Last Saturday, the $RNB token was officially launched by Rentible, the next-generation decentralized rental platform offering seamless and secure crypto rental payments, making it possible for tenants and landlords to conveniently send and receive rental payments in cryptocurrency and streamline functionalities across the market.
What’s Rentible about?
Rentible’s vision and long-term goal is an autonomous, transparent, and user-friendly ecosystem with mass adoption at its sight that will inject the industry-disruptive capabilities of blockchain technology into Proptech, positioning Rentible.io as a first-mover and a leader in this huge untapped market.
According to their white paper, Rentible’s focus is on advancing the move towards a decentralized sharing economy via the employment of DeFi principles and trustless smart contracts, generating value for participants and remedying existing market problems along the way.
Rentible will operate in the highly energetic mid-to-long-term rentals sector, valued at close to $3.2 trillion, and is set to be a first-mover among the nextGen Proptech ventures that are sure to follow into this massive, yet untapped, sector of the industry.
In several situations, their team affirmed:
We envision an autonomous, transparent, and intuitive platform that will inject the industry-disruptive capabilities of blockchain technology into Proptech.
How $RNB Token Works
Functionalities across the Rentible ecosystem will be accessible by using the platform’s native utility token — RNB. The RNB token is integral to incentivize users and strengthen the reach of the platform, to serve as a measure of keeping the ecosystem neutral, to benefit participants with rewards and discounts, to provide added value as well as enhanced user experience, and can be recouped for the equivalent FIAT value on external exchanges.
The flow of funds within the Rentible platform is carried out through the vault, a mechanism set to maintain and optimize the internal tokenomics of the ecosystem.
A locking system will ensure a reduction in the circulating supply of RNB and introduce a deflationary aspect to the Rentible ecosystem. All RNB token transactions within the ecosystem will be sent to the vault, where 25% of the quarterly transacted amount will be locked until a cap of 525,000 tokens, out of the total issued 3.5M tokens, are removed from circulation. This will ensure the rarity and scarcity of the RNB token. 64,165 tokens will be removed from circulation instantly and to sent to the token contract address.
After reaching the cap, the usage of these tokens will be democratized and fully subjected to the community through the governance token. In this manner, holders of the token will be able to contribute to the advancement of Rentible by participating in decision-making interactions regarding the platform’s growth, its protocol, services, cooperations, and future applications.
Token transactions include fees paid for services throughout the ecosystem as well as 10% of the raffle prizes.
This mechanism is intended to provide incentives for Rentible users and holders of the RNB token alike and to contribute to the ecosystem’s global expansion.
Rentible To The Rescue
While the main focus of Rentibleis to create a seamless and efficient platform where participates can benefit from much lower costs than is possible on centralized platforms and to make rent-related payments with cryptocurrency accessible to everyone, the employment of immutable tamper-proof records designed to eliminate the risk of fraud, widespread scams, theft of private data and manipulation of privacy is a pillar of the ecosystem’s architecture, aimed to do just that — protect the privacy and funds of its members.
If you got our vision and understand its potential for mass adoption, and looking to join Rentible to support the project, then check their website and don’t forget to drop by their Telegram channel and Twitter page to share questions, suggestions, and thoughts as they grow.