Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Malam90 on January 22, 2021, 01:57:35 PM
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Penjaga Lilin Nusantara, an Indonesian Cooperative in Malang – East Java is setting up Ricetron.com a Tron-based DeFi to tokenized rice-based stablecoin. The website aims to invite crypto enthusiasts to stake Tron and mint RET (Rice Economy Token), a governance token that will fund RIC (Rice Inventory Coin) stablecoin.
RET token holders will benefit from 30% of all transaction fees and profit-sharing of RIC DeFi, where once the DeFi platform running will be distributed back as Protégé Dividend to RET token holder wallets.
Total supply is 269,000 RET with only 190,000 RET minted through staking. It is a TRC-20 token, using a TRX blockchain where the speed and the fee of transaction are much better compared to ERC based token.
Indonesia uses BULOG (state-owned logistic company) to stabilize staple prices, which mostly focuses on rice. Due to lack of data reading skills, BULOG wastes 30,000 ton decayed rice every year, which amounts to almost 30 Million USD/year of the Indonesian government budget. News source (https://news.bitcoin.com/rice-based-stablecoin-is-being-launched-in-indonesia/)
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Rice Economy Token?
This token may be designed to supply rice in that country and I am sure that the token is also to be traded with basic food ingredients.
But there is one problem, namely what if the token supply and the rice supply intersect with others because the rice supply always goes up and down due to the seasonal supply.
I'm waiting for the best news from Rice token because it looks like this thread is worth discussing.
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Rice Economy Token?
This token may be designed to supply rice in that country and I am sure that the token is also to be traded with basic food ingredients.
But there is one problem, namely what if the token supply and the rice supply intersect with others because the rice supply always goes up and down due to the seasonal supply.
I'm waiting for the best news from Rice token because it looks like this thread is worth discussing.
The rice market in Indonesia has a lot of problems and it is because of this that I very much doubt that a cryptocurrency will be created that will have the character of a stable cryptocurrency. Even those projects that were created for the circulation of gold nuggets and processed gold, they did not produce a stable cryptocurrency, although their tokens were backed by gold.
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Rice Economy Token?
This token may be designed to supply rice in that country and I am sure that the token is also to be traded with basic food ingredients.
But there is one problem, namely what if the token supply and the rice supply intersect with others because the rice supply always goes up and down due to the seasonal supply.
I'm waiting for the best news from Rice token because it looks like this thread is worth discussing.
I am hoping so dear mate. This is something new to me and for the first time i have heard about Rice tokens. This tokens utility may be dealing with food supply, food trade with it. I am also waiting for their upcoming updates about their road map, and other plans. :)
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Rice-Based Stable Coin is New Idea for Me. However i will More study About it. And this Stablecoin Is Being Launched in Indonesia. That is why our opportunity to know has increased.