$RUST Token Explained — pt.1 Intro.
The full article was originally published by the Rusty Robot Country Club on Medium. Read the full article here.
$RUST Token Explained — pt.1 Intro.
The utility token of the Rusty Robot Country Club, $RUST is an integral part of the RRCC ecosystem. After the main collection NFT sale no activity or opportunity in the ecosystem can be engaged with without holding the $RUST token making it the centre piece of the RRCC economy.
There will be no ICO, no sale, no buy-ins from investors.
The only way to get your hands on $RUST is through airdrops to NFT holders and the fair launch event that will be held with our partners ShimmerSea DEX — an entire article explaining the fair launch will be released soon.
After the launch of the token $RUST staking, liquidity pools, and farming opportunities will begin. This will allow any $RUST holder to engage in passive earning as the token is vested over the next two years. NFT holders will also have more opportunities with special access pools that allow even better earning opportunities — including a 10x pool for OG NFT holders.
The token distribution is focused on the community and NFT holders, with the Tokenomics designed to support as fair and engaging opportunity for everyone who is a part of the RRCC.
The breakdown is as follows:
45% — Staking rewards vested over 24 months
17% — Airdrops for NFT holders vested over 18 months
16% — Liquidity & Community rewards vested over 24 months
13% — Eco-System & Project Fund vested over 24 months
5% — Partners & Early Adopter vested over 18 months
4% — Team and contributors vested over 18 months
What can you do with $RUST?
$RUST provides access and utility across every aspect of the RRCC eco-system and will be used for every interaction within the community.
This means that everything from comics, music, royalty systems, community rewards, merch, de-fi tools, and everything in between, are only possible to participate in if you have $RUST token.
$RUST will allow holders the opportunity to engage with every aspect of the creative side of the RRCC allowing access to a novel comic book experience that support NFT comic collectibles, and real world physical graphic novels. A new and engaging experience has been developed with our partners at Cromy, to provide incentivised comic book collection, along with some insane real-world collectibles and phygital (NFT Linked) items also — only available with $RUST and RRCC NFTs.
A never-before-seen web 3.0 music experience is coming soon that will support community members with exclusive access to NFT releases featuring music tracks, videos, exclusive content, and more for RRCC artists and upcoming independent artists alike. With $RUST NFT holders gain exclusive entry into these artists careers and can also support holders with rewards for royalties (more about this in a full post coming soon).
Music is linked to rights and royalties are distributed to rights holders on a bi-annual or quarterly basis. The RRCC has building an innovative eco-system that can support NFT linked royalty rights that allow community members to hold and be rewarded for holding NFTs that support their favourite artists. Access to these systems will only be through the RRCC NFTs and $RUST token and rewards will be distributed in $RUST token also.
On top of the exciting creative aspects of the token, the RRCC has been established predominantly as a community for creators. An inclusive space where anyone can come and kickstart their vision through engaging with NFT and $RUST holders. One of the features we will be launching is a Creator Launchpad specifically geared towards music artists and comic book creators. This will allow independent artists the opportunity to share their creative visions with the community and the community to choose who we invest in and support with production, release distribution, and merchandising. All with $RUST and NFT holders gaining rewards for their involvement in the process.
Having the token will also allow us to help the community with secure and trusted de-fi tooling that will be free to use for NFT holders and require a small $RUST fee from non-community member. Be it simple swaps or escrow, auctions, or other tools, we have a lot on the way that will expand the RRCC website into something not only for the community but for the entire Shimmer EVM space.
These are just a few of the starting points within the $RUST ecosystem. As we progress with the expansion of the project over the course of the next year or two, we can expect to see the emergence of more DAO focused governance and discussion, community ecosystem proposals, funding, partnerships, new features, tools, releases, and a whole lot more.
In short, the release of $RUST is not the release of “just another meme coin” but the foundations and beginnings of an entire multi-media and creator community economy on Shimmer.
Anyone who wants to engage with any of the countless aspects, activities, events, release, rewards that the RRCC are putting out must use $RUST.