Parsec Frontiers will be MMO release that will feature a virtual galaxy we can all explore together. According to announcements, the game will be very attractive. In this article, we will focus on the financial side of it. You will need to official token named PRSC (Parsec Credits) to play. Here is everything you need to know about it.Use PRSC Tokens to Colonize the Milky Way Galaxy
Parsec Frontiers will focus on our galaxy. In case you didn’t know, it is officially called Milky Way (just like the chocolate bar). The game allows you to explore it, discover new planets, find resources and construct items that you can later trade in trading posts.
The good news is that the game itself is entirely free. However, the developers planned for the players to utilize PARSEC (PRSC) tokens to make a spaceship and discover planets around us. That means you will need to have PRSC to begin playing. There will be a crowd sale that will enable you to get them, but let’s learn a few things about the token first.
Ethereum in Combination with Customized Public Chain
If you know a thing or two about the crypto market, it’s probably not a surprise that the developers chose Ethereum as their project’s platform. After all, everyone seems to be choosing it simply because it looks like the best choice at the moment. By using Ethereum, you can easily access various trading exchanges and that is reason enough for using it.
However, the guys who are developing Parsec Frontiers are very aware that you can’t use the main net of Ethereum for an application that will probably have thousands of transactions per hour. It would affect the speed of processing transactions, as well as its cost.
That is why the game will use a public customized blockchain. The game will have permission elements and will allow node operation to the community. That way there the transactions will be faster and there will be no asset costs related to their processing.
Here is what the developers emphasized as the key requirements to achieve during project development:
· Issuing own digital assets within the game
· Support for programming and executing smart contracts
· Making it possible to process thousands of transactions each day
· Securing instant or fast validation of transactions
· Pruning technology
Another reason why the developers chose for the in-game currency to be an ERC20 token is that the crowd sale and trading processes will be more manageable and comfortable for players. The idea is simple — there is a PARSEC ERC20 token that you can trade or convert to the in-game PRSC token. You do the latter one by utilizing smart contracts. Once you have the valid in-game currency, you can utilize it for various transactions, such as building a spaceship.
You can also convert the customized blockchain token back into the PARSEC ERC20 token on Ethereum. By doing that, you can move the desired amount from the in-game wallet back to your specified Ethereum address. Once you do that, you are again allowed to trade the currency in crypto exchanges.
Planned Token Allocation
If you analyze the table for token allocation, you can conclude that the distribution is done in a smart way. A total amount of PRSC tokens that will be distributed is 30,856,775,800. More than half of it (60%) is reserved for pre-sale and crowd safe. The rest is spread according to the list:
· 14% Buffer to the foundation
· 10% Developers
· 10% Advisors
· 5% Bounty
· 1% Airdrop
There is a chance that some of the tokens will not be sold and the developers already announced that they will be burned. That is another smart decision as it will improve the value of the PRSC token, increase its scarcity and reduce the market cap.
Crowd Sale Information
The crowd sale will start on April 27th, 2018 at 14:00:00 UTC. The planned time for closing it is May 31st, 2018 at 23:59:59 UTC.
If you do the math, you can calculate that 16,103,862,002 PARSEC tokens will be available for purchase during the crowd sale. You can buy 1,300,000 PRSC in exchange for 1 ETH token. The minimum investment required to participate is set at 0.01 ETH. You will also have the chance to get a bonus depending on when you decide to participate in the crowd sale. The earlier you purchase PRSC tokens, the bigger your bonus. It can be as high as 30% or as low as 5%. You can find more details about the bonus structure here.
The developers set the soft cap at 2,500 ETH. That is the minimum they expect to be required to create the game. However, the more they collect the better the game will be. Hard cap for the crowd sale is set at 10,759 ETH. The developers are optimists and they believe that the soft cap will be reached. In case that doesn’t happen, all participants will have the option to get their ETH back.
When it comes to the countries that can participate, the crowd sale is open to residents of countries all over the world except Nepal, Morocco, Kyrgyzstan, Ecuador, Mainland China, Cambodia, Bolivia, Bangladesh, and Algeria. There is a special rule for the United States where only accredited investors will be accepted.
Keep in mind that KYC or Know Your Customer rule is in effect for Parsec Frontiers crowd sale, which means that you will need to verify your ID. The developers emphasize that they were forced to apply it so that they can comply with Counter-Terrorist Financing and Anti-Money Laundering policies across the world.
If you want to register for the crowd sale, you can do that by filling the form on the official website.
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Author : Maniecool
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