RICE token (RICE) is a utility token that can only be utilized within the RICE Wallet application and the RICE Decentralized Finance ecosystem. Many non-custodial wallets issue tokens with numerous incentives built into the protocol. Therefore, RICE token is not simply a cryptocurrency to trade; RICE holders will receive much more than that.
Governance and Voting
Any RICE investor has the right to participate in several of the application’s decision-making processes. Such as:
- Voting for a token listing,
- Adding more blockchain to the network, or
- Improving the wallet’s functionality.
This feature helps users own fundamental privileges, deciding from the level of convenience in use to long-term companionship to bring activities that increase RICE use value and market value.
Trading and Rewards
RICE can be swapped for other tokens within the wallet. It can also be used as a utility on decentralized exchanges linked with various incentives, such as lower transaction costs.
RICE is also used to pay for community promotion, marketing, affiliate, and bounty activities. RICE can be swapped for ETH or BNB as transaction fees.
Use with RICE Dapps
It is expected that linking Dapps and RICE tokens when using these Dapps will be detailed in RICE’s 2023 plan. This is the potential and significant development of RICE wallet and RICE token in the future.
Collectible Marketplace payment
Buying, selling, and exchanging on Collectible Marketplace is smooth and user-friendly with RICE utility tokens. This brings more convenience to the user interface and improves the user experience.
RICE token has development potential because of its multiple applications and emphasis on user benefits. Let’s wait for the launch of RICE Wallet application on November 20 to experience the utilities firsthand.