Robonomics token Surges to $95,000 on Uniswap
The very much awaited roll out of Polkadot’s (DOT) mainnet has brought several small-sized crypto assets linked with the venture surge in recent times. Both tokens of the distributed ledger technology (DLT)-based robotics and IoT (Internet-of-Things) venture Robonomics were among the assets to gain value along with Polkadot, with the value of its utility token XRT rallying 10x in August.
Nevertheless, “lifetime subscription token,” of Robonomics i.e. Robonomics Web Services (RWS), has recorded huge gains, turning out to be the first cryptocurrency token to trade for over $100,000 when it hit $116,000 in the past few weeks.
The huge valuation of RWS is justifiable on the basis of miniscule supply, with merely 50 coins presently available freely out of the maximum supply of 100 tokens. Even though the initial 50 tokens were disbursed through the XRT/RWS pair on Uniswap, the rest of coins have been “reserved for academia and non-profit organizations.”
Robonomics capitalizes blockchain technology to develop open-source packages assisting robotics and smart cities. The RWS token consists of a “subscription model experiment” for the Robonomics ecosystem, with RWS assuring lifelong transactional output to the token holder.
Every token affirms one transaction per second between the Robonomics Parachain and the token-holders’ IoT gadget, or 2.50 million transactions every month. Transactional output is also affirmed to holders of fractional RWS tokens, with those owning 0.1 RWS to gain access to one transaction per ten seconds, while owners of 0.001 RWS can handle a transaction once in 100 seconds and so forth.
Currently, RWS trades solely on Uniswap and posts volume worth $350,000 per day. With market cap of only $4.65 million, the token does not gain a place in the top 500 list of cryptos by market capitalization.
Robonomics refers to the token as “pioneers’ special offer,” pointing that the upcoming token models will provide “other types of RWS tokens with monthly and other types of limitations.” RWS is presently in alpha stage, with the token’s beta roll out planned for 4Q20.
Dollowing the 900% appreciation earlier in August, the native token of Robonomics has lost about 20% to 25% from their peak value.