Welcome to PR.network
PR.network LLC is a company based in Frisco, Texas, USA. Our small team of passionate freelance visionaries and developers is creating a better tomorrow using decentralized media, economy and governance solutions run in real-time on Stellar - an open network for money. We believe that blockchain technology, if embraced on a large scale and applied correctly, will bring about many positive changes to the world. We are committed to building decentralized platforms and protocols like PR.network for worldwide users to benefit from while sharing their passions.
Our mission is to empower people from all over the world using value generated by data - the oil of the XXI Century. We believe that the future of media, economy and governance is not in the hands of a few people behind the curtains but many. We create a decentralized reality where value and its power is for the people and belongs to the people.
PR.network was founded in Amsterdam, The Netherlands back in 2015 as a sole proprietorship of Rafal Wyszomirski. The platfrom was originally designed for Ripple, but the idea changed after the lead developer and co-founder of Ripple's Jed McCaleb created Stellar.
In 2016 Rafal and his family moved to California to start a professional career in business planning. The development of PR.network continued part-time. PR.network Alfa was released in 2017 and shortly after Bitcointalk.org thread was created. As a result the organic growth of community began. In just a few weeks the site has grown from zero to >2000 active users, >2100 unique cards, >55000 ratings and hundreds of bugs identified by the community.
In 2018, a BETA powered by Stellar was released. Without marketing, tutorials, professional support or ICO experience, in April 2018, Rafal tried to run ICO. The plan was to sell the utility token to collect funds for further development. Unfortunately the plan did not work out. Due to lack of funds the company and the development has been put on hold in 2018.
Since 2020 main developer was only able to support the project for a few hours a month, which wasn't enough to make significant progress. Fortunately the situation changed in 2022, Rafal and his family relocated to Texas and founded PR.network LLC. Two freelance developers made a substantial improvement in the code and the platform. Now we're getting ready to rebuild the community and create amazing success stories for all our users.
How it works
Our community is incentivized to create unique cards for public people, organizations, events and things. Each card can have many internet services and websites attached to it. Anyone can quickly and easily access internet's data in one place. Cards engage the community with different features, and content. People can chat, comment and share information with other stakeholders of that topic. Thanks to that, cards are a powerful tool for networking and connecting with likeminded people. Cards generate passive value to their stakeholders based on their popularity. The value is shared with all active community members that participated in the topic. The revenue sharing model ensures that everyone benefits from the success of the platform.
Rating is a value generating activity. Start using your free PR points to rate cards and get a piece of their pie. Each time you rate a card you become its stakeholder and you’re eligible to rewards it generates on a daily basis. All the ratings can be changed at any time. If at the end of the day your vote on the card is in line with the rating trend for that cycle, you and the rest of stakeholders who voted like you earn value from the pool of the opposite team. The number of daily PR points is limited and balanced. Every time you rate one card up you also must rate other card down to get your ratings validated. All unbalanced ratings are cancelled at the end of the cycle.
Value or [XPR] is the utility token of PR.network. There is 100 million of Value and up to 2% yearly token inflation governed by the community. Value is necessary at PR.network due to specific purposes it serves in the entire PR.network ecosystem. It is also the main baseline value and mean of exchange. Value allows the community to tokenize cards by burning equivalent amount of XPR. Value can be sent, traded or converted into all other tokens and cryptocurrencies.
Holding Value provides the community with the ability to tokenize their favorite topics and earn passive income generated by cards for as long as they hold the token. To mint a token one must first vote on the topic and possess at least 0.1 XRP to be able to start minting 0.1 of the tokens. Community tokens are minted in every cycle the cards receive ratings. Minting time might take from 10 to 10240 days depending on the percentage of tokens the issuing user is donating to other voters of the card (to support that coin's adoption) or PR.network. (to facilitate market making and inventive programs) The higher percentage the faster to coin is issued.
PR.network has it's own coin market capitalization https://market.pr.network/ The Market provides information about the total number of coins in circulation, wallets that trust our coins and the total market capitalization of our coins in US dollars. All PR.network coins are listed on the market with the details about them. Users can find the actual price, trading volume, circulating supply, % changes in the coin’s prices, or price graphs. There are also links to buy / sell tokens as well as to 3d party services with advanced data and charts.
All coins can be bought, sold, traded, or exchanged any time at our decentralized coin market exchange . In the future our coins are also expected to reach external exchanges, as well as cross chain networks. The Exchange supports Buy and Sell Offers for many coin pairs. Users can define the primary and secondary pair from the list and flip pairs based on their preference. The interface provides the graph with market depth and a table with existing offers. Users can transact coins based on the available market offers or create their own. Open Orders can be reviewed and cancelled if necessary.
There are 7 initial leaderboards:
Top Voters - have the biggest number of votes
Top activists - have the longer streak of active voting days
Top inviters - have brought the biggest number of active users
Top publishers - have the biggest number of comments
Top editors – have contributed the biggest numbers of add-on on cards
Top trader – have the highest trading volume for VALUE/XLM pair
More leaderboards are expected in the future to keep users motivated
Every time a Token for a card is created the equivalent amount of VALUE gets destroyed. This means the supply of VALUE shrinks. There are millions of topics but only 100 million of VALUE.
To prevent value from running out. PR.network has a built-in inflation mechanism. Every user with 12000 VALUE or more can setup up to 2% yearly inflation for the amount of XPR possessed. Up to 50% of the established inflation goes to the user initiating it, the remaining percentage is allocated by the user to the contributing community members. The list of beneficiaries includes leaderboard members of weekly and all-time boards, and more option will be provided in the future.
How to earn
If the rating of a cards is up or down in a day, 2% of the existing pool of value is redistributed to the voters that accurately predicted the change from those that had an inaccurate prediction. For instance, if card's rating went up, all users that voted down on the card lose 2%, and this portion of value is shared proportionally with the winners. Current allocation of Value to free ratings is capped at: 1 XPR per vote. This amount will shrink over time to:
a) account for the increase of XPR price. (1 vote should not cost more than 1 USD)
b) to align with the decision of the majority of XPR holders (using Proof of Stake)
Each card is a unique topic that generates value from user interactions. Ratings, subscriptions, ads, e-commerce, API queries, user tips, and all the other sources implemented in the future generate value. Entire value generated by a card is shared with users holding their tokens/NTFs .
Card tokens are created by the community. Everyone who rated the card can mint tokens for it. Each card can have up to 100 tokens which represent 100% ownership to value earned by the card forever. Each user can mint from 0.1 up to 1 token for a card by burning equivalent amount of Value [XPR]
Donations are an essential part of the minting process. During the minting setup users decide on the allocation donations of newly created tokens. The higher donation of coins to the community and PR.network the faster the coins are minted. Currently there only two token minting beneficiaries. In the future there will be many entities listed as beneficiaries (Non-profits, Fundraisers, Initiatives, etc.)
- The Community - All other users who rated the card take part in the minting process to support coins adoption through the distribution of coins to as many stakeholders as possible.
- PR.network - To support coins adoption on the markets and liquidity through market making activities and to coin giveaways for the contribution in card's development.
Donation Minting cycles 2 10240 10 5120 20 2560 30 1280 40 640 50 320 60 160 70 80 80 40 90 20 100 10
The ability to mint tokens for cards depends on the experience level of an user. The higher experience level the less ratings the card requires for the user to be able to start minting tokens for it:
Experience Level Required Ratings 0 2000 1 200 2 100 3 90 4 80 5 70 6 60 7 50 8 40 9 30 10 20 11 10 12 0
PR.network is built by the community of people contributing time to create and share valuable data about cards for other people take advantage of. The contributions are rewarded using the inflation mechanism.
Holders of Value with a minimum of 12000 XPR can turn on yearly inflation rate on the value they possess. Up to 50% of the inflation is credited weekly to the initiator but the remining 50% or more is spread between the contributors based on the allocation established by the initiator. Every contributor that made it to top 100 in the leaderboard earns.
The list of contributors will be extended in the future. Current list of beneficiaries includes:
TOP VOTERS (WEEK) & (ALL TIME)
TOP CREATORS (WEEK) & (ALL TIME)
TOP EDITORS (WEEK) & (ALL TIME)
TOP PUBLISHERS (WEEK) & (ALL TIME)
TOP INVITERS (WEEK) & (ALL TIME)
TOP ACTIVISTS (WEEK) & (ALL TIME)
TOP MARKET MAKERS (WEEK) & (ALL TIME)