We introduce you to a new token type: Reference System for DeFi (RSD).
RSD is an algorithmic ERC-20/BEP-20 token specially made for decentralized finance (as its name suggests). It was developed to tackle the problem of the high correlation of price with Bitcoin and other popular cryptocurrencies. Although there are some alternatives like AMPL, RMPL, and Ditto, they rely only on the price dictated by the market instead of their direct interaction between their supply and demand.
In order to better regulate the market price, the RSD system design controls the total supply by burning or minting tokens according to the policy established by an intelligent agent guided by reinforcement learning. This policy is changed by observing:
- the predicted market demand, inferred from the average volume of transactions measured at a random interval;
- the current total supply, whether is above or below the target supply.
Every transaction involving RSD alters the overall state of the token economics. When someone sends to another account a given amount, the protocol decides immediately whether this amount should be reduced or increased, which consequently will impact the total supply. If the transaction is chosen to reduce the amount, the recipient will receive fewer tokens than expected and the rest of it is burned. Otherwise, both sender and receiver get new-minted tokens instead.
To maintain the ecosystem, the RSD protocol rewards miners/validators for each transaction made. Additionally, the system retains a specific pool fed by a portion of all transactions. That pool amount is used to reward a lucky sender randomly selected on a regular basis. We refer to this system as Proof of Bet (PoBet), which means the users bet on the supply expansion, by making a transaction. In the long run, this will indirectly make the RSD economics grow and generate value for the involved parties.
Details about RSD tokenomics can be found here.
If you are interested, you can buy some tokens on the crowdsale, from Ethereum and Binance Smart Chain networks. You can also send ETH or BNB directly to the token address 0x61Ed1C66239d29Cc93C8597c6167159e8F69a823 (is the same on both blockchains), during the crowdsale period.
