Rabet, a consolidated non-custodial wallet designed for Stellar network DApps and DeFi Apps, establishes a community-governed ecosystem via its governance token, RBT.
On-chain governance is a recent movement that aims to get consumers more involved in bitcoin initiatives. The on-chain governance is there to guide the protocols to work as intended. Furthermore, on-chain governance allows protocols to execute on a neutral basis, preventing favoritism to any party involved. Developers, validators, and users are all participants in this process. This is why Rabet has designed its governance token to supplement the Stellar network’s DAO functionality.
Using Rabet’s on-chain governance token as a foundation
Released earlier this year, the wallet aims to make it simple for consumers to engage with the Stellar network. Rabet recently opted to issue its native token, which allows its community the ability to vote on the project’s future advancements.
The Rabet community’s governance token is the $RBT token based on Stellar. Rabet was designed to give consumers an easy method to connect with the Stellar network. Rabet is a collection of open-source wallets that allow consumers to interact with Stellar effortlessly.
The total quantity of the coin is 100 million tokens. Since its inception, the token has been entrusted with growing the ecosystem by attracting new users. So far, so good. Half of the entire supply has already been assigned to reward the community, 10% for marketing, 20% for presale, 10% for general sales, and the remaining 10% for the team.
In addition to governance, $RBT has a variety of additional applications, such as bug report bounty, pool reward, and holder reward. The bug report bounty is intended to compensate the community for its contributions to the development process.
Depending on the severity, the incentive program uses 10% of the reward system to reward consumers. It should be noted that community members must submit their requests using Github. On the other hand, the token will be used to reward holders for their loyalty. The project has already set aside 10% of approximately 10,000,000 RBT to be awarded to users on a monthly basis in accordance with the number of tokens in their wallets.
Rabet includes several characteristics, such as availability, various operations, asset problem management, permission-based, and privacy. The Rabet wallet was designed to protect the anonymity of its users. Rabet restricts the amount of data it collects, distributes, and utilizes from its users by design. Rabet expects to start its presale, public sale, and exchange listing in the following days.
