Over the past few weeks, the Relevant (REL) token has started to garner a lot of attention in the crypto community. As exciting as this is, we want to make sure that new users understand all aspects of the token and the economics of Relevant before diving into the project.
This post will cover:
User curation rewards
Relevant company status
A full breakdown of token parameters
First, a general disclaimer…
The REL token and Relevant platform are in beta mode. There are many aspects of the token dynamics that we are still finalizing. The token contract has not been audited and is upgradable, meaning we are able to change its parameters. Even though we are committed to honoring the current token contract, there are still many risks involved. Please make sure you are aware of these risks before purchasing REL tokens on Uniswap.
Inflation and Curation Rewards:
The most important point we want to emphasize is that REL is a utility token that first and foremost benefits the users of the platform and disincentivizes speculation. The token has a built-in inflationary mechanism that distributes tokens to the users of the Relevant App. As of June 14 2020 roughly 5.5M tokens have already been allocated to existing users as curation rewards. Users can currently withdraw up to 1000 tokens and this limit will increase with time.
This means as time goes by, more and more tokens will enter the circulating supply as a result of users claiming their rewards. In an ideal scenario, there will be an equilibrium between the amount of new users wanting to purchase Relevant tokens and users wanting to cash out their tokens, stabilizing the price.
Our long-term goal for the token is a low and stable price, wide adoption and high liquidity. We are actively exploring mechanisms to help facilitate this.
If you hold Relevant tokens, you can use them to stake on content within the Relevant app. To get more information on how you can earn REL coins, check out this post: