Reactive Network Reveals Mainnet Launch Date—Will $PRQ Holders Benefit?

The Ethereum Virtual Machine (EVM)-compatible blockchain platform, Reactive Network, has announced the official date for its mainnet launch. While this is a significant milestone for the new chain, the launch raises questions about the fate of market participants holding PRQ, the native token of PARSIQ, the blockchain from which Reactive Network is transitioning.

According to an official announcement, the Reactive Network mainnet will go live on February 25. This will end the ecosystem’s testnet, Kopli, which processed more than 2.7 million transactions and 1.19 million blocks in its ten months of operation. Kopli also onboarded more than 437 developers and launched about 74 decentralized applications (dApps).

Transitioning From PARSIQ to Reactive Network

PARSIQ enables users and developers to track and access Web3 data in real-time. The connectivity layer, launched in 2021, offers blockchain analytics tools, allowing users to unlock new application use cases and react to events of interest across multiple networks.

The token contract for PRQ went live on Ethereum in 2019. It served as PARSIQ’s native asset until a few months ago when the team behind the project began making plans to transition into a more enhanced ecosystem. The aim is to turn PARSIQ from a blockchain data indexing and automation network into an ecosystem that introduces the next evolution of smart contract automation to Web3.

React Network has been created as an interoperable execution layer that empowers developers to build the next generation of dApps. The chain enables the creation of event-driven smart contracts, artificial intelligence-powered dApps, and cross-chain automation. The React Network team said developers can deploy Reactive Smart Contracts after the mainnet launch.

“After running for almost 10 months with over 3.5M transactions, 182M origin events processed and dozens of innovative dApps and use cases tested and deployed, our Open Testnet has taught us a lot and provided valuable insight to make Reactive Mainnet more efficient, stable and scalable,” the team stated on X.

What is The Fate of PRQ Holders?

The native token of React Network is REACT; this means users holding PRQ will have to migrate their funds to REACT. This token migration will commence on the day of the mainnet launch, allowing all PRQ holders to swap their assets for REACT for 1:1.

Although the token migration process will begin on the mainnet launch date, it may take a while for centralized exchanges (CEXs) supporting PRQ and REACT to announce their migration timelines separately. The React network team said the token migration will remain open until further notice, with no deadlines to accommodate all CEXs and their timelines. Most exchanges will fully automate the migration process. PRQ holders using self-custody wallets must visit the official swap interface to exchange their tokens for native or wrapped REACT.

Noteworthily, staking services for REACT will be available at the mainnet launch, allowing holders to earn validator rewards. The team will provide more details on the program’s duration and expected returns in the coming days.

In addition, PARSIQ’s swapping interface on BNB Chain will no longer be available from February 18, so PRQ holders on the network will wait till React Network’s mainnet launch to swap their assets for REACT.

Meanwhile, data from CoinMarketCap shows PRQ trading at $0.234 at the time of writing, after an impressive 30% gain in the last 24 hours. REACT may pick up steam and rally like PRQ when the mainnet goes live.

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