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PRT Airdrop for Governance

We have truly been feeling the energy over the last few weeks here at Portion.

The outreach and the support from our community has been electric, and we’re happy to announce that the first Airdrop reached over 2400 artists and collectors. We are committed to releasing the new platform to allow Artists from all over the world to connect and prosper.

Riding off of the last 2 years of specialized development after the launch of our Version I marketplace, we’ve been hyper-focused on Version II. A critical aspect of Version II incorporates the use of the PRT governance token. A minimum of 5,000 PRT, initially, will be necessary to make proposals and vote on platform updates. Airdrop II will fairly distribute 5,000 PRT to users around the world to sufficiently decentralize and nurture an egalitarian community.

Recently, it has come to our attention that the Airdrop has had a certain amount of individuals attempting to register multiple accounts to receive more tokens in a deceptive way. The Airdrop is limited to one per user, and creating fake twitter accounts and email addresses only disadvantages everyone in the community from receiving a fair allocation of the PRT governance token.

We would like to let everyone in the ecosystem know that we have employed technology that will allow us to see if users are attempting to game the system, and that your airdrop reward will be reduced to zero after being placed on a list of offenders.

It is unfortunate that this needs to be done, but is vital to ensure the integrity of our airdrop. As a governance token, there are privileges that come with being a holder, such as the right to vote on core issues within the community and technology.

As a result, the PRT token has significant importance to the lifeblood of the platform. It’s absolutely paramount to us that we ensure a fair and egalitarian distribution. There are a few misconceptions we would like to point out and address.

Is the 12-word mnemonic safe?

We also have received this question from select members of the community. The answer is YES.

Cryptography regarding any private information surrounding your seed keys is done client side, and the Portion team never has access to view private keys. Encryption protects your balance, and no member of the Portion team will ever ask you for your PRT tokens nor your Ether.

In Version I your 12–word seed was used to log in to the account. In Version II Your 12-word seed will be used for recovering your account. Both generate these keys on the client side, meaning nobody at Portion can ever know what they are. Make sure to make a backup!

Some understandably prefer to use wallets they have full control of. We have heard your call and will be incorporating Metamask into the Version II platform.

Become an owner of the protocol

The PRT governance Token aims to help increase liquidity and allow the transaction of Art and collectibles to transfer seamlessly on the platform. Token holders have the right to create proposals and vote on the future of the platform. This feature is live as of October 4th on https://snapshot.page/#/portion.

The intent of the Portion.io project is to provide transparency and light to an industry that is often plagued with inefficiencies caused by opaque business practices. With the accessibility of the internet culture comes a proliferation of Artists from all around the world who are vying to develop a voice and platform, and are craving the ability to sell and transact without digital pirating. Ever since Napster, Artists have worried about digital ownership, blockchain provides the ability to solve ownership through the wonders of cryptography.

When Artists and creators collide with patrons and buyers, every transaction on Portion is transparent and tracked. PRT is the lifeblood of the platform which enables us to reward users an amount depending on use. This amount would be capped every month, and the team is careful to calculate the indirect value from introducing more tokens into the ecosystem for long term growth. In terms of meta analysis, we hope voting on issues such as issuance, Artist grant funding, and tech updates will be something the community takes seriously as our self-governed Artist & Collector community matures over time.

PRT has recently been picked up by Coinmarketcap. Find it here: https://coinmarketcap.com/currencies/portion/. Exciting times ahead.



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Portion Staff

Portion Staff

Portion is the premier online marketplace connecting artists and collectors through Blockchain technology to easily sell, invest and own art and collectibles.