What Is Prosper? Is Prosper A Good Investment?

8UNx...RQtg

24 Feb 2024

KEY TAKEAWAYS

Prosper is a short-term non-custodial risk insurance platform based on Binance Smart Chain and Ethereum. It operates on robust smart contracts to eliminate the risk of attacks.
The platform's products include prediction pools and liquidity mining programs.
PROS is the native utility token of the Prosper platform with various applications.

1. WHAT IS PROSPER?

Prosper is a cross-chain platform supported by Binance Smart Chain and Ethereum, or in other words, it is a non-custodial risk insurance platform. Due to its operation based on robust smart contracts, the risk of Prosper being attacked by hackers is very low.
The main products of the Prosper platform include:

Prediction pools: Each pool consists of bull and bear sides, and pool owners can set custom fee rates and profit from the pool.
Liquidity mining program: Prosper utilizes liquidity from liquidity providers for seed pools.
Prosper Votes: The platform allows buyers to auction and price NFT collections through voting.
Prosper DAO: Created in the form of a DAO toolkit so that the project can leverage the establishment of communities with separate prediction mechanisms for their NFTs and Tokens.

What is Prosper? | Source: prosper.so

2. HOW DOES PROSPER WORK?

Prosper operates based on pools. Smart contracts will create 31 pools every day, consisting of 24 pools per hour, 6 pools every 4 hours, and 1 pool per 24 hours. Each pool will have bull and bear sides. Your task is to participate in predictions by betting on either the bull or bear side. If your bet wins, you will receive the money from the losing side at the specified ratio.

3. WHAT IS PROSPER TOKEN?

PROS is the native utility token of the Prosper ecosystem with various applications. Here is some information about the token:

3.1 PROS Token Price

According to the Klarda App, the current price of the PROS token is $0.6277, which has increased by 0.35% compared to yesterday. However, this price is not fixed and will fluctuate according to market dynamics. Therefore, you should regularly monitor the updated price on the Klarda App to get the most accurate price information.

PROS token price

3.2 PROS Tokenomics

Token name: Prosper Token
Ticker: PROS
Blockchain: Ethereum and Binance Smart Chain
Token Standard: ERC-20 and BEP-20
Token Contract: 0x8642A849D0dcb7a15a974794668ADcfbe4794B56
Circulating supply: 4,474,804 PROS
Total supply: 100,000,000 PROS

3.3 PROS Token Allocation

The allocation of Prosper tokens will be distributed according to the following percentage breakdown:

Staking rewards: 30%
Team and advisors: 13.375%
Ecosystem: 12%
Marketing: 10%
Token Reserves: 10%
Public sale: 7%
Community: 5%
Strategic: 5%
Private: 3%
Seed: 4%
Pre-sale: 0.625%

PROS token allocation | Source: prosper.so

3.4 PROS Token Use Cases

The PROS token has the following practical applications:

Payment of fees for prediction market transactions with a 50% discount and PROS tokens received as fees will be burned.
Users can create their prediction pools using PROS tokens.
Users receive insurance when participating in predictions.
Integration with fiat currency.

4. FAQS

If you are just starting to learn what Prosper is, you can refer to some frequently asked questions below:

4.1 Is Prosper A Good Investment?

Prosper is considered a platform with potential for future development. However, whether it is a good investment depends on your goals and your knowledge of the cryptocurrency market as well as betting.

4.2 Is Prosper Worth It?

Whether the Prosper token is worth it depends on investment goals and other factors such as profit potential, risks, utility, market volatility, etc. It's essential to conduct thorough research before investing.

4.3 How Does Prosper Make Their Money?

Prosper employs a transaction-based business model, meaning they generate revenue through fees charged on various transactions within their platform including origination fees and servicing fees.
Through this article, hope you have learned what is Prosper. The project has attracted attention from cryptocurrency investors and has the potential for strong future growth. However, it's essential to thoroughly understand the risks before investing.