What is the issuance and circulation of PARSIQ (PRQ) coins?

The PARSIQ Network's native cryptocurrency, PRQ, facilitates transactions, fuels ecosystem growth, and rewards community participation.

Dec 26, 2024 at 02:15 am

Key Points:

• Issuance and Initial Distribution of PARSIQ (PRQ)
• Token Distribution and Allocation
• Circulating Supply and Token Economics
• Role of PRQ in the PARSIQ Ecosystem
• Future Issuance Considerations

Issuance and Initial Distribution of PARSIQ (PRQ)

• PARSIQ (PRQ) is an Ethereum-based ERC-20 token that serves as the native cryptocurrency of the PARSIQ Network.
• The initial issuance of PRQ tokens occurred through a public token sale in 2019. During the token sale, a total of 500 million PRQ tokens were offered to the public, with a portion allocated to early investors and team members.

Token Distribution and Allocation

• The initial distribution of PRQ tokens was as follows:

  • 50% allocated to the public through the token sale
  • 20% reserved for the PARSIQ team and advisors
  • 15% set aside for ecosystem development and partnerships
  • 10% allocated to the PARSIQ Foundation
  • 5% allocated to the PRQ Buffer Fund

Circulating Supply and Token Economics

• The circulating supply of PRQ tokens is continuously adjusted through burns and issuance.
• Burns: A portion of the transaction fees charged by the PARSIQ Network is used to burn PRQ tokens, effectively reducing the circulating supply. This mechanism contributes to the deflationary nature of the PARSIQ token.
• Issuance: New PRQ tokens may be issued in the future for specific purposes, such as rewarding network participants or funding ecosystem initiatives. However, such issuance is subject to approval by governance and the community.

Role of PRQ in the PARSIQ Ecosystem

• Transaction Fees: PRQ is used to pay for transaction fees on the PARSIQ Network. These fees are burned, contributing to the deflationary aspect of the token.
• Staking Rewards: Users can stake PRQ tokens to earn rewards and participate in the governance of the PARSIQ Network.
• Ecosystem Development: A portion of the PRQ tokens allocated for ecosystem development is used to fund projects and initiatives that contribute to the growth and adoption of the PARSIQ Network.
• Community Incentives: PRQ tokens are used to incentivize participation in the PARSIQ community and reward users for contributing to the network's success.

Future Issuance Considerations

• The issuance of new PRQ tokens in the future will be guided by the following considerations:

  • Demand for PRQ: The need for additional PRQ tokens will be assessed based on factors such as network growth, adoption, and community feedback.
  • Deflationary Mechanism: The issuance of new tokens will be balanced against the deflationary mechanisms in place to maintain the value of PRQ over time.
  • Governance Approval: Any issuance of new PRQ tokens will require approval from the PARSIQ community and governance processes.

FAQs:

Q: Where can I buy PARSIQ (PRQ) tokens?
A: PRQ tokens can be purchased on major cryptocurrency exchanges such as Binance, Coinbase, and Uniswap.

Q: What is the purpose of staking PRQ tokens?
A: Staking PRQ tokens allows users to earn rewards while contributing to the security and decentralization of the PARSIQ Network.

Q: How is the circulating supply of PRQ tokens managed?
A: The circulating supply is adjusted through a combination of burns and issuance. Burns reduce the supply and contribute to deflation, while issuance is subject to governance approval and used for specific purposes.

Q: What are the benefits of holding PRQ tokens?
A: Holding PRQ tokens provides benefits such as reduced transaction fees, staking rewards, participation in governance, and exposure to the growth and success of the PARSIQ Network.

Q: How can I participate in the PARSIQ community?
A: You can participate in the PARSIQ community by joining online forums, following the project on social media, contributing to development or discussion, and engaging with the team and community members.