What is Patricia Token (PTK)?

Nigerian Startup Patricia has launched what they call the future of seamless trading. The company recently announced on their Social media handles that they are launching their own crypto token called Patricia Token (PTK).


https://www.instagram.com/p/CwFtR01MLQB/?igshid=MmU2YjMzNjRlOQ==



Patricia Token is a crypto token that, according to Patricia backed by the United States Dollar. The startup announced that all outstanding BTC and Naira balances will be recorded in Patricia Token.

A Possible Exit Strategy?

The announcement of Patricia Token (PTK) was seen by many as Patricia preparing an exit strategy, due to Patricia's announcement of a hack a few months ago in which they lost about $2 million(though some sources claim that the hack happened as far back as January 2022). Some of Patricia's followers accused the crypto exchange of trying to abscond with their money as the users of the app are still unable to withdraw their funds. Some users also asked why their consent wasn't sought after before turning their money into Patricia Tokens.

Backed by the USD?

Patricia claims that the Patricia Token(PTK), is backed by the US Dollar, but what exactly does this mean? This means that the token is what is known as a stablecoin, more specifically, a fiat-collateralized stablecoin. This means that the Patricia Token has a reserve of fiat currency(e.g Usd) to serve as collateral assuring the Patricia Token's value. Examples of popular stable coins that a backed by Usd reserves are Tether(USDT) and TrueUSD(TUSD)

Our Predictions

We predict that as soon as Patricia users are given access to the withdrawal of their funds, they will be quick to exchange their Patricia Tokens for fiat currency.

We do not think that Patricia Token will become a staple for payments or exchange of funds.


Written by: Fizzy

Have they returned people money they froze some months ago?

That small boy bought a Tesla with peoples funds and locked them away from withdrawing they claimed they got hacked.

Paystack:
Have they returned people money they froze some months ago?

That small boy bought a Tesla with peoples funds and locked them away from withdrawing they claimed they got hacked.

It's a yahoo boy company. This is the final exit plan for them

tensazangetsu20:


It's a yahoo boy company. This is the final exit plan for them

It's very easy to launder money using that platform.

tensazangetsu20:


It's a yahoo boy company. This is the final exit plan for them

Are you serious Cos na same thing Racksterli do ooo although that one na Like MMM sha