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What is the issue price and issuance volume of Propy (PRO)?
Propy's (PRO) initial coin offering in 2017 raised $15 million through the issuance of 30 million tokens at a price of $0.50 per token.
Dec 14, 2024 at 12:20 pm
Propy (PRO): Issue Price and Issuance Volume
Propy (PRO) is an ERC-20 token that powers the Propy platform, a blockchain-based real estate marketplace. The token was issued in 2017 through an initial coin offering (ICO), raising a total of $15 million.
Issue Price
The issue price of PRO was $0.50 per token. The ICO was conducted in two phases:
- Private sale: The private sale was held from February 21 to March 14, 2017. A total of 20 million PRO tokens were sold, raising $10 million.
- Public sale: The public sale was held from March 15 to April 12, 2017. A total of 10 million PRO tokens were sold, raising $5 million.
Issuance Volume
The total issuance volume of PRO is 100 million tokens. The tokens were distributed as follows:
- ICO: 30 million tokens (30%)
- Team: 20 million tokens (20%)
- Advisors: 10 million tokens (10%)
- Reserve: 40 million tokens (40%)
The reserve tokens are held by Propy and can be released for future development or other purposes.
Use Cases of PRO
PRO is used for a variety of purposes on the Propy platform, including:
- Purchasing real estate: PRO can be used to purchase real estate on the Propy marketplace.
- Paying for services: PRO can be used to pay for services on the Propy platform, such as title insurance and legal advice.
- Staking: PRO can be staked to earn rewards on the Propy platform.
- Governance: PRO holders can participate in the governance of the Propy platform by voting on proposals.
Conclusion
PRO is an important part of the Propy ecosystem. The token is used for a variety of purposes, and its value is expected to increase as the Propy platform grows.
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