PARADPrice

(PRD)

PARAD addresses the inefficiencies and lack of security prevalent in traditional cheque and promissory note transactions. By leveraging blockchain technology, it seeks to transform these financial instruments, making them significantly more secure, faster, and transparent. This approach reduces the reliance on outdated paper-based systems, thereby mitigating common issues such as fraud, manual processing delays, and limited accessibility.

The PRD token serves multiple key functions within the PARAD ecosystem. Users can utilize PRD for various activities, including engaging in yield-earning opportunities on platforms like LBank, and potentially facilitating payments. Furthermore, PRD acts as the foundational token for the Parad Decentralized Autonomous Organization (DAO), granting its holders the ability to participate in governance processes and contribute to critical project decision-making.

The total supply of the PRD token is definitively capped at 500 million units. Regarding its circulating supply, available information indicates some variation; some sources suggest approximately 28 million PRD are currently in circulation, while other reports state that the circulating supply is presently zero. This aspect of the tokenomics is fundamental to understanding the token's distribution and scarcity within the ecosystem.

PARAD ensures robust security and transparency by constructing its platform on a decentralized blockchain infrastructure. It implements mandatory Know Your Customer (KYC) verification for all users, which is essential for establishing trust and accountability within the system. Additionally, the platform extensively utilizes smart contracts, which automatically execute and enforce transaction terms, thereby minimizing potential for human error and significantly enhancing the integrity of digital financial instruments.

Blockchain technology is indispensable to PARAD's mission because it provides the essential decentralized and immutable ledger required for managing secure and transparent transactions. It enables the robust implementation of smart contracts for automated, trustless execution and utilizes NFT technology for the unique digital representation of financial instruments like cheques and promissory notes. This technological foundation allows PARAD to transcend the limitations of traditional, centralized financial systems.

PARAD leverages core Web3 technologies to achieve its digitization goals for financial instruments. It primarily utilizes smart contracts to automate and securely manage the terms and execution of cheque and promissory note transactions. Furthermore, it employs NFT (Non-Fungible Token) technology to create unique, verifiable digital representations of these financial instruments, ensuring their authenticity, traceability, and secure management on the blockchain network.