To begin I just want to say I have not been paid to promote Parachute. This is simply a project which I think is attempting to do something lovely and I wanted to share an overview of what they do (or so I think) and how you can get involved.
This all started as recently I have been actively seeking and following airdrops, attempting to get involved with as many projects as possible. If you are not aware airdrops are when developers decide to distribute their tokens (usually ERC20) to the community and as a result, gain some free publicity in the process! They are a great way to earn some extra cryptocurrency free of charge whilst engaging with newly developing communities!
So, the main purpose of my post today is to share with you a new project which I have been following on Reddit the past two weeks called Parachute Token. Parachute aims to connect great projects with the correct people, allowing you to discover new tokens simply by following and engaging with the teams you like. The Parachute team believes that ‘the key to success for new crypto companies will be in creating community first and building trust with that community as a project of developers’.
What Is Parachute? (Taken directly from the Shortpaper)
- Parachute is a community engaged in helping early-stage companies gain exposure and build their initial community through organized airdrops on the Parachute platform
- Parachute is a platform to discover early stage crypto projects, receive airdropped tokens, and build a diverse community of engaged contributors
- Parachute exchange would allow tokens who’ve parachuted to our community to be actively traded via Parachute Token (PAR)
Value of the Token and The Platform
The Parachute team allows projects to apply to share their Airdrop with them, this allows them to review the submissions based on the quality of team, roadmap and various other details provided. All approved companies will then qualify for the Parachute Exchange.
The Parachute exchange will feature the tokens who airdrop and applied on the Parachute platform, the Parachute token (PAR) then acts as a currency of exchange, much like BNB to Binance. This gives PAR the potential to gain value from trading and from utility aspects such as rewarding freelance work or active users in the community.
Where do you fit in?
Well, to encourage people to participate they are launching an app which rewards members of the community! This means free tokens for everyone via airdrop!!! But seriously, this could work great. If it works, it will allow people to connect and be involved with early stage companies allowing them to follow their progress over crucial stages of development.
If you like what you’ve read so far then it’s time to get involved. Parachute are giving away 150MM (15%) of their tokens in airdrops and bounties as they aim to build their initial community (20000 PAR per person!)
Follow the links below to get involved!