The development and launch of the crypto token ProperT has been in the works for some time. This new digital asset, whose forthcoming release is scheduled for November 2023, will be available on the Ethereum blockchain (ERC-20) and will also be bridged to (MATIC) Polygon’s blockchain. ProperT is a fully fungible utility token that offers 5% token-back rewards on every purchase. Just like Bitcoin, ProperT will also follow a limited digital asset model and employ burning as a deflationary mechanism to help stabilize its value.
Let’s take a deeper dive into the parameters of ProperT in order to understand why so many crypto users are anticipating its release.
What makes this new utility token, ProperT, so special?
To begin with, let’s recap what utility tokens are. Utility tokens are a digital currency designed to give holders special access to a particular product, service or privilege. They are created within a specific blockchain-based ecosystem or decentralized application, which, in this case, is MATIC Polygon.
ForumPay is fully enabled to accept ProperT tokens from any kind of wallet, and exchange them for goods and services marketed in fiat currencies. With ForumPay, both buyers and merchants benefit from the speed and security of crypto railways. Buyers can leverage their tokens by paying the many ForumPay-enabled merchants around the world, with limitless spending capacity. At the other end of the spectrum, merchants are able to reach this growing and affluent demographic of crypto users, while remaining within the familiar crypto space and receiving their funds at the end of each business day.
Token-back rewards
What’s more, for every transaction using ProperT on the ForumPay network, users will receive 5% token-back rewards sent directly to their crypto wallet. It works like a credit card; the more you spend, the more you are rewarded. This feature also applies to the new ForumPay gift card platform, enabling ProperT holders to exchange their tokens for credit and purchase from the growing ForumPay network of FIAT vendors around the world without leaving the crypto space. Scroll down for more information!
The advantages for real estate investors
These token-back rewards will also be hugely beneficial for users looking to purchase real estate using ProperT tokens. Used for a down payment on a new home, or for an entire property, the rewards could be extravagant, allowing the buyer to use these tokens to spend freely on renovations, new furniture or maintenance services.
ForumPay works with a series of accredited mortgage lenders who accept crypto tokens and currencies as down payments on real estate. By way of example, in 2022, ForumPay enabled a €5.4 million transaction for a single-family residence entirely with crypto.
The advantages of holding a limited digital asset
ProperT will also function as a limited digital asset. To begin with, just 21 million ProperT tokens will ever come into existence. This fixed supply will be programmed and enforced through a process called “halving”, which, as the term suggests, halves the number of new tokens released every four years. Creating this scarcity reflects the basic supply and demand economic principles that underlie the long-term value held by gold, another limited commodity.
Another parameter that makes ProperT such an attractive asset to hold, is that it will employ burning. Burning is a common technique in the crypto space (employed also by Ethereum, for example) that involves deliberately and permanently removing tokens from circulation. In the case of ProperT, tokens will be burned once they are spent.
A world of gift cards and spending opportunities awaits
Thousands of businesses have already begun to maximize the spending capacity of the growing number of crypto users by offering gift cards. These digital cards allow crypto users to interact with and purchase from fiat-based companies without leaving the crypto space. This is not only an easier option, but also a cheaper option than exchanging crypto for fiat currency. Crypto natives are able to bypass unnecessary conversion and blockchain fees, and spend their crypto as credit. International companies such as Ikea, Apple, Sky, and Spotify all offer gift cards, allowing this affluent demographic to use their funds for practical means.
In order to give ProperT immediate value and utility as soon as it is released, we will also launch a gift card platform where ProperT users can exchange their tokens for gift cards. There will be no need to wait for others to onboard the cryptocurrency, it will be instantly functionable. The ForumPay merchant network, upon which the ProperT gift card platform will be based, is growing exponentially, exemplified by the 151% average monthly growth rate in the last year. The platform itself will therefore offer gift cards from a host of merchants offering products and services, which ProperT holders can access using their own tokens, as well as the token-back rewards they receive from each purchase.
Poised for a late November 2023 launch on the Ethereum blockchain (ERC-20) as well as being bridged to (MATIC) Polygon, ProperT is an exciting and promising opportunity for crypto natives. With a 5% token-back rewards program offering users increased spending power, seamless integration with the ForumPay payment gateway, and gift card compatibility to boost its utility, ProperT is an attractive choice for both buyers and merchants interacting within the crypto space.
Find out more by visiting getpropert.com today!
