PARSIQ, the acclaimed analytics platform for the blockchain industry, is in its transition to Reactive Network, advancing the evolution of smart contract automation. Following the conclusion of the testnet phase, Reactive will become live on the mainnet and the migration of $PRQ tokens to $REACT will begin.
Reactive’s testnet, named Kopli, witnessed impressive growth, onboarding 437 developers and processing around 2.7 million transactions. With its mainnet launch, participants can begin deploying smart contracts and unlock real-time automation. Also, they can earn rewards by engaging with the staking pools.
What is a Reactive Network?
Pioneered by PARSIQ, the Reactive Network allows the automation of smart contracts and eliminates the need for off-chain computation through its innovative “Inversion of Control (IoC)” framework. It enhances interoperability and contributes to the growth of the entire web3 industry. The native token of the network is $REACT, to which the previous $PRQ will be bridged.
Key Features of Reactive Network
Unlike PARSIQ, the Reactive Network has incorporated advanced automation, interoperability, and AI-powered applications. Let’s delve into the complete details.
- Reactive Smart Contracts: The smart contract will be executed automatically according to the events. The platform itself is called the first event-driven automated execution layer.
- Cross-Chain Automation: Cross-Chain transactions usually create scalability risks such as latency and complexity. Reactive solves this to an extent by automating the cross-chain transaction processes.
- AI Integration: The automation is materialized by the integration of artificial intelligence. Also, the platform supports AI-driven decentralized applications (dApps).
- High-Performance Execution (ReactVM): The platform can deploy multiple smart contracts instantly through its multi-threaded smart contract execution layer.
- Deflationary Token Model: Unlike $PRQ, we can witness the regular burning of $REACT tokens. The gas fees and the event-log processing fees will be burned. This will potentially increase the demand and the value in the future.
How Does the PRQ to REACT Migration Work?
PRQ will be migrated to REACT in a 1:1 ratio. The centralized exchanges (CEXs) will conduct the migration separately. All the CEX holders’ token migration will be handled by the respective exchanges. The self-custody wallets should manually bridge their tokens. Here is a guide to the process:
- Visit the official website of Reactive and navigate to the token portal, which will go live at the time of the mainnet launch.
- Connect the wallet that hodls the PRQ token through the “Connect Wallet” option. Approve the connection request from your wallet provider.
- Enter your desired amount and tap “Confirm” to ignite the bridge. Pay a small gas fee (ETH/BNB) to finalize the transaction. REACT will be delivered to your wallet instantly.
$REACT’s Launch, TGE, & Listing Dates
Reactive Network’s mainnet is scheduled to go live on February 25th, 2025. On the same day, the PRQ to REACT migration will begin and the staking program will start. The centralized exchanges (CESXs) bridging schedule and the listing will be announced separately.
How to Stake REACT to Earn Rewards?
After the launch, users holding REACT can stake it to secure the network and earn the validator rewards. The rewards can be redeemed during the first epoch in small allocations. Users can deposit their REACT tokens into the staking contract which will issue the staking tokens in return. The reward is determined by multiplying the amount of REACT contributed by the number of remaining blocks until the end of the staking epoch.
Final Thoughts
Reactive Network seems like a platform that can have a significant influence on the blockchain industry. The PARSIQ’s metamorphosis into REACT will likely create a demand for the token in the near future. If you plan to invest in the token, try to HODL it for the long term to receive a decent fortune.
