$PROPR token: everything we know before the TGE

The $PROPR token generation event (TGE) no longer has a date. The roadmap said August 24, 2026 — that was scrapped at the official AMA #2 (TLDR by @ProprFR, 12 Aug 2026). The TGE is now gated on two milestones: a $5M treasury reserve ($1M stated at the AMA) and 5 third-party integrations (MMT live, Lighter and Aster announced), targeted before end of 2026 — and Aug 24 did pass without a token (Hyperliquid spot API checked 28 Aug 2026: 495 spot tokens, no PROPR). The token will still launch on-chain as a spot token on Hyperliquid. Total supply is 1 billion, with 32.5% (325M) reserved for the airdrop to users and referrers. The seed round is 100% unlocked at TGE, and points farming continues — no snapshot has happened. I wrote the full breakdown of the new TGE conditions as its own article.

Disclosure: the Propr.xyz links below are affiliate links — they cost you nothing and get you 5% USDC cashback on your challenge fee, while helping fund these guides. Nothing here is financial advice.

What is the $PROPR token?

$PROPR is the native token of Propr — the crypto prop firm built natively on Hyperliquid, where challenges, funded accounts and payouts settle on-chain. The company behind it is Propr Limited, a BVI entity (registration 2211330) that is not regulated, so treat the token like any early-stage crypto asset — high upside, high uncertainty.

Two facts make $PROPR more than a points meme. First, the supply is fixed at 1,000,000,000 tokens — no inflation lever. Second, Propr's official points guide commits to a recurring revenue share: every Friday, 10% of revenue is distributed in $HYPE to the top weekly point holders (source: Propr, @ProprXYZ), which ties rewards to how much business the firm actually does. Whether that matters depends entirely on real volume, and I'm not going to pretend to know the future price.

You'll also see a claim on aggregators that 40% of revenue buys back and burns $PROPR. I'm keeping it out of the confirmed list on purpose: that 40%-burn figure is not confirmed by Propr's official channels, so I treat it as third-party reporting until Propr states it directly.

I'm not writing this as a spectator. I farm this airdrop myself and I've sat inside the top 15 of the points leaderboard, so the numbers below are the ones I'm personally betting weeks of challenge trading on. If you want the mechanics of earning points rather than the token itself, I break my routine down in how I farm $PROPR points.

Confirmed facts

Here's everything Propr has actually put on the record, with the source for each line. If a detail isn't in this table, assume it's still unannounced — I've kept speculation out on purpose.

Want to turn that allocation line into a dollar figure for your own stack? Run your points through the free $PROPR airdrop calculator — just remember the listing price is still an input nobody can fill in yet. For the allocations beyond the airdrop slice, see the $PROPR tokenomics breakdown.

What happens at the TGE (whenever the milestones land)

First, the change of regime, stated plainly: the roadmap's August 24, 2026 date was superseded at the 12 Aug 2026 AMA — Aug 24 came and went with no token (I checked the Hyperliquid spot API on 28 Aug 2026: 495 spot tokens, no PROPR). The TGE now fires when two milestones are hit — a $5M treasury reserve ($1M stated at the AMA) and 5 third-party integrations (MMT live, Lighter and Aster announced) — targeted before end of 2026. "Milestones reached = TGE." When it does fire, the token is generated on-chain and starts trading as a spot pair on Hyperliquid, and three things happen at roughly the same time:

• The airdrop unlocks. The 32.5% community allocation (325M $PROPR) is distributed to everyone who farmed points — users and referrers. The exact formula that converts your points into a token amount is Not yet announced, and so is the snapshot timing — no snapshot has happened yet, and there's no date to count down to anymore. I'm staying active until the milestones are hit rather than gambling on a date.
• The seed round unlocks in full. The $1.5M seed (raised at a $17.5M FDV) is 100% unlocked at TGE with no vesting. Be honest with yourself about what that means: early backers can move their tokens from day one. It's confirmed, it's public, and it's better to factor it in now than to be surprised by it later.
• The weekly revenue share keeps running. Per Propr's points guide, every Friday 10% of revenue is distributed in $HYPE to the top weekly point holders — that's live now and simply continues after the TGE. (A separate 40%-of-revenue $PROPR buyback-and-burn is cited by aggregators but not confirmed by Propr's official channels.)

What the TGE does not automatically hand us is the listing price or fully-diluted valuation. The $17.5M figure is the seed FDV — not a listing price — so anyone quoting you a launch valuation today is guessing. And if you're wondering what your points become once the token is live, that's its own question: I cover it in what happens to your points after the TGE.

How to position before the snapshot

Farming has been live since April 16, 2026 and the window continues until the milestones are hit — no snapshot has happened, nothing was lost on Aug 24. Every $1 of challenge fees is still 10 points. Points come from three levers:

• Challenges. 10 points for every $1 you spend on a challenge fee, pass or fail. Propr's challenge asks for a 10% profit target inside a 6% drawdown, so surviving the risk rules matters as much as the points do.
• Funded trading. Once funded, payouts settle in USDC on-chain (minimum $20, ~5 hours on average, 80% to you) and your activity keeps stacking points — you're farming while you work your edge.
• Referrals. You earn 20% of your referees' points plus 5% of their challenge revenue — the highest-leverage lever, and the one most people leave on the table.

You need a live account to farm any of this. If you're not set up yet, create your Propr.xyz account — it's wallet-only to start, and my link gets you 5% USDC cashback on the challenge fee.

My own approach is boring on purpose: I run challenges semi-auto so I stay active without revenge-trading an account to zero, because the last points before a snapshot tend to count as much as the first. If you're not sure you already qualify, I mapped out who's actually eligible for the airdrop, and the full farming playbook has my exact routine. To sanity-check what a stack might be worth, the airdrop calculator does the dilution math for you.

What we don't know yet

This is the honest part. As of today, the following are Not yet announced — this section will be updated as Propr confirms them:

• Listing price and FDV. The only public valuation is the $17.5M seed FDV, which is not a listing price.
• The exact snapshot date and time. We know farming runs until the milestone-gated TGE (targeted before end of 2026); we don't know the precise cut-off — and no snapshot has happened yet.
• The points-to-token conversion formula. We know 32.5% of supply is allocated; we don't know the exact math that maps your points to tokens.
• The rest of the tokenomics. Allocations for team, investors, liquidity and treasury beyond the 32.5% airdrop are Not yet announced.
• Additional listing venues. $PROPR launches on Hyperliquid; any other exchange listings are Not yet announced.

I refresh the "Last updated" line at the top every time one of these lands — bookmark this page if you're farming, because it's the one I keep current.

FAQ — $PROPR token & TGE

⚠️ Trading carries risk and nothing here is financial, legal or tax advice. $PROPR is an unlaunched, early-stage crypto token — an airdrop can be worth a lot, a little, or nothing. Every figure above comes from Propr's official channels and the sources cited in the table, and all of it (dates, allocations, the snapshot) can change before the TGE. Always verify on Propr's own pages before acting, and only trade what you can afford to lose.