On Sept 15th, the RMRK token was generated and released into the hands of the original Kanaria NFT buyers.
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Token Deployment, Tokenomics, and Migration
ā ļø
šØ Before sending tokens, please ensure you read below and also read the documentation provided by the chain you are sending your RMRK tokens to. Take note of the range of features that are currently available on that chain. At present, some chains have more limited withdrawal options than others.
The maximum supply is 10'000'000 (10 million). There is no inflation, the token is deflationary due to wallet access being lost occasionally, and due to some mechanics that lock up and sometimes slash the tokens (see utilities below).
8.9 million (89%), the current circulating supply, was distributed to original Kanaria egg purchasers in a fairdrop. New purchases of Kanaria NFTs are not airdropped any tokens.
5% is locked for the core team to access after 2 years (1 year cliff, 1 year linear vesting per-block), and the rest of the supply is with the community.
There will be no private or public sales of the RMRK tokens. The team can assist with OTC deals for amounts over 200k USD.
Statemine
Statemine is Kusama's common good parachain for keeping balances of fungible and non-fungible assets. It is where $RMRK was originally created because it saves RMRK from needing its own chain or relying on another parachain which might lose a parachain lease.
On May 16th, RMRK has become a sufficient asset on Statemine, meaning that KSM deposits are no longer needed to receive and send RMRK on that chain, and chain fees are also paid in RMRK.
It is possible to move tokens back and forth between supported chains and Statemine.
Moonriver
Moonriver is a fully EVM compatible chain connected to Kusama, offering an Ethereum-like programming environment but on Proof of Stake and with on-chain governance. Moonriver is where Skybreach's land sale will take place.
RMRK on Moonriver is known as xcRMRK (cross chain RMRK) and is exposed to wallets as an ERC20 token which you might be familiar with from Ethereum and Ethereum-like environments.
Transfering RMRK from Statemine to Moonriver:
Reasons for moving to Moonriver:
- Participating in Skybreach land sale with xcRMRK
- Participating in DEXes and LP-ing, yield farming where available
- Programming utility onto the token
- Bridging the token into Ethereum via Multichain
Bifrost
Bifrost is an EVM compatible chain connected to Kusama.
Reasons for moving to Bifrost:
- Participating in LP-ing and the Zenlink DEX
- Programming utility onto the token
Karura
Karura is an EVM compatible "DeFi Hub" of Kusama, and home to a powerful DEX protocol and products, with more on the way.
Moving RMRK from Statemine to Karura: written tutorial.
Reasons for moving to Karura:
- Participaing in Karura DEX as an LP, yield farming
- Using RMRK as collateral to take out a stablecoin (kUSD) loan
To move the asset to-and-from, use their bridge UI.
Trading and Sending $RMRK
CEX - Centralized Exchanges and Brokerages
- Kucoin - Guides for RMRK transfers to/from Statemine / CEXes like Kucoin: video by Jay Chrawna or see this mini-guide on Telegram or in depth video here
- Gate.io
- StealthEX
- Kriptomat
RMRK Association will not be pursuing any CEX listings - we are prioritizing DEXes.
If a CEX wishes to list $RMRK, they can do so - the protocol is open and the token is permissionless. Please do not ask the team "wen exchange", we will not respond.
DEX - Decentralized Exchanges
- Moonriver: Solarbeam xcRMRK/MOVR pair, Huckleberry
- Karura: Karura Swap
- Bifrost / Moonriver: Zenlink
- Ethereum: Sushiswap
šØ A trading telegram room is set up here. Please do not discuss trading in the official group.
Wallets and Mobile Wallets
| Name | Platform | Bridging | Chain_(sending) | NFT_Supported | Note |
|---|---|---|---|---|---|
| Nova Wallet | iOS, Android | ā | ā
Statemine(ā
) ā Bifrost(ā ) ā Karura(ā ) ā Moonriver(ā ) | ā
RMRK 1 ā RMRK 2 ā Kanaria | |
| Talisman | Desktop | ā | ā Statemine(ā) ā Bifrost(ā) ā Karura(ā) ā Moonriver(ā) | ā
RMRK1 in dapp ā RMRK2 in dapp, view only ā Kanaria in dapp, view only | Extension |
| Subwallet | Desktop | ā | ā
Statemine(ā) ā Bifrost(ā) ā Karura(ā ) ā Moonriver(ā ) | ā
RMRK1 ā RMRK2 ā Kanaria | Extension |
| Polkadot JS | Desktop | ā | ā Statemine(ā) ā Bifrost(ā) ā Karura(ā) ā Moonriver(ā) | ā RMRK1 ā RMRK2 ā Kanaria | Extension |
| Polkadot JS Apps | Desktop | ā | ā
Statemine(ā
) ā Bifrost(ā ) ā Karura(ā ) ā Moonriver(ā ) | ā RMRK1 ā RMRK2 ā Kanaria | Needs an extension š |
| Karura App | Desktop | ā | ā Statemine(ā) ā Bifrost(ā) ā Karura(ā ) ā Moonriver(ā) | ā RMRK1 ā RMRK2 ā Kanaria | Needs an extension š |
| Polkawallet | Mobile | ā | ā
Statemine(ā
) ā Bifrost(ā ) ā Karura(ā ) ā Moonriver(ā) | ā RMRK1 ā RMRK2 ā Kanaria | |
| MathWallet | Mobile | ā | ā | ā | Wallet buggy beyond use, not recommended. |
| Metamask | Mobile, Desktop | ā | ā Statemine(ā) ā Bifrost(ā) ā Karura(ā) ā Moonriver(ā ) | ā RMRK1 ā RMRK2 ā Kanaria | EVM-only Extension |
| Stylo | Hardware (Android) | ā | ā
Statemine(ā
) ā Bifrost(ā ) ā Karura(ā ) ā Moonriver(ā) | ā RMRK1 ā RMRK2 ā Kanaria | Needs separate offline-only mobile device |
| Ledger | Hardware | ā | ā
Statemine(ā
) ā Bifrost(ā) ā Karura(ā) ā Moonriver(ā ) | Not recommended for Statemine and Substrate chains, fine for MOVR (xcRMRK) |
Read-only viewing balance / account inspection
- Statescan (Statemine RMRK)
- Sub.id (Statemine RMRK)
- Polkadot.js apps (Statemine RMRK)
- Moonscan (xcRMRK)
- Karura App (Karura RMRK)
- Etherscan (eth:xcRMRK)
Utility
Several utilities are planned for the RMRK token.
| Wen | Name | Status | Info |
|---|---|---|---|
| Q1 2022 | Curation DAO | ā | Curation and Plagiarism DAO: RMRK can be used to curate and report collections as plagiarized. |
| Q1 2022 | Whitelabel Campaigns | ā | Whitelabel of RMRK products and apps. Launching a whitelabel copy of the Kanaria initial collectible offering costs success commission fees, and is also directly payable in RMRK tokens. Note that owners of the Kokopelli gem can use the gem to gain access to these early launch opportunities. If you would like to launch a collectible campaign organized, minted, and managed/maintained by RMRK, please get in touch via bd@rmrk.app. |
| Q1 2022 | Verification Threshold | ā | To be and remain verified, issuers of NFT collections need to keep a balance of at least 10 $RMRK at all times. |
| Q1 2022 | Karura Native Asset | ā | Karura chain transaction fees are now payable in $RMRK. |
| Q2 2022 | Karura Collateral | āāāāāāāāāāā 65% | Using $RMRK to take out an $aUSD loan on Karura. |
| Q2 2022 | Minting Fee | āāāāāāāāāā 10% | To offset the cost of pinning NFTs on IPFS and to increase long-term availability, we will be introducing a minting fee to be payable in RMRK. This will be around ~$1, purely to prevent spam and to offset the cost. |
| Q2 2022 | Governance | āāāāāāāāāāā 65% | Governance of platform-wide parameters like period of curation, stake amount for curation, stake amount for turning NFTs into fungible tokens, commission fees on Singular and other products and apps we build, deposit amount for identity verification, and more. Note that all these parameters will be subject to sanity limits, i.e. minimum and maximum values, and frequency of change. |
| Q2 2022 | DEGEN Score TCR | āāāāāāāāāāā 55% | A Token Curated List to maintain a list of registered collections with cross-collection equippability, indicating cross-collection and cross-metaverse demand of equippable NFTs. More details soon. |
| Q3 2022 | DAO Collateral | šāāļø R&D š” | If you want to turn an NFT into a batch of fungible tokens to be able to govern it like a DAO, you have to stake some $RMRK. This prevents fungible token spam. An example of a token-governed DAO-NFT is a metaverse billboard like this one. |
| Q3 2022 | Stake to Unhide | šāāļø R&D š” | To mint an NFT on Singular which is viewable on discovery pages like homepage and collections list, you will need to stake some $RMRK. If after a governance-defined number of days no one reports your NFT for plagiarism, undeclared NSFW content, or any other breach of terms, you get your stake back. To report someone, you have to stake RMRK tokens. The winning party obtains the majority of the opponent's stake, the rest is burned, reducing the supply. |
| Q3 2022 | RMRK on Singular | āāāāāāāāāāā 55% | Using RMRK to mint and trade NFTs on Singular |
| Q4 2022 | Metaverse Currency | šāāļø R&D š” | See Skybreach |
| Q4 2022 | Metaverse Staking | šāāļø R&D š” | See Skybreach - staking $RMRK to gain in-game boosts, like more playable avatars, better performance, etc. |
Contact information:
- Business Development: bd@rmrk.app
- Marketing offers: marcomms@rmrk.app
- Fraud and other incidents: report@rmrk.app