Crypto Wizards AMA With PARA

Introduction:

Ans:The Para Ecosystem aims to disrupt the show and entertainment industry in a multi-dimensional way. It’s time to bring this industry into a new era. The blockchain era.

Especially in times of lockdowns and quarantines artists are looking into new ways of generating revenue. Especially in the music and entertainment industry this problem grows larger. This means that people with millions of followers have issues monetizing them.

Para wants to take this unique opportunity, create a new lucrative income source for influencers and entertainers and use the publicity to market the whole Para Ecosystem and especially the Ecosystem Token, the Para Token.

DONE

Ans:Paras unfair advantage lies in the way it will launch and go to the public. Due to heavy engagement in the German music industry, which has an audience of +50’000’000 people, by members of the founder team, Para could already secure deals with some of the most influential german speaking artists and athletes.

Ans:Our Team is the key factor to our success.
On the one hand, we have designers and programmers with longyear experience in the cryptospace and on the other hand, we are working with young people, that bring in visionairy ideas to the process.

Some of them studied blockchain in Switzerland.

The combination of long year experience and visionairy thinking leads is to a great usability and design.
DONE

Ans:There are no utilities in holding the Para Token, but we are constantly working on new ideas and maybe there will be something in the future.

Blockchain
The Para Token will go live on the Polygon Network which makes sure everyone can participate in NFT sales because of the low Gas Fees. The alternative would’ve been Ethereum but buying an NFT and paying the same amount just for Gas Fees might irritate new users which Para is also targeting.

The Para Token will have a maximum supply of 1’000’000’000 tokens.

Liquidity for Exchanges
50% of all tokens will be used to provide liquidity on Sushiswap. The 50% will be paired with $250’000 in WETH to ensure there is enough Liquidity for new users to get in. The LP tokens will be burned to eliminate the possibility of a rug pull.

Dev Team
10% of all tokens will go to the development team to fund the future development of the Para Ecosystem. The tokens will have a linear vesting period which will take 1 year to complete.

Reserve
20% of all tokens will be locked in a smart contract as reserves for later use like liquidity mining rewards or other mechanics which might come at a later point in time.

Marketing
20% of all tokens will be used for marketing. The reason why this pool is larger than the dev pool is because these tokens will be mostly given out to Influencers and Stars to motivate them to talk about the Para Ecosystem and especially about the Para token.

DONE

Ans:The Para NFT platform including the Para Token will go live in December.

* In a second step which will follow in Q1 2022 the Para Token can be used to access special giveaways connected to the NFT sales and eventually people will only be able to interact with the Para NFT Marketplace with the Para Token. With this strategy we slowly integrate the Para Token into the platform.

* Late Q1 22 - Start of Q2 22, Para will transform from a NFT sales platform for selected artists into a real marketplace. This increases the profit margin of the Para Ecosystem by 5% because there will no longer be a fee paid to Opensea. Additionally the Para Token will now also be used in the secondary market to pay for the NFTs. As soon as this feature goes live, users will be able to stake their Para Tokens and the 5% which now goes to the Ecosystem will be split among the Para Token stakers which adds an additional use-case for people to buy and hold their Para Tokens.

* Q2 22, the Para Team will use its extensive network to get the Para Token onboarded in various business related to music and entertainment as a payment method. This will increase the usability of the Token once more since it can from then on be used as a payment token.

* Late Q2 22 - Start of Q3 22, Para will open up for any artists to release NFTs. Additionally the category of NFTs will expand. Upcoming artists will be able to do fundraising to be able to afford studio sessions, superstars can sell unreleased tracks and videos as NFTs on Para and Influencers can sell access to exclusive content to their community through NFTs.

* Late Q3 22 - Start of Q4 22, Para starts going into the Metaverse. Concerts of Travis Scott and Ariana Grande on Fortnite showed that the world is ready for virtual concerts and shows. Facebook will take this a step further with their Metaverse announcement. The world is ready for real immersive Metaverse experiences and Para with its already big network of Stars and Influencers will be among the first to pioneer in this field. The Para Token will be used to purchase digital tickets to digital events which will happen way more frequently than ever before.

It took us like half a year to select the team and the stars working with us.

We are more, than happy and proud of what we accievd in this time.

Twitter Segment:

@mohamedgamaln48

Ans:The Para Token will have a maximum supply of 1’000’000’000 tokens.

50% of all tokens will be used to provide liquidity on Sushiswap. The 50% will be paired with $250’000 in WETH to ensure there is enough Liquidity for new users to get in. The LP tokens will be burned to eliminate the possibility of a rug pull.

@NatasaMalkova2

Ans:The Para Token is going to be used as a payment method in retail (Clubs, Bars, Events).
So we are building the bridge between the (till now) mostly online usecase of cryptcurrencies and the real world.

Today crypto investments are an integral part of most modern portfolios. Our investors and customers can use PARA as an investment for the future as the circulation and liquidity in the real world will steadily increase over time. By listing PARA on major exchanges, buying or selling will be very easy.

Because of our contacts to Artists and the Eventindustry, we are able to gate them into the blockchain world.

Where the stars go, the fans follow.

This means we are giving an easy access for milloins of newcomers to the cryptospace, which helps the whole industry.

@AbiVidhya2

Ans:There are certain parts of the roadmap, that need to be decided by our team, in order to guaranty a longterm success of the project.

But our main goal is, to make this project a community artwork.

The picture frame is set, but the Community decides, what they want to paint.

It will be able for tokenholders to launch their own NFTs on our Platform.

In addition, we are very close to both, the artists and the fans, which already brought some game changing ideas to the project.

We are always keeping up the communication with the community and are regularly discussing suggestions of them.

DONE

@tuan_iker

Ans:We have been audited by hacken.

The PARA smart contract has been deemed secure through a successful audit by Hacken after a rigorous and comprehensive assessment

Hacken is a leading cybersecurity consulting company with an essential focus on blockchain security. Hacken Cybersecurity Services is a part of Hacken Group, including CER.live, HackenAI, & HackenProof

Check Out The Audit Report Here:

https://drive.google.com/file/d/1NIOGg0tyAc9rm1g2cSuWO77uhzZg-a5i/view?usp=sharing

@SejanHosean2

Ans:The project is generating income by

1. Transaction fees incurred, when paying with para in retail
2. Initial NFT Sales

Revenue Model:

Initial NFT Sale
80% Star
20% Para

Secondary Market Split:
80% NFT holder
10% Star
10% Para

The 10% for Para will be split among PARA Token holders.

In Q2 2022 Para Tokenholders will be able to stake their tokens

Live Q&A:

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Ans:A

Ans:Ther is no Tokenburn or Buyback needed.

I know, that these things are hyping these days, but in my oppinion, you don`t need these things to make a token successful.

You can find out about our tokenomics in our whitepaper

Ans:You will be able to buy PARA tokens on Sushiswap and Quickswap.

The date of launch will be in december.

we will keep you updated

Ans:The problem, we are solving is a very uncommon and new problem for artists

In times of the corona pandemy, many stars are not able to perform on stage, so they have to find a new income surce , which in this case is NFT

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