PRPS - Purpose (Token)
Type of site | Cryptocurrency |
|---|---|
| Website | www |
| Launched | November 20, 2017 |
| Current status | Active |
PRPS (Purpose) is a utility token built on the ERC20 Token Standard that allows people to contribute to its altruistic objectives holding it. Its primary feature is its ability to generate a second token called DUBI (Decentralized Universal Basic Income) that is supported by a large community of activists as well as an independent group of volunteer developers who work together towards increasing DUBI’s value, in preparation for eventually gradually distributing it among the world’s population serving as a universal basic income (UBI).
In contrast to more feature-rich cryptocurrencies, Purpose’ functionality is rudimentary and its value primarily originates from its ideological objective and the future intrinsic value of Purpose integrated software. Purpose and its basic features are built on the idea of its supporters ‘hodling’ it, with the intent of contributing to its value and, by extension, its ability to do good.
HODL mechanism[edit]
Purpose’s ‘HODL’ mechanism allows users to lock the token away with a smart contract for 3, 6 or 12 months that gives instant access to a percentage of DUBI that can be used in different applications built by the development team with likely minimum equal value as Purpose.
| Time locking | % of DUBI in return |
|---|---|
| 3 months | 1 |
| 6 months | 2 |
| 12 months | 4 |
Initial fundraising[edit]
The initial limited fundraising was conducted through Athene's livestream on Twitch.tv/athenelive where, at Athene’s discretion, PRPS tokens were reserved for donors who support the project. Fundraising concluded on the 20th of November 2017, when a total of 2 million Purpose was reserved. During the fundraising, 1 PRPS was reserved for each $0.5, after which extended fundraising ran at $1 per PRPS until the 19th of December.
DUBI buy-wall[edit]
The DUBI buy-wall is a feature based on the gold standard with the function of maintaining the value of DUBI. For every batch of a specific amount of PRPS sold for a specific amount of dollars, the DUBI buy-wall can be increased by 0.04% and be funded for a period of 10 years.
The latest roadmap:
| Batch | Price per PRPS | Amount of PRPS per batch | Total amount PRPS sold | Value per batch | Amount of dollars received | Total amount of DUBI | DUBI worth accumulated | Dollars left after all DUBI sold |
|---|---|---|---|---|---|---|---|---|
| 1 | $2.00 | 7,100.00 | 7,100.00 | $14,200 | $14,200 | 284.00 | $5,680 | $8,520 |
| 2 | $2.01 | 7,128.40 | 14,228.40 | $14,342 | $28,542 | 569.14 | $11,451 | $17,091 |
| 3 | $2.02 | 7,156.91 | 21,385.31 | $14,486 | $43,028 | 855.41 | $17,314 | $25,714 |
| 4 | $2.04 | 7,185.54 | 28,570.85 | $14,631 | $57,660 | 1,142.83 | $23,271 | $34,389 |
| 5 | $2.05 | 7,214.28 | 35,785.14 | $14,778 | $72,438 | 1,431.41 | $29,321 | $43,116 |
| 6 | $2.06 | 7,243.14 | 43,028.28 | $14,926 | $87,364 | 1,721.13 | $35,468 | $51,896 |
| 7 | $2.07 | 7,272.11 | 50,300.39 | $15,076 | $102,440 | 2,012.02 | $41,711 | $60,729 |
| 270 | $10.00 | 20,779.12 | 3,440,558.44 | $207,737 | $19,515,102 | 137,622.34 | $13,758,647 | $5,756,454 |
| 271 | $10.06 | 20,862.23 | 3,461,420.67 | $209,819 | $19,724,921 | 138,456.83 | $13,925,127 | $5,799,794 |
| 272 | $10.12 | 20,945.68 | 3,482,366.35 | $211,923 | $19,936,844 | 139,294.65 | $14,093,447 | $5,843,397 |
| 273 | $10.18 | 21,029.47 | 3,503,395.82 | $214,047 | $20,150,891 | 140,135.83 | $14,263,626 | $5,887,264 |
| 655 | $100.03 | 96,628.79 | 22,478,825.43 | $9,665,313 | $972,465,868 | 899,153.02 | $899,379,517 | $73,086,351 |
| 656 | $100.63 | 97,015.30 | 22,575,840.73 | $9,762,198 | $982,228,066 | 903,033.63 | $908,680,673 | $73,547,393 |
| 657 | $101.23 | 97,403.36 | 22,673,244.09 | $9,860,054 | $992,088,120 | 906,929.76 | $918,076,779 | $74,011,342 |
| 1156 | $2,003.08 | 713,997.42 | 177,438,352.68 | $1,430,192,085 | $144,105,559,717 | 7,097,534.11 | $142,169,100,407 | $1,936,459,310 |
| 1157 | $2,015.10 | 716,853.41 | 178,155,206.10 | $1,444,528,331 | $145,550,088,048 | 7,126,208.24 | $143,599,926,342 | $1,950,161,706 |
| 1158 | $2,027.19 | 719,720.82 | 178,874,926.92 | $1,459,008,283 | $147,009,096,330 | 7,154,997.08 | $145,045,129,213 | $1,963,967,118 |
This roadmap takes in account:
- Increase of amount PRPS per batch by 0.04% (factor 1.004)
- Increase PRPS/DUBI price by 0.06% (factor 1.006)
- Total DUBI increase = 4% of all PRPS locked for 12 months per batch
- Per batch a 10 year sustainability of the DUBI buy-wall
To see the complete roadmap click here.
Trading PRPS and DUBI[edit]
Both tokens are tradable on the decentralized exchange Dubiex.
Projects to acquire funds[edit]
Clash of Streamers[edit]
This is a high-profile mobile game similar on a certain base to 'Idle Heroes' and 'Clash Royale'. All profit made by this game will be used to strengthen and increase the DUBI buy-wall. Special features of the game are the integration with live streaming platform Twitch.tv and the implementation of DUBI.
Charity construction[edit]
Productivity app[edit]
References[edit]
Reese Leysen, Purpose Whitepaper, prps.io, (2018-03-17), https://www.prps.io/Purpose.pdf
External links[edit]
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