Now that we discovered PrivacySwap’s two features, you might be wondering what tokens I need to stake to start earning. So, this next episode of PrivacySwap 2.0 will cover PRVG and PRV2.
One of PrivacySwap’s notable features is the PRV. However, PrivacySwap upgraded it to provide a better farming experience and broaden its usage. Hence, they introduced two new tokens, PRVG and PRV2.
Before knowing the new use of PRVG and PRV2, let us first discover how PRV started and why PrivacySwap decided to replace the token.
History of PrivacySwap’s token
PRV has become so significant to PrivacySwap since its debut. PRV’s usage improved from being a token for yield farming, and it also became a gaming token on the “Hack-the-Vault.”
PRVarmy used PRV to stake on PrivacySwap’s high APR farms and gain passive income as a yield farming token. PRV gained recognition from the general public, and it slowly attracted investors to invest in the platform.
However, when the whole cryptocurrency market dipped, PRV wasn’t excluded. PRV’s price dipped down to almost USD 2. This concerns both PrivacySwap and its users. So, to address this, our developers announced great migration.
The birth of PRV2 and PRVG
Aside from addressing the current status of PRV, PrivacySwap also decided to change the token to introduce its dual token system.
“We figured out that one of the biggest moves we wanted to make was to pass on the ownership of PrivacySwap gradually to people who hold a governance token, which is why we moved to PRV2, which introduced a dual token structure.” PRV Admin
After many considerations and audits from the professionals, PrivacySwap released PRVG and PRV2.
PRVG and PRV2
PRVG, also known as “PRV Governance,” is the new PrivacySwap ecosystem’s ownership token. Its objective is to allow users to participate in the ownership of PrivacySwap. Essentially, when users stake PRVG, they will receive incentives in PRV2.
They will also receive a major share of deposit fees paid across the new PrivacySwap farms, as well as sales taxes made from PRV2. PRVG is in short supply and emits at a slow rate. When you HODL and stake PRVG, you become a PrivacySwap “community owner.”
PRV2 is inflationary with several deflationary measures in terms of sales taxes. We will convert these deflationary “taxes” into BUSD to distribute it to PRVG stakers instead of burning out of circulation.
Further, PRV2 has a fixed supply cap with high emissions.
PrivacySwap’s PRVG and PRV2 are now the tokens for staking so that you can earn passive income with PrivacySwap. Aside from that, staking at least 200 USD worth of PRVG can qualify you to buy PrivacyCard. These cards will ease your crypto to fiat transaction and more.
PRVG and PRV’s current prices are still low, so we recommend buying these tokens now so you can benefit from them once PrivacySwap transitions and becomes a DEX.
PrivacySwap also plans to move into a DEX to lower the gas fees imposed in every crypto transaction. In addition, Privacyswap DEX will also improve your staking experience. PRVG and PRV2 will be prioritized to convert their token holdings into PrivacySwap new token/s once the DEX is done.
Developers are working closely to finalize the DEX and to ensure its perfectness. The team announced that this DEX, along with PrivacyCards, will come this month, so make sure to stick with the platform’s social media accounts to get updates.
PrivacySwap’s PRV2 and PRVG are created to offer a better service to PRVarmy. Though PrivacySwap might again change the name, PrivacySwap ensures that these new tokens will surely bring more and passive income to its users. So, secure your slot by buying these tokens now.
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