FAQ
Common Questions
Who is the owner of Propel Tokens?
Propel tokens is issued and owned by PayRue Exchange OU.
Who will own the 10 billion Propel token?
50% (5bn) distribution, 35% (3.5bn) in company reserves and 15% (1.5bn) of team members partners.
What is the purpose of Propel?
Propel was created to serve the PayRue members and users as a means of discount token and rewards incentives for using PayRue
What blockchain is Propel on?
Propel is a token launched on Stellar Blockchain
Was Propel and ICO?
Propel never did an ICO or raised any funds on the back of Propel
Is there a roadmap of Propel?
Propel future services and engagement will be correlated into what services and products being created in PayRue
What pairs are traded with Propel?
Today Propel is paired with XLM.
Will propel get listed on more exchanges or with more pairs?
Yes, probably we will update the community as of when that happens
How can I exchange Propel?
You can exchange Propel/XLM on https://interstellar.exchange/
How is Propel distributed?
Each account holder of PayRue received 100 Propel when getting KYC approved in PayRue.
How can I use Propel today?
Propel is being used for a 50% discount on commission in PayRue for exchanges and transfers.
What is the token economic behind Propel?
Propel that PayRue receives in a commission 25% of that will be burnt 1st day after each quarter. Once the 5 billion distribution account is distributed to zero (0) balance then PayRue will burn 10% off Propel received in commission 1st day after every 6 months.
What happens with Propel once the Distribution account is empty in terms of 100 Propel rewards to be given out newly KYC approved PayRue users?
PayRue will distribute Propel to each new KYC registered PayRue users based on a fair value principal in fiat/major cryptocurrency into valuation of Propel token which will be taken from retained earnings generated in Propel from commission.
How to follow the Propel Distribution Account?
You can follow Propel Distribution Account on Stellar Network address: GDA2AGXIVGWJY3ST5DEIONKXWCS7WO224EK4PKH2JRMKEQ77GH6EIIMN
What about the 3.5 billion Propel reserves?
The Propel reserves in PayRue Exchange is held as reserves for commercial deals, partnerships, and general growth opportunities.
How to track Propel reserves balance?
The address on Stellar Network is: GAJDD7KYTHJCFQUNOMYIQJPOKFZHO4QSFJ5G7JMK6HTB5NUFRFMHRERX PayRue will announce any release of reserves exceeding 300 million Propel 7 days prior to transfers via Twitter and Medium Blog.
How can you track and follow Propel being burnt on the 1st day of each quarter?
The address to track burning of Propel is will be announced on Twitter and Medium the day after the burn.
How do you burn Propel token?
Propel token is being burned by sending them into an address with not know private keys, so it becomes inaccessible.
What is the relationship with IXT?
IXT holders are allowed to free of commission exchange IXT into Propel at a fixed price of 1:1
What will PayRue do with IXT received?
PayRue will burn every IXT received as a swap of IXT into Propel in PayRue.