NEW YORK, Oct. 25, 2021 (GLOBE NEWSWIRE) -- PrivacySwap's long-awaited PrivacyCard is about to debut this month. In addition to that, PrivacySwap will also release its two new tokens, PRVG and PRV2. These two new tokens will elevate its users' farming and earning experience.
PrivacySwap's PrivacyCard has been part of the platform's roadmap ever since its initial launch last April. PrivacyCard is the platform's debit card that aims to bind crypto and fiat transactions. It also aims to eliminate time-consuming processes and hidden charges when trading cryptos for real money.
PrivacyCard accepts a wide variety of cryptocurrencies ranging from BTC, ETH, BNB, USDT, BUSD, USDC, CAKE, XVS, ALPACA, EPS, MDX, AUTO, MBOX, and more. Online shopping, subscribing to media streaming apps and more is also possible using the PrivacyCard.
Investors must stake the amount in PRVG (listed below) to own a PrivacyCard. Then, a holder can use their debit card in various ways and make investing in crypto more interesting.
Black Premium Tier: USD 500
Black Metal Tier: USD 5,000
Silver Metal Tier: USD 10,000
Gold Metal tier: USD 15,000
Ready for that seamless crypto-to-fiat, real-world spending?
Referring a friend to buy and use PrivacyCard can grant you a USD 10 referral reward (for black premium) and USD 50 (for metal series).
Moreover, PrivacySwap will also release new tokens as part of the debit card launch. PRVG (governance and utility token) and PRV2 (yield farming token) are the two new tokens that PrivacySwap will soon launch, a process dubbed "The Great Migration." The two new tokens are not just to address the platform's current status but also to bring more income to its investors.
PRVG and PRV2: why are they important?
Being a governance token, PRVG will surely make investing in PrivacySwap more engaging and profitable. PRVG is the ownership token that will allow holders to be part owners of the PrivacySwap ecosystem (like shareholders in traditional finance). Moreover, staking PRVG will reward users with PRV2. They will also earn a large portion of deposit fees generated throughout the new PrivacySwap farms and transfer taxes made from PRV2. PRVG is limited in supply and is emitted at a slow rate. When you hodl and stake PRVG, you will become a community owner of PrivacySwap. Moreover, the more PRVG you hodl, the more powerful you become in the platform.
PRV2, on the other hand, is inflationary with several deflationary measures in terms of transfer taxes and sell taxes. Instead of burning that out of circulation, PRV2 will be converted into BUSD and distributed to users who stake PRVG. Also, PRV2 has a fixed supply cap with high emissions.
Moreover, PRV2 encompasses a unique referral system that incentivizes users to bring their friends along to enjoy the sweet, high APR that PrivacySwap will have to offer.
PRVG and PRV2 will be launched along with the debit card's release. Hence, staking in PrivacyCard will be done in PRVG, which makes staking much more stable.
Both tokens will be available to both PRV holders and those who are not. 80% of the initial supply will be allocated to existing PRV holders. PRV holders are also guaranteed to convert their PRVs to the new tokens on a fixed ratio.
Non-PRV holders, on the other hand, will need to join the public sale of the PRVG and PRV2 once the tokens are available for purchase. 20% of the initial supply will be allocated to the non-PRV holders.
Further down the roadmap, PrivacySwap also announced their plan to move into a DEX from a yield farming platform. This is because they noticed how other DEX platforms earn from being one. In addition, DEXs allow low swapping fees. Therefore, investors can have the most significant return from the platform without compromising security and paying for a hefty transaction fee. PrivacySwap is still finalizing everything to create a perfect DEX for its users. Nevertheless, they will update their social media and official web pages below once everything falls into its perfect place.
Got any questions? Let them know.
Telegram Announcement: https://t.me/PRVAnnouncements
Dexter Ng, PrivacySwap.Finance CTO