The transition from $PRQ to $REACT is a major milestone for the Reactive Network ecosystem, and we’re excited to announce that Gate.io will facilitate this migration for all PRQ holders on its exchange.

This migration marks the full integration of the REACT token, which now serves as the native utility asset of Reactive Network—powering transactions, validator staking, event log processing, and cross-chain automation.

If you are currently holding PRQ on Gate.io, here’s everything you need to know about the migration, including key dates, token details, and what to expect next.

Key Migration Details

• Deposits and withdrawals of PRQ will be paused on Gate.io at 8am UTC on 23rd February.
• Gate.io will automatically convert all PRQ balances to Wrapped REACT (ERC-20) at a 1:1 ratio.
• Once migration is complete, trading for PRQ will be replaced with REACT trading pairs.
• PRQ tokens held on Gate.io will be withdrawn and transferred to the Reactive Network bridge.

After the migration, REACT tokens will be available for trading, withdrawals, and deposits on Gate.io.

✅ No action is required from Gate.io users. The process is fully automated.

What is Reactive Network?

Reactive Network is a decentralized execution layer for event-driven smart contracts, enabling real-time, automated workflows across multiple blockchains. Built to address the limitations of traditional smart contracts, Reactive introduces Reactive Smart Contracts (RSCs)—a new model where contracts observe, process, and react to blockchain events autonomously.

Unlike traditional smart contracts, which require manual execution or external triggers, Reactive Smart Contracts enable fully on-chain automation—allowing DeFi protocols, AI-driven applications, and cross-chain workflows to function without off-chain dependencies.

Why This Matters:

• AI-powered dApps can now integrate directly with Web3, responding to real-time blockchain events.
• DeFi automation is now possible without relying on external keepers or off-chain execution.
• Cross-chain dApps can react to on-chain activity across multiple blockchains, without the need for centralized relayers.

With EVM compatibility and cross-chain support, Reactive Network is designed to power the next evolution of blockchain automation.

What is REACT?

The REACT token is the native utility token of Reactive Network, replacing PRQ as the ecosystem’s core asset. On Gate.io, users will receive Wrapped REACT (ERC-20) tokens, which maintain compatibility with Ethereum-based exchanges and DeFi applications.

• Gas Fees: Used for transaction execution and smart contract operations.
• Validator Staking & Rewards: Staked by validators to secure the network and earn rewards.
• Event Log Processing Fees: Required for processing event-driven smart contracts.

Tokenomics & Supply

• 1:1 Swap Ratio: All PRQ tokens will be converted to REACT at a 1:1 ratio.
• Total Supply: 500 million REACT, the same as PRQ’s original supply.
• Circulating Supply: Initially capped at 310,256,872 REACT.
• Fair Launch: No VC allocations, ensuring a community-driven token economy.

What Happens Next?

February 21, 2025 (by 08:00 UTC)

• Margin & Collateral Lending Closure: Gate.io will close new margin and collateral lending for PARSIQ Token (PRQ) before 08:00 UTC.

February 22, 2025 (at 08:00 UTC)

• Contract Trading Market Adjustment: The PRQ/USDT contract trading market will switch to a position reduction-only mode at 08:00 UTC.
  Action: Adjust your trading strategy if you are active in the contract market.

February 23, 2025 (by 08:00 UTC)

• Automatic Contract Settlement:
  • At 08:00 UTC, Gate.io will settle contract positions based on the average index price calculated half an hour earlier (i.e., at 07:30 UTC).
  • Any unfulfilled orders will be automatically cancelled.
    Action: Close your positions before 08:00 UTC if you wish to avoid automatic settlement.
• Service Suspension:
  • Deposit, withdrawal, and trading services for PARSIQ Token (PRQ) will be suspended at 08:00 UTC.
  • This includes the PRQ/USDT spot trading pair, quantitative grid trading, Yubibao, and margin trading.
• Quantitative Trading Strategies: Any active quantitative trading strategies will be forced to stop before 08:00 UTC.
  Action: Adjust or complete your strategies in advance.
• Yubibao Asset Redemption: Assets in Yubibao can be redeemed manually before 08:00 UTC, or they will be automatically redeemed.
• Outstanding Margin Loans: If you have any PRQ loans in the margin trading market, repay them before 08:00 UTC; otherwise, they will be automatically settled and repaid.

What Should PRQ Holders Do?

If your PRQ tokens are held on Gate.io, you don’t need to take any action—the migration will be processed automatically by the exchange.

If you hold PRQ in a private wallet, you can migrate your tokens manually via the official PRQ-to-REACT swap bridge (TBA).

Final Thoughts: A New Era for Reactive Network

The PRQ to REACT migration marks a major step forward for Reactive Network’s evolution, aligning its token economy with its next-generation smart contract infrastructure.

With Gate.io supporting the migration, users can seamlessly transition into the new REACT-powered ecosystem, unlocking new opportunities for DeFi, AI automation, cross-chain workflows, and beyond.

Thank you for being part of this journey—we’re just getting started.

About Reactive Network

The Reactive Network, pioneered by PARSIQ, ushers in a new wave of blockchain innovation through its Reactive Smart Contracts (RSCs). These advanced contracts can autonomously execute based on specific on-chain events, eliminating the need for off-chain computation and heralding a seamless cross-chain ecosystem vital for Web3’s growth. 

Central to this breakthrough is the Inversion of Control (IoC) framework, which redefines smart contracts and decentralized applications (DApps) by imbuing them with unparalleled autonomy, efficiency, and interactivity. By marrying RSCs with IoC, Reactive Network is setting the stage for a transformative blockchain era, characterized by enhanced interoperability and the robust, user-friendly foundation Web3 demands.

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