RSD Token – A Smart Algorithmic Token Aimed at the DeFi Market
3 min read
Algorithmic tokens were created as a way to decorrelate the market price from BTC and other popular cryptocurrencies, controlling the value of the currency (and consequently its price) by automatically adjusting the available supply.
The existing solutions (AMPL, RMPL, Ditto, etc.) are elegant, but they react slowly to changes in the market. The RSD token (Reference System for DeFi token) was developed with that in mind.
The RSD token algorithm offers a completely autonomous mechanism based on reinforcement learning, and for dynamic control of supply and demand. This way, its market price becomes practically independent from other cryptocurrencies.
It works through an active mechanism that is executed with each transaction, causing small distortions in its value and opening opportunities for arbitration and other types of negotiation.
Thus, a transaction can charge a fee to reduce the money supply, or even use that fee to reward those involved in the transaction if the goal is to increase the total supply. The fee is variable and calculated by a smart agent implemented in the algorithm based on information such as the token’s average transaction volume and transaction history.
To encourage its use, the protocol also implements reward mechanisms for miners/validators for each recorded transaction. This way, the currency adds value to the system while it is being traded since miners and validators are fundamental players involved in the business and their rewards in the ETH network will be reduced with the arrival of EIP-1559.
In addition, random prizes are distributed to users on a regular basis. Given a random number of transactions, the protocol selects the address that initiated the next transaction to receive an amount of value stored in the contract, charged for each of the previous transactions since the last reward, as a prize for participating in the protocol.
The rewards aim not only to encourage the massive adoption of the currency, but also to stimulate the expansion of the market, since the total supply only expands in initial sales (crowdsale) or with staking incentives, both with limited time of existence.
The RSD token is currently available on the Binance Smart Chain and ETH networks at 0x61ed1c66239d29cc93c8597c6167159e8f69a823.
Additional information about the currency is found in the RSD whitepaper. Pre-sale is available directly through the official crowdsale page or by sending ETH/BNB directly to the token’s contract address.
The initial sale is available at a limited timeframe and will grant an additional 50% of the purchased amount, so take advantage of it before it ends! A portion of the sale will be used to provide initial liquidity in the market through top decentralized exchanges, such as PancakeSwap and Uniswap.
The other part will be invested in the project’s creative team and in the development of new related products. New staking mechanisms for the coin will be offered soon!
About us
Web page: https://rsd.cash
Telegram: https://t.me/rsdcash
Discord: https://discord.com/invite/7gKSkvA8nR
Twitter: https://twitter.com/systemdefi
Medium: https://apolosan.medium.com/reference-system-for-defi-e86342a650de
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