{"id":"parex-network","title":"Parex Network","content":"**Parex Network**, founded in 2021, is a decentralized Layer 1 blockchain ecosystem centered on a [Decentralized Autonomous Organization (DAO)](https://iq.wiki/wiki/dao) framework. It features a native PEP-20 network and supports [Ethereum Virtual Machine (EVM)](https://iq.wiki/wiki/ethereum-virtual-machine-evm)-compatible wallets, enabling developers to create [decentralized applications (dApps)](https://iq.wiki/wiki/decentralized-application) while providing users with [staking](https://iq.wiki/wiki/staking) options and cross-chain functionality.  [[1]](#cite-id-Vpr9kCDfOA) [[6]](#cite-id-KSeKikmAFF)\n\n![](https://ipfs.everipedia.org/ipfs/QmPB1rG4RnUcZS7Sofz5T3949aBNSAUZoqrHYNa7Y4CJ7v)\n\n# Overview\n\nParex Network is defined by several key attributes, including its self-sovereign blockchain, which ensures robust security and validator reliability. Its on-chain governance structure fosters inclusive decision-making through a decentralized framework. [EVM](https://iq.wiki/wiki/ethereum-virtual-machine-evm) compatibility allows seamless integration with [Ethereum](https://iq.wiki/wiki/ethereum) tools, offering faster transaction finality and optimized fees. Additionally, cross-chain interoperability connects Parex with the Ethereum Mainnet and other blockchain ecosystems, broadening its functionality and reach.\n\nThe network features interoperability through its Proof of Interoperability mechanism, which enables seamless interaction with other blockchains like Ethereum, [Polygon](https://iq.wiki/wiki/polygon), [Polkadot](https://iq.wiki/wiki/polkadot), and [Avax](https://iq.wiki/wiki/avalanche-avax). Parex’s native token, PRX, is central to its ecosystem, generated through a [mining](https://iq.wiki/wiki/mining) process, and used for staking, network security, and cross-chain operations.\n\nParex Network is also committed to community-driven initiatives, promoting collaboration and trust-building among users, while offering diverse investment opportunities. The network’s adaptability is further demonstrated by its use of the PEP-2/PEP-20 protocol and its ongoing token burning mechanism, aimed at stabilizing the token’s value. [[2]](#cite-id-kSeSjDu38b)[[3]](#cite-id-aICQKj82Yz)[[7]](#cite-id-qZq1ez9uLR) [[8]](#cite-id-4jwiDRp4Gr)\n\n![](https://ipfs.everipedia.org/ipfs/QmYvYLk2cWJjjJuzCVp4QnEyVTrzGJxr3zEXaKttsGkgRp)\n\n# Key Features\n\n## Decentralized Exchange (DEX): RacoonSwap\n\nRaccoonSwap serves as Parex Network's [decentralized exchange](https://iq.wiki/wiki/decentralized-exchange), offering:\n- **Liquidity Pools:** Rewards for contributing liquidity.- **Token Swaps:** Secure and efficient token exchanges.- **Low Fees:** Cost-effective transaction structure. [[8]](#cite-id-4jwiDRp4Gr)\n![](https://ipfs.everipedia.org/ipfs/QmUBCg63b4jdEwBesoB65thRDPx8F79HRUH5tM31YihV99)\n\n## Proof of Asset-Based Consensus (PoABC)\n\nAn innovative mechanism combining [Proof of Stake (PoS)](https://iq.wiki/wiki/proof-of-stake) and [Proof of Authority (PoA)](https://iq.wiki/wiki/proof-of-authority) for:\n- **Decentralization:** Open participation for unlimited validators.- **Security:** Malicious activities deterred via slashing penalties.- **Efficiency:** Optimized block times and lower costs.\n## EVM Compatibility\n\nEthereum Virtual Machine support allows developers to deploy [smart contracts](https://iq.wiki/wiki/smart-contract) effortlessly, use familiar tools like Remix and Truffle, and integrate Ethereum-based applications seamlessly.\n\n## Cross-Chain Bridges\n\nParex Bridge enhances interoperability with [Binance](https://iq.wiki/wiki/binance) Smart Chain (BSC), providing:\n- **Asset Liquidity:** Access to broader [DeFi](https://iq.wiki/wiki/defi) opportunities.- **User Flexibility:** Simplified asset transfers and swaps. [[8]](#cite-id-4jwiDRp4Gr)\n# Ecosystem Applications of Parex Network\n\n**Staking:** Lock PRX tokens in smart contracts to earn hourly rewards and support network stability.\n\n**Parex Bridge:** Facilitate low-cost asset transfers between Parex and Binance Smart Chain (BSC) networks.\n\n**RaccoonSwap Info:** Access analytics and insights to make informed trading decisions.\n\n**Validator Program:** Run validator nodes to enhance network security and earn rewards.  [[9]](#cite-id-hMoYdsxuKh)\n\n# Tokenomics\n\n![](https://ipfs.everipedia.org/ipfs/QmaXM8hybYXJNs68qa6jvr8nsPM3EdzrkUp6e4VJWXhL4a)\n\n## Parex Network Token ($PRX)\n\nPRX is the native token of Parex Network, functioning similarly to ETH on Ethereum. It is used for various purposes within the network, such as paying gas fees for smart contract transactions, enabling cross-chain asset transfers (e.g., between Parex Chain and Ethereum), and securing the network through staking or delegation. The PRX supply was exclusively generated through [node](https://iq.wiki/wiki/node) mining, with no initial offerings such as [ICOs](https://iq.wiki/wiki/initial-coin-offering), IDOs, or presales. Additionally, the team and advisors have not been allocated any PRX tokens, ensuring that the entire circulating supply is produced and owned by the community. The network avoids pre-mined tokens and bulk unlocking schedules, reinforcing its commitment to fair and decentralized distribution. \n\n**Maximum Supply**: 77,000,000 PRX\n\n**No ICO/IDO or Presale**: PRX was not sold through any pre-sale or initial offering. The initial supply was generated via mining.\n\n**Team’s Share**: No PRX has been allocated to the team, advisors, or treasury.\n\n**Circulation**: All circulating PRX is owned by the community, and it is solely created through community mining efforts.  [[5]](#cite-id-kvsrRt8vUE)\n\n![](https://ipfs.everipedia.org/ipfs/QmWBYEECCpavZjAgCUmqwZbo4v38gWRc64fd4oPBXMBQmu)","summary":"Parex Network is a decentralized Web3 ecosystem utilizing a DAO framework, featuring on-chain governance, EVM compatibility, and a unique Proof of Interoperabil...","images":[{"id":"QmeqzKobBFZzM5nHJVNypMbvHPwcyiNfPVw2dHdkuk3SJk","type":"image/jpeg, image/png"}],"categories":[{"id":"defi","title":"DeFi"}],"tags":[{"id":"Ethereum"},{"id":"Polygon"},{"id":"BinanceSmartChain"}],"media":[{"id":"QmWBYEECCpavZjAgCUmqwZbo4v38gWRc64fd4oPBXMBQmu","size":null,"name":"image (1).webp","type":null,"source":"IPFS_IMG"},{"id":"QmaXM8hybYXJNs68qa6jvr8nsPM3EdzrkUp6e4VJWXhL4a","size":null,"name":"18094.png","type":null,"source":"IPFS_IMG"},{"id":"QmUBCg63b4jdEwBesoB65thRDPx8F79HRUH5tM31YihV99","size":null,"name":"unnamed.png","type":null,"source":"IPFS_IMG"},{"id":"QmYvYLk2cWJjjJuzCVp4QnEyVTrzGJxr3zEXaKttsGkgRp","name":"unnamed (1).png","source":"IPFS_IMG","thumbnail":"QmYvYLk2cWJjjJuzCVp4QnEyVTrzGJxr3zEXaKttsGkgRp","caption":""},{"id":"QmPB1rG4RnUcZS7Sofz5T3949aBNSAUZoqrHYNa7Y4CJ7v","name":"unnamed.jpg","source":"IPFS_IMG","thumbnail":"QmPB1rG4RnUcZS7Sofz5T3949aBNSAUZoqrHYNa7Y4CJ7v","caption":""}],"metadata":[{"id":"twitter_profile","value":"https://x.com/parexnetwork"},{"id":"website","value":"https://parex.network/"},{"id":"github_profile","value":"https://github.com/ParexChain"},{"id":"linkedin_profile","value":"https://www.linkedin.com/company/parexnetwork/"},{"id":"telegram_profile","value":"https://t.me/parexnetwork"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/parex"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/parex/"},{"id":"previous_cid","value":"Qme2NTuTQ2ucKBzUP2YBmXixkbEcCKNcgrPcffBwycMwWu"},{"id":"previous_cid","value":"Qme2NTuTQ2ucKBzUP2YBmXixkbEcCKNcgrPcffBwycMwWu"},{"id":"previous_cid","value":"Qme2NTuTQ2ucKBzUP2YBmXixkbEcCKNcgrPcffBwycMwWu"},{"id":"previous_cid","value":"Qme2NTuTQ2ucKBzUP2YBmXixkbEcCKNcgrPcffBwycMwWu"},{"id":"contract_url","value":"https://scan.parex.network/"},{"id":"previous_cid","value":"Qme2NTuTQ2ucKBzUP2YBmXixkbEcCKNcgrPcffBwycMwWu"},{"id":"references","value":"[{\"url\":\"https://medium.com/@parexnetwork/about\",\"description\":\"Medium: About Parex Network\",\"id\":\"Vpr9kCDfOA\",\"timestamp\":1736712670478},{\"url\":\"https://docs.parex.network/welcome/quick-start/parex-network-in-a-nutshell\",\"description\":\"Parex Network Docs\",\"id\":\"kSeSjDu38b\",\"timestamp\":1736713896744},{\"url\":\"https://coinmarketcap.com/currencies/parex/#About\",\"description\":\"CMC: Parex Network\",\"id\":\"aICQKj82Yz\",\"timestamp\":1736713915834},{\"url\":\"https://docs.parex.network/how-we-work/learn/about-parex-network\",\"description\":\"Parex Network Docs: About Parex Network\",\"id\":\"hYAnbwi5ly\",\"timestamp\":1736714339095},{\"url\":\"https://docs.parex.network/how-we-work/learn/about-parex-network/tokenomics\",\"description\":\"Parex Network Docs: Tokenomics\",\"id\":\"kvsrRt8vUE\",\"timestamp\":1736714630561},{\"url\":\"https://www.linkedin.com/company/parexnetwork/people/\",\"description\":\"Parex Network LinkedIn\",\"id\":\"KSeKikmAFF\",\"timestamp\":1736715104756},{\"url\":\"https://cryptobriefing.com/parex-network-advances-ecosystem-accessibility-through-verification-and-integration/\",\"description\":\"Crypto Briefing: 'Parex Network advances ecosystem accessibility through verification and integration'\",\"id\":\"qZq1ez9uLR\",\"timestamp\":1736715477514},{\"url\":\"https://medium.parex.network/2024-unwrapped-a55c646766ee\",\"description\":\"Medium: '2024 Unwrapped: Parex Network’s Journey'\",\"id\":\"4jwiDRp4Gr\",\"timestamp\":1737069654254},{\"url\":\"https://docs.parex.network/how-we-work/learn/parex-bridge\",\"description\":\"Parex Docs: Parex Bridge\",\"id\":\"hMoYdsxuKh\",\"timestamp\":1737070051168}]"},{"id":"commit-message","value":"edits"},{"id":"previous_cid","value":"Qme2NTuTQ2ucKBzUP2YBmXixkbEcCKNcgrPcffBwycMwWu"}],"events":[{"id":"SuLK0TBQKQ","date":"2022-02","title":"Launch","type":"DEFAULT","description":"Parex Network was launched in 2022 as a fully community-driven project. ","link":"","multiDateEnd":"","multiDateStart":""},{"id":"xwPro6lWdT","date":"2022-05","title":"DWF Labs","type":"DEFAULT","description":"Parex Network, a community-driven DAO and L1, raised US$ 3 million from DWF Labs. At the same time, Parex Network established a fruitful partnership with DWF, transferred its MarketMaker processes, and entered the DWF Labs portfolio.","link":"","multiDateEnd":"","multiDateStart":""},{"id":"pdoC3YYUy1","date":"2023-02","title":"Parex Network in Japan","type":"DEFAULT","description":"Parex Network's remarkable journey to expand its presence in Japan and the significant leadership transition marked a new chapter in its growth and innovation. Parex Network Headquarters moved to Japan.","link":"","multiDateEnd":"","multiDateStart":""},{"id":"ZNu2k7BNbM","date":"2023-04","title":"Mainnet Live","type":"DEFAULT","description":"Parex Network launched the mainnet by creating the genesis block. Officially, transactions and dApps are now running on Parex Network.","link":"","multiDateEnd":"","multiDateStart":""},{"id":"AgfEZZEBup","date":"2023-09","title":"Certik Audit","type":"DEFAULT","description":"Parex Network completed a comprehensive audit of its BSC token contract conducted by Certik.","link":"","multiDateEnd":"","multiDateStart":""},{"id":"UrM1ocajbl","date":"2023-11","title":"Coin Market Cap Verification","type":"DEFAULT","description":"Parex Network submitted an application for verification to CoinMarketCap, critical for enhancing the transparency and reliability of token information.","link":"","multiDateEnd":"","multiDateStart":""},{"id":"SNxr1o5Jxa","date":"2023-12","title":"PEP-20 Network Goes Live","type":"DEFAULT","description":"PEP-20 goes live and Parex Network integrates into exchanges.","link":"","multiDateEnd":"","multiDateStart":""}],"user":{"id":"0x4a2bC97afBF41a2Cbf4b4628F63420682Ff4CF2a"},"author":{"id":"0x4a2bC97afBF41a2Cbf4b4628F63420682Ff4CF2a"},"language":"en","version":1,"linkedWikis":{"blockchains":[],"founders":[],"speakers":[]}}