Skip to main content

The Robonomics token is trading for $95,000 each on Uniswap

 Robonomics’ lifetime subscription token is trading for close to six-figures on Uniswap.


The highly-anticipated launch of Polkadot’s (DOT) mainnet has seen many smaller crypto assets associated with the project explode recently.

Both tokens of the distributed ledger technology (DLT)-powered robotics and Internet-of-Things (IoT) project Robonomics have been among those to surge alongside Polkadot, with the price of its utility token XRT increasing 10 times earlier this month.

However, Robonomics’ “lifetime subscription token,” Robonomics Web Services (RWS), has also posted massive gains — becoming the first crypto token to trade for more than $100,000 when it tagged $116,000 in recent weeks.

RWS’s extreme price owes to the token’s minute supply, with only 50 coins currently circulating from a maximum supply of just 100 tokens. While the first 50 tokens were distributed via the XRT/RWS pairing on Uniswap, the remaining coins have been “reserved for academia and non-profit organizations.”

Robonomics leverages blockchain technology to build open-source packages supporting robotics and smart cities. The RWS token comprises a “subscription model experiment” for the Robonomics network, with RWS guaranteeing lifetime transactional throughput to the holder.

Each token guarantees one transaction per second between the Robonomics Parachain and the token-holders’ IoT device, or 2.5 million transactions per month. Transactional throughput is also guaranteed to fractional RWS owners — with holders of 0.1 RWS gaining access to one transaction every 10 seconds, while owners of 0.001 RWS can execute a transaction once every 100 seconds, and so on.

RWS is currently trading exclusively on Uniswap, generating close to $350,000 in 24-hour volume. The token has a market cap of just $4.65 million, ranking it outside of the top 500 crypto assets by capitalization.

Robonomics describes the token as a “pioneers’ special offer,” noting that future token models will offer “other types of RWS tokens with monthly and other types of limitations.”

RWS is currently in alpha, with the token’s beta release scheduled for the fourth quarter of 2020. Despite 900% spikes earlier this month, Robonomics’ tokens have since retraced by roughly 20% to 25% from their all-time highs.

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

DeFi isn’t dead, it just needs to fix these 3 critical problems

It’s been a rough year for DeFi, and it may not get any better until projects focus more on security, regulation and usability. The persistent challenges  decentralized finance  face have been well documented by a handful of analysts and the recent collapse of the Terra ecosystem re-enforced the fact that something is critically wrong with DeFi. I think DeFi today is completely broken for 99% of the population. The promise of a more transparent financial system has been overtaken by greed. UST/LUNA is just the latest in a string of bad developments: — Peter Yang (@petergyang) May 11, 2022 Let's take a look at what experts say DeFi needs to do in order to have another revival.  Improved usability To date, the promise of open and uncensored access to a global decentralized financial system has been largely hampered by the complicated interface, confusing multi-step staking processes and lack of clarity surrounding the yields on various tokens. What do you thi...
Post a Comment
Read more

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community.  Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for  resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...
Post a Comment
Read more

Institutional demand for crypto isn’t subsiding, but impact will be gradual

As another $2-trillion stimulus package looms in the U.S., institutions will continue to look at BTC as a hedge against inflation. For example, just last week, when the currency was hovering around the $30,000 threshold, a whole host of pundits was warning investors to brace for impact, suggesting that the premier crypto asset was on the verge of a correction and could once again dip to around the $20,000 region. However, in just one day, Bitcoin was once again playing with the bulls, retesting the $38,500 limit, only to witness a selloff and eventually settle around the $33,500 region. While for most crypto veterans that might have been another day at the office, others branded the upsurge as “Elon’s Candle,” which relates to Elon Musk, the CEO of Tesla, who included “Bitcoin” in his Twitter bio as well as sent out the following cryptic message “in retrospect, it was inevitable” to his 40 million-odd followers online. Regardless of the cause, has the recent price volatility sca...
Post a Comment
Read more