Dubai, United Arab Emirates, December 13, 2024, Chainwire
Prosper, a decentralized protocol that democratizes access to mining by tokenizing institutional-grade Bitcoin hashrate as Omnichain Real World Assets (RWA), today acquired over 7,000 ASIC miners from BITMAIN, Announced the successful completion of a strategic funding round.
Backed by Metalpha, Waterdrip Capital, BIT, Animoca Brands and more, Prosper procures a new ASIC miner from BITMAIN, bringing institutional-grade execution quality to its protocol Prosper leverages the underlying Bitcoin hashrate capabilities We aim to accelerate the DAO flywheel by extending . Following Prosper's announcement, we have entered into a long-term partnership and hosting services agreement with BITMAIN, the world's leading manufacturer of digital currency mining servers, to own the hash rate and Bitcoin financial operations and democratize access to institutional-level mining. This landmark acquisition marks a significant step in Prosper's mission to provide institutional-grade reliability to the mining ecosystem. By leveraging BITMAIN's cutting-edge products, Prosper increases the value offered to $PROS token holders and further positions itself as the premier Web3 Bitcoin mining protocol backed by industry leaders. “Bitcoin has brought fundamental changes to finance by democratizing the economic system” using blockchain technology throughout. Prosper follows in the footsteps of Bitcoin's core ethos by democratizing access to the Bitcoin hashrate, the fundamental layer that powers Bitcoin through blockchain technology. This layer of community governance and ownership provided by blockchain allows Prosper to extend the flywheel of both Bitcoin's hash rate and financial operations, while also allowing Bitcoin's status as the most recognized digital reserve currency. It helps ensure that Bitcoin's mining layer is sufficiently decentralized to maintain ” said Milton Lamb, Prosper Advisory Board Member. Prosper’s Latest Developments 1 EH/s hashrate raised and fully ready to go live (Prosper’s dApp already has 250 PH/s running) with mid-term plans to add another 5 EH/s Access to 170MW of pipeline capacity with target Rewards of 2 BTC or more Granted to $PROS holders from November 200 BTC Closing of strategic round unlocking TVL opportunities to $PROS holders where launch partners will delegate access to DAO: Strengthening the Bitcoin ecosystem
In addition to the BITMAIN partnership, Prosper announced the closing of a strategic funding round with participation from prominent industry players and financial investors including Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. In early October, Animoca Brands also announced its intention to purchase $PROS tokens from the open market.
These investments demonstrate strong confidence in Prosper's vision of bridging institutional-grade Bitcoin mining power on-chain and innovative approach to Bitcoin liquidity farming. The involvement of these strategic partners brings significant industry expertise and networks to support Prosper's scale of operations.
Successfully positioning for growth
Prosper’s tokenomics employs a unique design that ensures that the hashrate per token only increases and increases for $PROS holders. Prosper’s DAO leverages a unique flywheel model for both hashrate and Bitcoin treasury operations, all managed by and for the benefit of $PROS holders. . The institutional-level hashrate continuously generates Bitcoin, a portion of which is rewarded to holders for active participation, and the remainder goes to the DAO's treasury. The DAO's treasury Bitcoin can be channeled into TVL opportunities with ecosystem partners such as Bitcoin L2 to generate profits. For $PROS holders and DAOs. The increasing financial value of DAOs and the adoption of $PROS will allow the protocol to further expand its underlying functionality. The combination of institutional-grade Bitcoin mining hashrate, decentralized protocol design backed by strong fundamentals, and extensive network of strategic partners solidifies Prosper’s position as the leading decentralized Bitcoin mining protocol. We are in a good position to make something of it.
About Prosper
Prosper is a decentralized protocol for a community that truly believes in Bitcoin, making full disclosure of the Bitcoin hashrate and Bitcoin as a whole by tokenizing institutional-grade Bitcoin hashrate as Omnichain RWA. We aim to deliver the full potential of Bitcoin. For more information, visit prosper-fi.com or follow X (formerly Twitter).
Contact Prospercontact@prosper-fi.com
This article was originally published on Chainwire
