Props is an open-source project1 intended to tokenize the digital economy. We are connecting a network of apps, and developing a platform to reward the people who's actions help digital communities grow.
The Props Token is designed to be the underlying currency of a decentralized network of apps for end-users to create, consume and engage with content and services.
Automatically grants tokens to apps based on their verifiable portion of the activity in the Props economy, as transparently and publicly recorded on the PropsChain by independent validators
Define the type of user activity an app wants to encourage, and reward their relevant users with Props the app earns from the Protocol
Earn for engaging with an app. Users accumulate Props and benefit from in app functionality across participating apps, and the potential financial value of having a stake in the network.
A significant portion of Props Tokens will be granted to key contributors to the Props Network.
Props Tokens can be granted to people or entities who contribute significantly to the development of the Props Network. Right now, we will award grants to participants who integrate Props into their apps or develop apps on the Props Network, develop creative content for the Props Network, or help develop software on the Props Network.
1Props PBC is a Delaware public benefit corporation formed in September 2018, with a designated public benefit purpose of creating an open, sustainable and equitable media network that fairly rewards all participants in the Props Network for their contributions to the network, by supporting and promoting the growth, research, development, and adoption of the protocol and token underlying the Props Network. Certain Props Tokens may be distributed as grants at Props PBC’s discretion to persons or entities who may contribute significantly to the development of the Props Network. Props PBC is the current owner of the Props Network smart contracts, including the Protocol Reward Engine and may make changes or updates to these smart contracts. We anticipate that, in the future, Props PBC could entrust these smart contracts to a decentralized, autonomous organization, which would then enable Props Token holders to vote on changes to these smart contracts.