Prosper [OLD]Price

(PROS)

Prosper is a Web3 project that recently underwent a significant brand and technical transformation. The label OLD attached to the PROS token refers to the project's legacy token contracts on the Ethereum and BNB Smart Chain networks. This designation was introduced following a protocol upgrade approved by the community to transition from the original infrastructure to a new omnichain token powered by LayerZero technology. The project originally launched as a decentralized short-term prediction market platform. In this initial model, users could participate in non-custodial prediction pools to forecast the price movements of various digital assets. The platform used smart contracts to automate results and distribute rewards, aiming to provide a transparent and accessible alternative to traditional forecasting tools. It also featured unique mechanisms like prediction insurance to help users manage risks. Recently, Prosper announced a major strategic shift in its core business model. The project is moving away from being solely a prediction platform to becoming an on-chain computing power farm. This new direction focuses on bridging institutional-grade Bitcoin mining capabilities directly onto the blockchain. By tokenizing mining hash rates, Prosper aims to allow community participation in the Bitcoin mining ecosystem and provide a new layer of liquidity for computing power. This strategy includes a plan to accumulate Bitcoin within the protocol's treasury, modeled after corporate treasury strategies that treat Bitcoin as a primary reserve asset. In January 2025, the project initiated a token migration process to support this new phase. Holders of the legacy PROS tokens were encouraged to swap them on a one-to-one basis for the upgraded omnichain version. Major centralized exchanges and self-custodial wallets supported this transition to ensure holders could move their assets to the new contract. The upgrade is intended to enable better scalability and deeper integration with the wider Bitcoin and Web3 ecosystems. The project continues to be supported by notable industry partners and remains active on multiple blockchain networks, including Ethereum, BNB Smart Chain, and Polygon. Its long-term vision is to serve as a decentralized bridge between traditional hardware-intensive mining operations and the decentralized finance world, creating a unique intersection of physical computing power and on-chain utility. Learn more

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