PROS Prosper

Overview of Prosper

Prosper is a decentralized protocol that bridges institutional-grade Bitcoin mining power on-chain. It aims to unlock the full potential of the Bitcoin network by providing hashrate-backed tokens representing live Bitcoin mining power.

Key Features

• Hashrate-Backed: Prosper's token foundation directly owns the underlying hashrate backing the token supply, working with leading industry partners to procure and manage that hashrate for holders' benefits.
• Community-Driven: Token holders shape the future of the ecosystem by voting, contributing ideas, and engaging in open discussions.
• Sustainable Strategy: Prosper employs a sustainable flywheel strategy for long-term growth, using institutional-grade hashrate to produce Bitcoin, reward the community, and accrue to the foundation treasury to increase protocol resilience.
• Accessibility: The protocol is designed to be easy to access for both holders and builders, who can utilize composable tokens to create innovative use cases.

How It Works

• Bitcoin Miners: Prosper's token foundation owns mining hardware, either through direct purchase or mining partner contributions, and contracts with service providers to maintain and operate these miners.
• Live Hashrate: Partnering with established mining pool providers reduces production variance and improves hardware performance monitoring.
• Token Foundation: The foundation ensures that it always owns corresponding amounts of miners and live hashrate, with a hashrate-per-token ratio to be finalized at full launch.

Participation

• Getting PROS Tokens: Tokens can be purchased from open markets like Binance, Gate.io, and MEXC.
• Staking and Voting: Holders can participate in community discussions, vote on protocol proposals, and stake tokens to receive Bitcoin rewards.
• Cross-Pollination: Users can engage with partner projects through campaigns and quests, contributing to the broader Bitcoin ecosystem.
• Building and Engaging: Holders can create innovative use cases with native tokens and engage with other community members through social channels.

Pros of Prosper

• Decentralized and Community-Driven: Prosper is a decentralized protocol that aims to bridge institutional-grade Bitcoin mining power on-chain. It is community-driven, allowing token holders to shape the future of the ecosystem through voting and contributing ideas.
• Hashrate-Backed: Prosper's token foundation directly owns the underlying hashrate backing the token supply, ensuring a stable and reliable source of mining power.
• Accessible: Prosper is designed to be easy to access for both holders and builders, who can utilize composable tokens to create innovative use cases.
• Sustainable: Prosper employs a sustainable flywheel strategy that rewards the decentralized community for active participation and accrues to the foundation treasury to increase protocol resilience.

Cons of Prosper

• Complexity: The concept of hashrate-backed tokens and the integration with Bitcoin mining might be complex for some users to understand, potentially limiting adoption.
• Dependence on Bitcoin: Prosper's value and functionality are closely tied to the performance and stability of the Bitcoin network, which can be volatile.
• Limited Use Cases: Prosper's focus on Bitcoin mining and hashrate might limit its use cases compared to other cryptocurrencies with broader applications.
• Market Competition: Prosper operates in a competitive market with other cryptocurrencies and mining-related projects, which could impact its market share and value.

Founders of Prosper

The founders of Prosper are not clearly identified in the context of the provided website (https://www.prosper-fi.com) within the search results. However, based on the information available:

• Note on Different Entities: There are two distinct entities mentioned in the search results: one is an Amsterdam-based fintech company named Prosper, and the other is a decentralized protocol for Bitcoin mining also named Prosper. The founders mentioned in the search results are associated with the Amsterdam-based fintech company, not the decentralized protocol.

• Founders of Amsterdam-Based Prosper: Randy Vanenburg (CEO), Thomas van der Voort (CTO), and Dajana Nozic (CCO) founded the Amsterdam-based Prosper in 2022. These individuals have backgrounds in product design, technology, and financial crime/regulatory compliance.

• Founders of the Decentralized Protocol Prosper: The search results do not provide specific information on the founders of the decentralized protocol Prosper mentioned in and .

Investors in Prosper

• Key Investors: Prosper has secured investments from notable industry players and financial investors, including Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol.
• Additional Support: Animoca Brands has also disclosed plans to purchase $PROS tokens from the open market, further demonstrating confidence in Prosper's vision.
• Strategic Partnerships: These investments and partnerships bring valuable industry expertise and networks, supporting Prosper's expansion and operational scaling.

Halal Status of Prosper

Answer: Yes

Reason: Prosper can be considered halal because it does not facilitate betting or gambling activities, and users own actual tokens that can be used for platform governance and access to services. This aligns with Islamic finance principles that emphasize possession and effective storage (Mal) and commercial value (Mutaqawwam). However, it is always recommended for Muslim investors to consult with knowledgeable Islamic scholars to ensure their activities align with Shariah principles.

Key Considerations for Halal Status

• Possession and Storage (Mal): Cryptocurrencies like Prosper meet the criteria of being possessed and stored.
• Commercial Value (Mutaqawwam): Prosper tokens have commercial value and can be used for governance and services.
• Absence of Interest (Riba): Cryptocurrency transactions do not involve interest, aligning with Islamic finance principles.
• Absence of Gambling (Maysir): Prosper does not facilitate betting or gambling activities.
• Regulatory Compliance: Adherence to Islamic principles and guidelines is crucial for halal status.