The blockchain and cryptocurrency spaces have been consistently delivering innovative and astounding technologically advanced projects in the past decade. Centralised exchanges such as Binance and open-source blockchain networks like Ethereum are continuing to grow consistently as more and more users get integrated in this field of decentralised finance and the like. A seemingly constant factor for all projects within the space is native tokens.
As such projects have high potential for returns, require a significant amount of capital to kickstart and happen to be in a still emerging field of business, crypto startups resort to developing their own native token for many reasons, one of which being project funding. That said, a considerable amount of these project native tokens serve no other purpose to the wider community. Holders do not necessarily gain anything for holding, and sellers are not running riot with exponential profits either. So, what sets out “good” tokens from the “bad” ones? Aside from external factors such as investor backing or organic hype, it is usually the token’s utilities that truly define its true value and monetary potential. PropChain being no different and also developing our own native token — $PROP — which is set to go public in the second quarter of 2022 (Q2), we have put in extensive and lengthy labor to create a token that is not only contributing to product funding and development, but brings true value to its holders and users. In the upcoming sections, we take a deep dive into $PROP token’s utilities.
$PROP token comes with three main utilities: Staking, Fees and Payment. Each of which have their own sub-utility items that define in more depth what the aforementioned three truly do and offer the holder, and below, we will discuss them one-by-one.
Staking your $PROP tokens entails putting them to use and holding them instead of completely caching them out for profit, which in turn gives you an array of benefits! Some of these include:
- Unlocking different portfolio limitations
- Access to primary marketplace
- Access to P2P Swaps
- Staking rewards
- PropChain vault access
In order to gain access to your vault, you must hold $PROP tokens in your wallet, as these tokens fuel the PropChain ecosystem and allow it to run as smoothly and efficiently as possible. The tokens also allow you to conduct P2P swaps with your colleagues and peers, as well as other international investors, who like you, wish to invest in fractional real estate assets!
Some fees are included on PropChain and which facilitate transfers, similarly to gas fees, the PropChain marketplace uses $PROP as its native token. Utilities related to fees are numerous:
- Listing fee for primary marketplace
- Token tax
- Wallet creation fee
- Dividend distribution fee
- P2P swap fees
- Exchange fees
Prior to listing a property on the marketplace, property developers — be it an in-house developer or external property provider — must pay a listing fee to see their development on the PropChain marketplace. This not only guarantees quality, but provides leverage for the lister, who takes on the liabilities of paying the aforementioned fee to list their property. $PROP equally allows investing driven users to create wallets and collect their rental receivables as dividend.
Finally, $PROP also allows you to buy and sell fractional real estate assets on our official marketplace, as well as conduct P2P swaps. Without $PROP tokens, it is not possible to purchase real estate on PropChain, which further makes $PROP an integral and crucial cornerstone of the entire project, as well as increasing its utility for its holders.
Due to legal and ethical reasons, we cannot and will not discuss anything related to potential financial returns or the prospective market value of the token post-public sale, to maintain our integrity as well as the integrity of the cryptocurrency market. However, we are extremely proud of the work that has gone into developing these utilities and are truly adamant that the value it brings is well-sculpted through the utilities discussed in this article, which makes us even more enthusiastic about bringing our incredible community this token come Q2 2022.
More comprehensively, make sure to check out PropChain’s project website for more information about us and to sign up for the platform’s waiting list — and become one of the first users on the platform post-launch!