Name: Purr
Brand: Purr
SKU: PURR
Price: 0.22 USD
Availability: InStock

Question 1

What is Purr (PURR)?

Accepted Answer

Purr (PURR) is the first token launched on the Hyperliquid Layer 1 blockchain. It is a deflationary cryptocurrency with a maximum supply of 1 billion tokens. Half of the total supply (500 million) was distributed proportionally to points holders, while 400 million were burned. Trading fees paid in PURR are burned, reducing the circulating supply over time.

Question 2

What differentiates Purr (PURR) from other tokens?

Accepted Answer

Purr (PURR) differentiates itself as the first spot launch on the Hyperliquid Layer 1 blockchain with no initial sale and no planned upcoming utility, making it a market-driven asset. Additionally, its deflationary mechanism burns trading fees paid in PURR, which reduces total supply and can affect scarcity. This burn model and its launch structure set PURR apart from other tokens.

Question 3

What is the utility of Purr (PURR)?

Accepted Answer

PURR does not have any planned utility as of now. It is primarily a market-driven token used for trading on exchanges that support it, such as Hyperliquid and KuCoin. Its deflationary nature comes from burning trading fees paid in PURR, which influences token supply over time but does not correspond to a specific functional utility.

Question 4

What consensus mechanism does Purr (PURR) use?

Accepted Answer

The cryptocurrency Purr (PURR) is launched on the Hyperliquid Layer 1 blockchain, but there is no specific information provided about its consensus mechanism in the supporting documents.

Question 5

Who created Purr and why?

Accepted Answer

PURR was created by the team behind Hyperliquid Labs, a group experienced in quantitative trading and blockchain development. It was designed as the first token launched on Hyperliquid's Layer 1 blockchain, without a planned utility or token sale, making it a market-driven asset.

Question 6

When was the Purr (PURR) token created?

Accepted Answer

The PURR token was launched in mid-March 2024 on the Hyperliquid Layer 1 blockchain.

Question 7

How do I use the Purr (PURR) token?

Accepted Answer

PURR is a deflationary token used primarily for trading on exchanges such as KuCoin and Hyperliquid. Trading fees paid in PURR are burned, reducing the supply over time. There is no planned utility for PURR beyond trading, and you can hold, trade, or convert PURR on supported cryptocurrency exchanges.

Question 8

Where do I buy the Purr (PURR) token?

Accepted Answer

You can buy the cryptocurrency Purr (PURR) token on centralized exchanges such as KuCoin and Hyperliquid. To purchase PURR on KuCoin, create an account, verify your identity, deposit funds, and start trading. PURR is available on spot markets for trading on these platforms.

Question 9

What problem or need does Purr aim to address?

Accepted Answer

Purr (PURR) aims to be a market-driven, deflationary asset on the Hyperliquid Layer 1 blockchain. It does not have a planned utility or token sale. PURR addresses the need for a native token on Hyperliquid's blockchain that is deflationary, as trading fees paid in PURR are burned to reduce supply over time, potentially increasing scarcity.

Question 10

How was the Purr (PURR) token generated?

Accepted Answer

The Purr (PURR) token was launched as the first spot token on the Hyperliquid Layer 1 blockchain. Its maximum supply was set at 1 billion tokens. Out of these, 500 million PURR were distributed proportionally to points holders, while 400 million PURR initially deployed as Hyperliquidity (HIP-2) were burned. This deflationary mechanism continues as trading fees paid in PURR are burned.

Question 11

What is the Purr (PURR) transaction speed and scalability?

Accepted Answer

PURR is the first token launched on the Hyperliquid Layer 1 blockchain, known as Hyperliquid L1. While the exact transaction speed and scalability details are not explicitly stated, being a native token on a dedicated Layer 1 blockchain implies design for efficient and scalable on-chain transactions. Hyperliquid L1 supports native spot trading and permissionless liquidity provision, suggesting that the network is built with scalability in mind to handle such activities.

Question 12

Is Purr (PURR) environmentally friendly in terms of energy consumption?

Accepted Answer

PURR operates on the Hyperliquid Layer 1 blockchain. Although the documents do not provide explicit information on the energy consumption or environmental impact of PURR or the Hyperliquid blockchain, Layer 1 blockchains in general vary in energy use depending on their consensus mechanism. No specific data on environmental friendliness or energy efficiency is provided in the supporting documents.

Question 13

What is the governance model for Purr (PURR)?

Accepted Answer

The governance model for PURR is not detailed in the available information. The documents state that PURR has no planned utility or token sale and is deflationary through a mechanism where trading fees paid in PURR are burned. However, there is no mention of a formal governance structure or community voting mechanisms.

Question 14

What are the long-term goals and vision for Purr?

Accepted Answer

The long-term vision for PURR involves establishing itself as the first token on the Hyperliquid Layer 1 blockchain, a platform aiming to offer advanced features such as a native token standard (HIP-1), native spot trading, and permissionless liquidity provision. PURR is designed as a deflationary, market-driven asset without planned utility or token sales, with its supply decreasing through burned trading fees, suggesting a focus on value appreciation through scarcity and ecosystem development.

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Market Stats

What is Purr (PURR)?

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Purr Price

Top up and invest in seconds!

Market Stats

What is Purr (PURR)?

What differentiates Purr (PURR) from other tokens?

What is the utility of Purr (PURR)?

What consensus mechanism does Purr (PURR) use?

Who created Purr and why?

When was the Purr (PURR) token created?

How do I use the Purr (PURR) token?

Where do I buy the Purr (PURR) token?

What problem or need does Purr aim to address?

How was the Purr (PURR) token generated?

What is the Purr (PURR) transaction speed and scalability?

Is Purr (PURR) environmentally friendly in terms of energy consumption?

What is the governance model for Purr (PURR)?

What are the long-term goals and vision for Purr?

SwissBorg Indicators

Technical Analysis

Exclusive tools

Automate your investment today!

Receive notifications when Purr reaches certain prices

Begin your Borger Journey today with the SwissBorg app!

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