July 1, 2020
Introducing Paras Action Coin (PAC); virtual token every Paras' user will have that is required to traverse through our platform's features such as Transmit, Piece, and Memento.
PAC is a utility token used on Paras to reward users for their contributions. PAC can be distributed and exchanged between users in Paras or any NEAR compliant wallet. We utilize PAC in every social activity (creating memento, giving the content a piece, transmitting a post, and posting.)
Total token supply: 230,000,000 PAC
All token is given directly to Paras and 10% of it will be distributed through our early adopters who manifest their time to use Paras during the alpha version. We will reward those who sign up and create interesting post a few PAC to bootstrap the network.
Another 10% will be allocated during the beta version of Paras. Finally, during public launch, we will issue 30% from our initial token supply to be given out to users.
PAC is aspired to be the token that will support the content creator and its content. By utilizing PAC, users can support the content that they like; friction-less. We agree to create an environment where creators can flourish and incentivized. With PAC, transmitting posts are beneficial for the transmitter too. We decide to divide the tipping mechanics into these formula:
The power and serviceability of a tokenized Web 3.0 might not be fully realized yet. Everyone who adopts the internet and social media try to find their way to express themselves, yet we might undervalue the importance of a decentralized network that helps the contributors to sustain their content without being exploited.
We aspire to do a better job of being transparent, supporting the community and individual interest, and giving them a chance to flourish with the help of blockchain.
PAC can and will transform its value beyond the circulation of its platform. Content creators can monitor their own data and incentivized as well. Users can impact and support the stability of the economy and support other users at the same time.
We look forward to seeing content creators who hold power over their content without being barred by centralized factors; as every user should have the same amount of right to secure their content, to voice their mind, and to show their faces.