Rimo Token is the native coin/transactional currency of the Rimo Network and is used to power the Rimo Ecosystem.
Rimo has several use cases:
- used for community utilities (such as games and DApps) on the Rimo ecosystem
- Make a donation to Rimo Charity
- Tip Your Favourite Influencers and Content Creators
- Pay for goods and services for both online and in-store purchases
A pre-sale for Rimo Token took place from July 1 to August 31 of 2021 on CCTIP. Injecting 0.5 USDT for 1 RIMO or 1 BNB for 250 RIMO determined the issue price. Although RIMO was launched through a PRE-SALE, RIMO does not provide users with a claim on the Rimo Network’s profits or represent an investment in Rimo Network.
RIMO was originally issued as an TRC-20 token, running on the TRON network, with a total supply of 100 million coins. 20 million RIMO tokens were offered in the Private and Presales event, but the current total supply is lower due to burning events stated to occur in the Whitepaper if all tokens from the Token sales or Airdrops are not claimed, in which Rimo Network destroys RIMO tokens held in its treasury. If you want to know more about coin burns, and why RIMO tokens are being permanently destroyed, check out What Is a Coin Burn?.
Despite initially being based on Tron, the TRC-20 RIMO tokens will later be swapped with the BEP-20 version on a 1:1 ratio. The BEP-20 RIMO is currently the native coin/transactional currency of the Rimo Network, that can be used within and outside it’s ecosystem to pay for goods and services online and in stores, on campuses, in restaurants and as a qualitative store of value.
What is RIMO used for?
As mentioned, RIMO has many use cases both within the Rimo ecosystem and elsewhere, so it is up to you to decide how to use your RIMO. For instance, you can use RIMO to pay for your travel expenses, buy virtual gifts and much more. We estimated that millions of RIMO will be consumed by users for travel expenses, payment of goods and services, for lending, for tipping, for rewards, to create adaptive smart contracts, and for other transactions.