Summary: PayRue has wrapped 3 billion PROPEL (BSC) which is 37.5% of the total PROPEL supply to be sold over a 12 months period through a specialized vested token called VPROPEL (BSC) which holders can swap into PROPEL for a fixed price of 1:1 on contract expiry.
The purpose of the token sale is to continue to build and release services of PayRue and PayRue DEX in DeFi, trading, crypto/fiat gateway, loan, borrowings, staking, and token asset management protocol.
The total supply is 3 billion VPROPEL (=3 billion PROPEL)
The VPROPEL is a wrapped PROPEL
VPROPEL is 37.5% of the PROPEL supply
Fixed price at 0.005 BUSD
Fixed swap ratio 1:1 with PROPEL
Starts on the 3rd of November 2020 at 10 AM UTC
Contract expires on 3rd November 2021
Be bought at PayRue DEX
Can be exchanged and traded during the vesting period
Voting rights during the vesting period
Bob buys 20,000 VPROPEL for 100 BUSD which gives Bob the right to exchange 20,000 VPROPEL into PROPEL after the 4th of November 2021. If PROPEL trades 0.1 BUSD on the 4th of November 2021 then Bob could sell 20,000 PROPEL for 2,000 BUSD and make a profit of 1,900 BUSD. (2000 BUSD Value of PROPEL - 100 BUSD Cost of buying VPROPEL)
John buys 20,000 VPROPEL for 100 BUSD which gives John the right to exchange 20,000 VPROPEL into PROPEL after the 4th of November 2021. If PROPEL trades 0.001 BUSD on the 4th of November 2021 then if John exchanges VPROPEL to PROPEL they would be worth 20 BUSD, so John would make a 30 BUSD loss if he sold them.
Important for both Bob and John is that they are able to trade and exchange VPROPEL with other traders on exchanges such as PayRue DEX that will have several pairs listed vs VPROPEL and various AMM protocols on BSC.
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