Parex

Parex (PRX) is a token that is part of a larger ecosystem known as Parex. This ecosystem encompasses various products, including a wallet, exchange, app, swap, chain, web3, dApp, and more. The Parex Chain, upon which the ecosystem is built, is structured to be fast, efficient, and completely community-driven. All income collected on the chain is distributed back to the community.

As for the PRX token itself, it operates on the PEP-2 | PEP-20 protocol. It can only be produced through a mining mechanism, which involves burning PRX tokens. This approach serves as a supportive method for managing inflation within the ecosystem

The PRX token plays a key role in the functioning of the Parex ecosystem. It is used in the mining process where it gets burned to produce new tokens, contributing to the ecosystem's inflation management strategy. Beyond this, PRX is also instrumental in the Proof of Interoperability mechanism. This mechanism allows the PRX token to establish interoperable bridges with many networks, including Polygon, BEP20, Ethereum, Polkadot, Avax, etc. As such, PRX is an interoperable token in every network, facilitating inter-network transfers at low fees and swiftly through the Parex Market.