An open letter to the PRüF Community:
Hello, PRüF community!
As we prepare for our first listing, I would like to remind everyone of some essential facts about PRüF.
PRüF is a next-generation tokenization protocol designed to enable entirely new types of customer participation in physical and digital goods while delivering an enterprise-grade tokenization solution that will stand the test of time.
Enabling simple, brand-centric tokenization to creators and manufacturers, PRüF also solves the many problems and weaknesses of current NFT protocols, which have resulted in millions of losses due to fraud and theft in the past year alone.
The PRUF token is an integral part of the PRüF ecosystem. In the PRüF DAO logic, Token holders and node operators collaborate to create and vote on DAO issues, and Node holders incentivize token holders to stake votes on their nodes in proportion to node revenue. As creators, manufacturers, and other users build out PRüF nodes, the PRüF DAO will enable these stakeholders, as well as token holders, to jointly participate in community management and curation of a vibrant and prosperous ecosystem.
The PRUF token will be used to operate business functions within the PRüF ecosystem, including creating nodes and performing tasks within the system such as adding or changing metadata, entering into business logic such as escrows or marketplace listings, and more. The pricing for these functions is determined by independent Node operators, creating a truly decentralized, permissionless system.
We look forward to the coming years as the ecosystem continues to grow, thanks to the efforts of real businesses operating nodes and to members of the PRüF community such as yourselves. When you want to be sure, ask for PRüF!
We would also like to inform the community that the PRüF team will be deferring the fractional unlock of team tokens (originally slated to start in 2022) until a later time, to be announced soon, but at least six months into the future. None of the team tokens will be sold concurrently to listing.
As the team, we are deeply invested in the long-term success and prosperity of the PRüF ecosystem and have every intention to be sure that our years of hard work and innovation bring a completely new system of tokenization to the market, one that finally delivers on the promise of blockchain assets — trustless value guarantees, permanent availability, and enterprise-class integrity.
That said, it is important to remind everyone that PRUF is a utility token, similar to physical tokens used to operate laundries or other automated systems. Though the market ultimately decides the value of tokens, PRUF is not an investment vehicle, and PRüF Protocol / Decentralized Machines makes no warranty or guarantee as to the price performance of the token, up or down. PRUF tokens should be purchased for their utility and use within the PRüF ecosystem and not as a vehicle for price speculation.
While there are systems that token holders can participate in to increase the number of tokens they hold, such as EO staking, this does not imply an increase in token valuation. Therefore, we offer this gentle reminder to our community to purchase only those tokens they need for their uses and to evaluate the value of PRUF based on its utility to themselves within the ecosystem.
Thank you again to our supporters and our community. We look forward to bringing amazing things to you in the months and years ahead.
Sincerely, Clifford Smyth
CEO PRüF Protocol
