PurpleX Tokenomics

PurpleX Token or PRPL is the native digital token for the PurpleX decentralised exchange. The token provides a means for the exchange users to pay trading fees and get a discount on fees. It’s a highly secure Binance-based token and can also be traded for other BEP-20 tokens.

PurpleX tokenomics refers to the study of numbers around the PurpleX token. In this, we will talk about PurpleX tokens, the total supply of PurpleX, token price, distribution and more.

About PurpleX token

Token name: PurpleX

Token ticker: PRPL

PurpleX is a BEP-20 token based on the Binance blockchain. Binance is the second most popular blockchain network on the internet after Ethereum. It’s ultra secure, very fast and efficient, which is why Binance was the first choice for the creators of PurpleX.

Total supply: 1 billion or 1,000,000,000

The maximum supply of PurpleX tokens is limited to 1 billion, that is there can never be more than 1 billion PRPL. The limited supply of tokens will help keep the price stable in the long term. Once the total supply is in circulation, the value can only go up with demand.

PurpleX Token price: $1

The target market price of the PurpleX token is USD $1. However, there is no confirmation about the token price for presale, which is likely to be held in the coming months. It can be expected that the developers will be selling the token at a discounted price during the sale.

PurpleX Token distribution

The total supply of PurpleX tokens is 1 billion, of which tokens will be distributed in the following manner:

Founder & Team (Promoters) - 51%
Token sales - 30%
Marketing & Airdrop - 10%
Research & Development - 7%
Advisors - 2%

51% of total tokens, i.e. 510 million PRPL will be reserved for the founding team, including the founders, core developers and promoters of the PurpleX project. This will help compensate the team for their valuable time and efforts. Owners of these tokens can use them as they want, including trading them on public exchanges or keep holding them.

30% of all tokens, i.e. 300 million PRPL will be put on sale, which investors and the general public can buy to help the team raise sufficient funds to further develop and grow the project. Tokens after the sale will be put in circulation. Buyers can choose to hold their individual tokens to start trading on exchanges. The fewer tokens in the active supply, the higher will be the value of PRPL.

10% of PRPL total supply will be used for marketing and airdrop. Marketing refers to the promotion of the token and the project so that more people can know about and engage with it. Airdrop is a marketing campaign where the team will give away free tokens to anyone participating and completing a series of tasks. 100 million PRPL are reserved for this purpose.

7% of all tokens are reserved for Research & Development, which will include researching new opportunities to grow the project, find and develop new products and upgrade existing products to continue meeting the user expectations.

2% of PRPL will be used to compensate the project advisors for their time and efforts.

For more details about PurpleX token and exchange, visit https://purplx.io/

Original Source: https://medium.com/@PurpleX/purplex-tokenomics-all-you-need-to-know-167ac26792d9