Prosper is a decentralized protocol that democratizes Bitcoin mining by tokenizing institutional-grade Bitcoin computing power as a real-world asset (RWA) on-chain. Today, Prosper announced the acquisition of over 7,000 ASIC miners from BITMAIN and successfully completed its strategic financing.
With the support of several institutions, including Metalpha, Waterdrip Capital, BIT Mining, and Animoca Brands, Prosper has procured new ASIC miners from BITMAIN, introducing institutional-grade execution quality to its protocol.
Prosper aims to expand its underlying Bitcoin computing power capacity, accelerate the flywheel effect of computing power and Bitcoin asset pool operations owned by the DAO, while achieving democratized access to institutional-grade mining.
Following the announcement of a long-term partnership and custody service agreement with global leading digital currency miner BITMAIN, this landmark procurement is a key step for Prosper in providing institutional-grade reliability to the mining ecosystem. By leveraging BITMAIN's cutting-edge products, Prosper enhances value delivery to PROS token holders while further solidifying its position as a leading Web3 Bitcoin mining protocol, gaining the support of top industry players.
Milton Lam, a member of Prosper's advisory board, stated, 'Bitcoin has achieved comprehensive democratization of economic systems through blockchain technology, bringing fundamental changes to the financial sector. Prosper inherits the footsteps of Bitcoin's core philosophy, democratizing the underlying power of Bitcoin computing through blockchain technology. The community governance and ownership layer empowered by blockchain not only allows Prosper to achieve flywheel-like expansion in Bitcoin computing power and asset pool operations but also helps ensure that the Bitcoin mining layer is sufficiently decentralized to maintain Bitcoin's status as the most recognized digital reserve currency.'
Latest developments of Prosper
· A computing power of 1 EH/s has been procured and is ready for full launch (currently, 250 PH/s is already operating on Prosper's dApp).
· With a pipeline capacity of 170MW, the goal is to increase computing power by 5 EH/s in the medium term.
· Since November, over 2 BTC rewards have been distributed to PROS holders.
· Support of over 200 BTC has been obtained, which will be allocated by partners to the DAO to unlock TVL opportunities for PROS holders.
Strategic financing completed: Strengthening the Bitcoin ecosystem
In addition to partnering with BITMAIN, Prosper has also announced the completion of strategic financing, which attracted several well-known industry participants and financial investors, including Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. In October of this year, Animoca Brands also indicated plans to purchase PROS tokens from the public market.
These investments demonstrate the industry's high recognition of Prosper's vision, which aims to bring institutional-grade Bitcoin computing power on-chain and expand the ecosystem through innovative Bitcoin liquidity mining models. The involvement of strategic partners provides Prosper with critical industry expertise and network support, aiding its steady progress during the expansion process.
Supporting Prosper's growth
· Prosper's token economic model is uniquely designed to ensure that the computing power corresponding to each token only increases, bringing value-added benefits to PROS holders.
· Prosper's DAO leverages a unique flywheel model that combines computing power with Bitcoin treasury operations, governed by PROS holders and serving their interests.
· Institutional-grade computing power continuously generates Bitcoin, part of which is distributed as rewards to actively participating holders, while the remaining portion is deposited into the DAO treasury.
· The Bitcoin in the DAO treasury can be used for TVL opportunities with ecosystem partners (such as Bitcoin L2), thereby creating revenue for PROS holders and the DAO.
· As the value of the DAO treasury and the adoption rate of PROS increase, the protocol can further expand its underlying computing power and enhance the protocol's risk resistance.
By combining institutional-grade Bitcoin mining computing power, a decentralized protocol design supported by strong fundamentals, and a wide network of strategic partners, Prosper is well-positioned to solidify its status as the flagship decentralized Bitcoin mining protocol.
About Prosper
Prosper is a decentralized protocol dedicated to providing comprehensive Bitcoin computing power and access opportunities to communities that truly believe in Bitcoin. By tokenizing institutional-grade Bitcoin computing power as a real-world asset (RWA) on-chain, Prosper aims to fully unleash Bitcoin's potential. For more information, users can visit the official website or follow the X platform.
This article comes from a submission and does not represent BlockBeats' views.
