PRY. It is built with a dual-tier structure and adopts a deflationary supply model. The total volume of PRY tokens estimated to be in supply by the management team is 200,000,000 and the network will utilize a contracting model of supply policy and a deterministic strategy in finding the targets for the supply of the tokens among the community and entire crypto market. Prophecy’s Project token is supported on the Ethereum blockchain network and will serve as an ERC-20 compatible token, which will be compatible with all ERC-20 digital wallets.
PRY token belongs to the functional class of governance and utility. Due to the sensitivity of this class and the interaction with members of the network and the entire public, the token requires an advanced security level and it adopted the Keccak-256 protection feature. With a settlement period of 30 seconds, the Prophecy Project platform, using PRY tokens, can perform about 15 transactions per second. The major distribution channel of the digital asset borders around rewards for activities and incentives.
Distribution of PRY Token
The management team of the network allocates the entire supply of its tokens for four primary purposes, which include team, private sale (Presale), liquidity and rewards, and audit, marketing, and partnerships.
Liquidity and Rewards:
This allocation takes the highest percent of the total volume of PRY tokens in supply, about 50%, which is estimated at around 100,000,000 tokens. This huge amount of tokens are for the purpose of market-making, which helps maintain the sustainability of the project and keeps the confidence of members. It also covers the incentives received by members for their participation and contribution to the staking program.
Private Sale:
Also referred to as Presale, this is the distribution of an allocated amount of tokens in supply to early investors and participants of a blockchain project. This helps attract reliable and interested investors to join the project. A quarter of the Prophet's token is allocated for this purpose.
Team:
As a means to appreciate the diligence and expertise of the founding members, team members, and development team of the project, about 10% of the whole volume will serve as a reward, and the disbursement will last for an entire year.
Audits, Marketing, and Partnerships:
This involves the operational responsibilities of the project that determines its penetration in the crypto market and displays its level of openness and transparency. The allocation is about 15% of the total supply.
USEFUL INFORMATION
Website: https://prophecyproject.io/
Telegram: https://t.me/prophecyproject
Whitepaper: https://prophecyproject.io/files/prophecy-pry-wp-v0.1.pdf
Bitcointalk: https://bitcointalk.org/index.php?topic=5295023.0
Twitter: https://twitter.com/Buy_Prophecy
Github: https://github.com/prophetproject1/prophet-token
Medium: https://prophet-token.medium.com/
AUTHOR'S DETAILS
Bitcointalk Username: Esty2281
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2737693
Eth Address: 0xA181d93387DF684AD94D79f40E77E16f1BfE1a39