PROPEL HOLDING

2 min readNov 3, 2020

About PROPEL & VPROPEL Distribution

London 3rd of November 2020

Dear PayRue users, as of today we launched our token sale of VPROPEL a wrapped vested token of PROPEL.

VPROPEL holds a total supply of 37.5% of the total supply of PROPEL.

We created VPROPEL to allow investors to be able to invest in PayRue and PROPEL ecosystem under less volatile terms. This is why VPROPEL have the following characteristics

Fixed price of 0.005 BUSD
Fixed supply of 3,000,000,000 (37.5%)
Expiry on 4th of November 2021, after this time any holders of VPROPEL can exchange 1:1 into PROPEL
Holders of VPROPEL are able to trade it vs other pairs during the vesting period

Distribution of PROPEL and VPROPEL

This pie chart shows how the distribution is done

VPROPEL is wrapped and vested PROPEL until the 4th of November 2021.
PayRue Team Wallets is for existing and future team and advisors it's vested for 12–24 months.
PayRue Reserve Wallet is multi-signature signed wallets for special situations and will be announced to the community on any movements.
The operations wallet is a source of supply for liquidity mining on PayRue DEX and rewards and bonuses for customer engagement.

Burning

The question of burning has frequently been asked by community members, and it's a crucial and important issue for us as well. As a team PayRue has decided that 60% of the revenue that is being generated from PROPEL will be burnt or shared with the community on different incentives this will be based on voting.

Voting

PayRue and PROPEL aim to be run with a large influence from the community. At the moment we have put 1 million PROPEL as requirements to make a proposal however every user is able to vote and discuss these.