ParrotCash (PCH) is a decentralized network reward token designed using the Simple Ledger Protocol (SLP) on the Bitcoin Cash (BCH) Blockchain. It is secure and has many use cases such as wager bets, earn, spend, tip and participate in ParrotCash proprietary gaming network.
Another intention behind ParrotCash is to be used to educate new users of crypto-assets and to give them an opportunity to see how easy and fun it is to be able to use digital currency. It combines the best of ease and fun along with the security of Bitcoin Cash Blockchain.
ParrotCash allows you to participate in the network along with an ever-growing list of SLP tokens. There would be multiple ways of earning PCH tokens, which include faucets, airdrops, referrals, affiliate and paid tasks. PCH tokens can then be used in various ways such as paying for membership of the community and gaming network, or voting in some community event, tipping other community members for adding value to the community such as sharing educational content about Bitcoin Cash etc.
As shown below, ParrotCash has a total supply of 500 million tokens. The release and unlock stage of these tokens is also shown below.
ParrotCash Token Matrix
|Blockchain development team||10%||50|
|Protocol Growth/Development fund||30%||150|
The 500 million tokens were created on December 1, 2020, and the minting baton was destroyed. This means there would be no more PCH tokens than 500 million minted on December 1, 2020. The Bitcoin Cash blockchain explorer can be used to verify the minting details.
These 500 million tokens were equally divided and stored in five wallet addresses, which require triple authentication for withdrawal. The Prelaunch event, due on February 21, 2021, would be the day 150 million tokens would be unlocked. In the above matrix, tokens reserved for Community incentives would be unlocked in the next two years, while the tokens reserved for Protocol growth and development would be unlocked in the next three years.
There is a 25% bonus in the first week, 15% bonus in the second week and a 10% bonus for buying in the third week. However, during the second and third week, you can also donate PCH using SPICE SLP tokens and receive the same amount of bonus. Also, you can donate SPICE within the first week but you only receive 15% for the first week spice bonus.
PCH would be using a flipstarter campaign. During the flipstarter campaign, anyone donating will receive ParrotCash at an equivalent rate of 0.1 Bitcoin Cash= 500,000 PCH Token, and he/she would also be eligible for a bonus without any cap on maximum or minimum. There is an additional 5% bonus for users utilizing flipstarter. There is an additional 5% bonus for large contributors donating PCH worth more than 0.2BCH.
In general, the people would send the PCH tokens on their online wallets. However, to hold the PCH tokens for long-term holding, you can also use SLP paper wallets which you can create in three different fun ways plus there is also the option to create your own unique paper wallet design. You can visit Paper wallet page, download the generator, secure their computer environment, and print a number of SLP paper wallets.
PCH is stored in SLP paper wallets, hence any SLP token other than PCH can also be saved in the same paper wallet. To spend the SLP tokens stored on the paper wallet, you will need an SLP compatible wallet that can sweep the SLP token’s private key.