Robonomics’ lifetime subscription token is trading for close to six-figures on Uniswap.
The highly-anticipated launch of Polkadot’s (DOT) mainnet has seen many smaller crypto assets associated with the project explode recently.
Both tokens of the distributed ledger technology (DLT)-powered robotics and Internet-of-Things (IoT) project Robonomics have been among those to surge alongside Polkadot, with the price of its utility token XRT increasing 10 times earlier this month.
However, Robonomics’ “lifetime subscription token,” Robonomics Web Services (RWS), has also posted massive gains — becoming the first crypto token to trade for more than $100,000 when it tagged $116,000 in recent weeks.
RWS’s extreme price owes to the token’s minute supply, with only 50 coins currently circulating from a maximum supply of just 100 tokens. While the first 50 tokens were distributed via the XRT/RWS pairing on Uniswap, the remaining coins have been “reserved for academia and non-profit organizations.”
Robonomics leverages blockchain technology to build open-source packages supporting robotics and smart cities. The RWS token comprises a “subscription model experiment” for the Robonomics network, with RWS guaranteeing lifetime transactional throughput to the holder.
Each token guarantees one transaction per second between the Robonomics Parachain and the token-holders’ IoT device, or 2.5 million transactions per month. Transactional throughput is also guaranteed to fractional RWS owners — with holders of 0.1 RWS gaining access to one transaction every 10 seconds, while owners of 0.001 RWS can execute a transaction once every 100 seconds, and so on.
RWS is currently trading exclusively on Uniswap, generating close to $350,000 in 24-hour volume. The token has a market cap of just $4.65 million, ranking it outside of the top 500 crypto assets by capitalization.
Robonomics describes the token as a “pioneers’ special offer,” noting that future token models will offer “other types of RWS tokens with monthly and other types of limitations.”
RWS is currently in alpha, with the token’s beta release scheduled for the fourth quarter of 2020. Despite 900% spikes earlier this month, Robonomics’ tokens have since retraced by roughly 20% to 25% from their all-time highs.