RMT Token and its Utilities in the RIME Protocol

RMT (RIME Token) is the native utility token of the RIME Protocol. This guide will explain the key functions of the RMT token and how it benefits the RIME ecosystem.

What is the RMT Token?

RMT is an ERC-20 compatible token on the Conflux Network. It serves as the backbone of the RIME Protocol, providing utility functions. The total supply of RMT tokens is 100 million.

Token Distribution

The RMT token distribution is as follows:

  • 0% for the team (embracing the true spirit of decentralization)
  • 50% for community and ecosystem rewards
  • 20% for liquidity and staking rewards
  • 30% reserved for future development

RMT Token Utilities

The RMT token has several use cases within the RIME ecosystem:

  1. Staking Rewards: Users can stake their RMT tokens to earn rewards generated from liquidations within the RIME Protocol. These rewards are distributed proportionally to the staked RMT tokens.
  2. Liquidity Provision: RMT tokens can be used to provide liquidity to decentralized exchanges, earning trading fees and additional rewards.

By offering staking rewards and facilitating liquidity provision, the RMT token serves as an essential component of the RIME ecosystem, benefiting both the protocol