Reported By: Bitcoinist.com
Rabet, a consolidated non-custodial wallet made for DApps and DeFi Apps on the Stellar network is creating a community governed ecosystem through its governance token, RBT.
There is a recent trend of on-chain governance that seeks to have users more engaged in cryptocurrency projects. The on-chain governance is there to guide the protocols to operate as designed. Moreover, the on-chain governance helps the protocols run on a neutral basis thereby avoiding favors to any party involved. The actors in this process include developers, validators, and users. This is why Rabet has created its own governance token to complement the DAO functionalities within the Stellar network.
Building on Rabet’s on-chain governance token
Launched earlier this year, the wallet seeks to make it easy for users to interact with the Stellar network. Recently, Rabet decided to mint its native token that gives its community power to decide on the future developments of its project.
The $RBT token is a Stellar-based governance token for the Rabet community. Rabet was created to provide users with a simple way to interact with the Stellar network. Rabet is a combination of open-source wallets that make it easy for users to interact with Stellar easily.
The token has a total supply of 100 million tokens. Since its launch, the token has been tasked with expanding the ecosystem by bringing more users. So far. 50% of the total supply has already been allocated to reward the community, 10% for marketing, 20% for presale, 10% for public sale, and the remaining 10% for the team.
In addition to governance, $RBT has many other use cases, including bug report bounty, pool reward, and holder reward. The Bug report bounty is designed to reward the community for their assistance in the development process. The incentive program uses 10% from the reward system to reward users depending on the severity. Note community members are required to make their requests on Github. On the other hand, the token will also be used to reward holders for their loyalty. The project has already set 10% of about 10,000,000 RBT to be distributed monthly to users in proportion to the number of tokens in their wallets.
Rabet has numerous features, including availability, multiple operations, asset issue management, permissioned base, and privacy. The Rabet wallet was created with user privacy in mind. By design, Rabet limits the amount of data it collects, shares, and uses from its users. Rabet hopes to launch its presale, public sale, and listing in exchanges in the coming days.