RSS3 is a cutting-edge feed protocol that powers Dapps for social media, content sharing, and e-commerce. Built on the Substrate blockchain framework and leveraging the WASM virtual machine, RSS3 enables the seamless deployment of Dapps. The protocol operates with its native token, RSS3, a payment method for various network services. These services encompass data storage and retrieval, feed management and creation, and governance participation.
RSS3 team
The RSS3 team is led by experienced entrepreneurs and blockchain technology experts. The project was initiated by equity firm Natural Selection Labs and co-founded by Joshua Meng and Zui Chen.
Zui Chen holds the position of Co-Founder, while Henry Wang is the CTO, Eric Gu serves as the COO and Aziz Alangari takes charge as the Head of Communications.
How does RSS3 work
RSS3 functions by utilizing a decentralized network composed of nodes responsible for storing and indexing various types of data, such as blog posts, social media updates, and financial transactions. The network ensures security through a Proof of Stake (PoS) consensus mechanism, wherein nodes contribute to the security and integrity of the network by staking RSS3 tokens. This incentivizes node operators to act in the network's best interest, thereby maintaining its overall security and reliability.
RSS3’s native token: RSS3
RSS3's native utility token is named RSS3. Within the RSS3 network, this token serves as the primary means of payment for various services, including data storage and retrieval, feed creation and management, and participation in governance activities.
RSS3 tokenomics
The RSS3 token operates with a total supply of 10 billion tokens, with 4.6 billion tokens circulating. The token launched with an initial price of $0.01 per token, and the block reward is set at 10 RSS3 tokens per block.
To promote token deflation and value appreciation, 50 percent of all transaction fees are burned through the token burn mechanism. This ensures a reduction in the token supply over time.
Distribution of RSS3
The market cap of the RSS3 token, which stands at 10 billion, is distributed among various stakeholders as follows:
1 percent is allocated as the share of advisors.
4.6 percent is allotted for the company’s seed investors.
15.4 percent is dedicated to the team’s operations.
5 percent is reserved for Natural Selection Labs.
10 percent was set aside for the private token sale.
64 percent is designated for the loyal RSS3 community members.
What does the future hold for RSS3
The future of RSS3 looks promising as the project focuses on expanding its network by adding more nodes, validators, and active community participants. This expansion will improve the network's performance and security. Additionally, the team is executing a strategy to increase the adoption of the RSS3 token through partnerships with content creators, developers, and businesses.
This collaborative approach will help broaden the reach of RSS3 and attract a wider audience. Furthermore, there are plans to further integrate the RSS3 token into the ecosystem to enhance its usability and value. This may involve implementing features such as improved support for various data types, upgraded search functionality, and tools for monetization.
