The crypto space has seen its share of challenges, from limited access for regular users to a lack of transparency in many ICOs.
At EarnPark, we are committed to addressing these issues with the launch of the PARK token, a token designed to create a more equitable and user-centric investment opportunity.
In a recent Token Talks interview, Eugene Netso, Managing Partner at EarnPark, shared insights into the PARK token, its purpose, utility, and what the future holds.
Whether you are a longtime investor or new to the space, this token represents a step toward building a more inclusive crypto ecosystem.
Why are we launching the PARK token?
Over the years, we have observed some significant challenges in the crypto and ICO space. Historically, many ICOs have struggled with issues like lack of transparency and limited access for everyday users.
A lot of projects have managed to attract substantial funds but, unfortunately, failed to deliver on their promises. What is more, regular users often find themselves at a disadvantage – by the time they get the chance to buy into a token, the large funds and big players have already made their profits and moved on.
With the PARK token, we’re aiming to change that narrative. We are launching this token to address these very challenges head-on. Our mission is to create an investment opportunity that’s transparent, accessible, and genuinely user-centric. We want to make sure that our users are not just latecomers picking up the scraps but are actually part of the journey right from the start.
EarnPark initially did not plan to launch a token, as our platform was functioning well without one. However, after introducing the swap functionality, the demand for a token from our users grew significantly, making it one of the most requested features.
By involving our community early, we are looking to boost liquidity in a way that benefits everyone involved. We are focusing on expanding our user base by giving people early access, which helps us grow together. This approach fuels our development and ensures that users are not left as mere exit liquidity for large funds.
In essence, we are committed to building a more equitable ecosystem. We believe that by aligning our goals with the needs of our users, we can foster a platform where everyone has the opportunity to benefit. It is about creating a win-win situation – where the growth of the business directly contributes to the rewards our users receive. We are excited about what the PARK token represents and can’t wait to have our community join us on this journey.
What can users expect from the utility of the PARK token?
PARK token is designed to offer value to everyone involved.
For businesses, it plays several key roles:
- It boosts liquidity through token mining, which helps ensure steady growth. It also aids in bringing in new users, enhancing our marketing efforts and expanding our community. The token fuels our overall growth by providing resources for product development and expansion.
- The token will also play a vital role for us in testing new features. For instance, it will be used to trial innovations like token locks and multi-currency reward payouts, specifically within our staking strategies. This kind of functionality requires a sophisticated, multi-layered approach, and PARK token will be essential in helping us ensure seamless execution as we expand these capabilities.
For users, the benefits are quite exciting:
- Early participants can earn higher yields through token mining, giving you more rewards right from the start.
- You can also save on fees – there will be up to 30% discounts when using PARK tokens for paying fees, which can make a real difference over time.
- In addition to fee savings, PARK token holders will have access to unique high-yield strategies, where liquidity is limited. Being part of the early access group means you benefit from the business’s growth as it happens, rather than coming in later when others have already taken a share.
- And importantly, token holders can participate in governance, having a say in key company decisions and truly becoming part of our community.
In essence, the PARK token is about creating a more inclusive and rewarding ecosystem. We are aiming to align our growth with the needs and interests of our users, ensuring that everyone has the opportunity to benefit as we move forward together.
Can you explain the tokenomics behind the PARK token?
Total supply: 1B PARK tokens.
- 36% is dedicated to community incentives. This includes mechanisms like token mining, yield boosting, staking, and more. By rewarding our community, we are fostering active participation and ensuring steady liquidity, which will drive both platform and token growth.
- 25% of the tokens are reserved for investors. This portion is critical as it provides us with the resources necessary to further develop the platform and grow our Total Value Locked (TVL).
- 20% is allocated to the team. Our team plays a crucial role in ensuring the platform’s success, from developing new features to maintaining overall performance.
- 10% of the tokens will be kept in treasury, which allows for future growth opportunities. This reserve may be used for further fundraising or supporting loans and liquidity solutions that we plan to introduce later.
- 3% of the tokens will be used to support the platform's compliance with global regulations and improve corporate relations – they are allocated to platform partners, including legal advisors, PR teams and other project supporters.
- 6% is for liquidity pools and market-making, ensuring that there is sufficient liquidity to support smooth trading and reduce volatility.
What advantages does the PARK token offer compared to other investment opportunities?
We aim to provide early access to all users, not just large funds. This means that participants can benefit from the project’s growth right from the start. Our liquidity mining program will also reward users for their contributions to the platform. We are committed to building a transparent and rewarding experience for everyone involved, ensuring that users are recognized for their support and contributions.
What’s the roadmap for the PARK token?
Our roadmap is adaptable and designed to respond to the results of the token sale. While we have ambitious plans for growth, the next steps will be shaped by the success of the token sale, ensuring we allocate resources in the most effective way to drive platform development and community engagement. We will begin with the token sale and focus on building a strong community. As we move forward, our main priority will be the gradual introduction of utility features for the token, focusing primarily on boosting returns for users.
In the coming year, we plan to proceed with a token listing, which will drive liquidity and expand our reach. Since we’re qualified market makers, we’re confident this will give us an advantage during the listing process.
Afterwards, we will shift our focus to integrating our financial records onto the blockchain. Even though the platform remains centralized at the current stage, we are committed to ensuring transparency. We plan to introduce a hashing mechanism for our accounting records, where both the current data and the previous hash will be written to the blockchain. This approach will allow users to verify the state of our financials at any point, ensuring maximum transparency.
PARK Token will also serve as part of our loyalty program, where users who actively participate in marketing and community activities will earn rewards.
We will be sharing more detailed information about our roadmap soon, so please stay tuned for updates.
The PARK token is more than just another cryptocurrency – it is a gateway to a more inclusive and transparent investment ecosystem.
We are thrilled to have our community involved from the beginning and looking forward to sharing more updates as we move forward.
Stay tuned for the release of our whitepaper and make sure to check out our EarnPark Manifesto, which outlines our mission and core values.