Introducing Rand Token | RND

In our earlier introduction of project Rand, we explained how the average user can use our platform to start winning money even without prior knowledge or experience with cryptocurrency.

While our mobile gaming app caters to users with possibly zero exposure to crypto, Rand is also issuing our own Rand token to provide extra benefits to Rand supporters holding our token.

What is a Token?

Tokens are a form of digital currency issued on a blockchain, otherwise known as cryptocurrency. There are different token types, one of them being utility token.

A utility token has a wider functionality than a coin. Beyond a store of cash value, utility tokens have other in-built programmable functions that provide value to token investors.

Utility tokens can have many functions, as determined by their token issuers. They can give token holders exclusive access to a product, service or system, or serve special functions specific to its network such as mode of transactional fee.

What is a Rand Token?

Rand token, also known as ‘RND’, is a utility token native to the Rand ecosystem built on the Kusama, but interoperable with other directly bridged blockchains such as Polkadot or Ethereum.

While Rand supports fiat for front-end operations and other existing cryptocurrencies (BTC, ETH and stablecoins) for its back-end yield strategies, our RND token serves multiple key functions for the Rand network and stakeholders.

Aside from serving as the main mode for transactional fees, RND also allows its token holders extra staking benefits, participation rights in governance and other Kusama / Polkadot network activities such as acting collators. RND will also be available for secondary trading on crypto exchanges.

Key Rand Token Benefits

Platform Membership

RND token holders will be able to access the Rand platform and other features beyond the prize pool gaming interface itself.

Sustained Recurring Rewards

RND token holders have the opportunity to earn extra monetary rewards regularly from the Rand Liquidity Piñata. For every single party (pool) that our users create, a percentage of the total yield accrued by the party goes into the Rand Liquidity Piñata, which will explode at a random timing at least once per month. When it explodes, all its contained funds will be distributed to RND token holders, and the percentage of reward is proportional to the number of RND tokens the user holds on the Rand app.

Governance Participation

RND token holders can qualify to participate in network governance activities that influence the Rand platform and its future direction. Rand’s governance model is designed to achieve an adaptive network based on the needs of its community. RND token holders can propose referendums for voting, as well as hold the power to vote to pass or fail a referendum.

Extra Staking Benefits

Rand’s back-end software recognizes any given token holder’s engagement level, and will qualify active longer-term token holders seniority of staking should a need arise, which will impact user profitability.

In addition, only RND token holders will be able to earn extra tokens when they share their Rand user experience on social media.

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For any questions about Rand or the crypto space, join our Rand community on Telegram and Discord, or check out our website for more information.

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