Propel - Does a Metaverse Toolbox Matter?

19 Jan 2022
Previews

Welcome back to another amazing Discovery of the Day, MSQ fam! MarketSquare recently moved into its Open Beta, meaning you can sign up for a profile and explore all the site has to offer. From Monday to Friday, we bring you some of the best projects from across the cryptosphere. Whether it’s NFTs, the Metaverse, or Blockchain games, you’ll find it all right here on MarketSquare! Today we’re taking a closer look at…Propel!

To Innovate Is Human

The use of tools predates the emergence of our earliest ancestors and is considered to have been essential to our evolution. What appears to be earlier iterations of the stone hand axe have been found to have existed as far back as several million years ago. Australopithecus Afarensis is believed to have carved animal carcasses; their hands were well suited for the controlled manipulation of objects. Even today, our primate cousins are often observed using tools to dig, probe soil and trees for insects, groom themselves, defend against attackers, and even communicate with one another.

And while these primitive examples bear little resemblance to the tools of today, this serves as a reminder of how critical and transformative the mastery of tools has been to humankind. Tools aren’t only a reflection of our technological innovations over the millennia; they are the very things that have driven our evolution from the stone age all the way through to the modern era.

Lower Palaeolithic Acheulean Handaxe
(dated approx. 500,000 - 300,000 years ago)
source: Wikimedia Commons

Propelling Ourselves Forward

We inherently cannot know what the next step in our evolution will be, but the emergence of the Digital Age has shown us that our social and financial infrastructures are due for innovation. The world has changed, and new tools are needed. Today, we take a closer look at Propel , a plug-n-play development toolkit enabling the rapid deployment of a variety of digital infrastructures and services, including:

  • Metaverse as a Service (MaaS)
  • DeFi as a Service (DaaS), and
  • Staking as a Service (SaaS)

All the more impressive is that this toolkit is chain-agnostic, meaning it can be used across dozens of networks, including Bitcoin, Ethereum, and Solana. Propel’s source code is also fully audited, something any serious project should never go without.

View the Propel Whitepaper here

Metaverse as a Service (MaaS)

A metaverse wide detonation is on the way. Hence, Propel introduced Metaverse as a Service (MaaS) to enable projects to get started quickly and free developers from having to start from scratch. The Blockchain plugins required to establish a metaverse environment are included in MaaS.

Smart Verse Contracts fuel automated verification, negotiation, resolution, and performance. The metaverse is based on smart contracts interconnected with each other through the logic of creation and the functionality they are used for where users are able to own and control their digital identities.

GameFi uses Propel’s $PEL token for player transactions; investors may also buy NFTs in-game and resell them on the secondary market as their value rises. This also allows for the creation and disbursement of raffle tickets and NFT Battle fusing, where users can burn multiple NFTs to mint new ones.

NFT Utilities enable renting NFTs (re-NFT) where lenders can earn passive income; fractional NFTs (f-NFT), which are essentially fractionalized versions of a traditional NFT; as well as staking NFTs (s-NFT).

In combination, these serve as the Core Metaverse toolkit; Propel’s complete, configurable, and secure solution for integrating the ERC standards into a project, saving precious development time.

DeFi as a Service (DaaS)

A plug-n-play DeFi solution for new and existing projects to spin up custom DeFi smart contracts such as cross-chain bridges, LP Staking, Token creation, Multisig wallets, Vesting contracts, and Investor dashboards.

Cross-chain Bridges are a white-labeled DeFi solution that helps projects set up bridges across multiple supported ecosystems, including Ethereum, Polygon, BSC, and other Layer2 chains.

Custom Solutions - Each project is unique; therefore, Propel develops customized solutions to meet clients’ needs and help them achieve maximum ROI and exposure.

The Investor Dashboard module is a customizable interface for Blockchain projects to design token sale campaigns and manage tokenomics as per their configured vesting schedule.

Staking / LP Staking is a module supporting single-asset staking and LP staking from multiple popular AMMs like Uniswap and PancakeSwap.

Visit the Propel App here

Staking as a Service (SaaS)

The Propel pool provides a way to reward users for staking single assets, LP tokens, and traditional tokens. Through Propel pool, users can earn passive income and allow projects to increase the demand for their tokens.

Single Asset Staking where users can deposit a token and are rewarded proportionally according to the magnitude of their staked amount.

LP Staking allows users to deposit LP tokens (token pairs) and are rewarded with tokens proportional to the size of their staked amount.

Time Capped Staking offers whale protection; a user will be allowed maximum tokens capping for a certain period of time to have fair participation.

Basket Rewards where users deposit a given token and are rewarded with multiple different tokens proportionate to the size of their staked amount.

$PEL Token

$PEL is Propel’s native governance token. Staking, reward sharing through providing liquidity to or safeguarding the protocol, as well as governance procedures, will all use $PEL as the fundamental utility token across a portfolio of Propel products.

$PEL, which may be utilized to engage in platform governance, is earned by actual participation in protocol operations and maintenance. This technique enables ecosystem alignment by creating a fair incentivization model and allowing for community-driven governance. $PEL contains features such as:

  • Staking - Users can stake $PEL to earn rewards and participate in Launchpools;
  • Governance - Where users can signal their intention to make platform decisions via $PEL native token governance, and
  • Deflation via Platform Growth - As Propel grows, $PEL is retained and acquired for B2B deals

Additional $PEL Token Metrics:

So Does This Matter?

Some see things like Crypto, NFTs, and the Metaverse as passing fads, but the same was said for the internet, the radio, and even the printing press itself. And while Gutenberg could never have foreseen Blogs and Blockchains, his invention undeniably shaped the future of communications and commerce. What’s beyond the horizon is often hard to imagine, but the tools of today drive the innovations of tomorrow.

So does a Metaverse toolbox really matter? I’d argue that it does. If there’s anything our world needs, it’s a new way forward. And what better way than by making our digital infrastructures more tangible and accessible to all?

Be sure to follow Propel on Twitter and visit their blog on Medium to keep up on the latest news and developments. If you’re code-savvy, you can also take a deeper dive via the Propel GitHub .

Thanks again for stopping by, MarketSquarians. There’s plenty to look forward to this year, and we hope to see you right back here as we continue to bring you the latest and greatest in NFTs, Blockchain gaming, the metaverse and more! And don’t forget to create your profile on MarketSquare, the New Homepage for the Decentralized Web! Catch ya later!


Join the MarketSquare Discord and participate in weekly and holiday events when they become available! Make sure you join our growing NFT community so you can stay on top of news, the latest drops, and everything non-fungible.

Simon is a developer and writer for ARK.io. When he isn't busy programming microcontrollers, documenting Blockchain software, and saving the world from centralization, he enjoys creating music and exploring the latest technological trends.
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