RMRK Token Distribution

RMRK Token Distribution

On September 15th 2021, the RMRK token was minted and distributed to all eggdopters according to a July 1st snapshot.

How to see my balance

To check how many you should have gotten vs your actual balance, please refer to the fairdrop post and compare with your original number of purchased eggs.

You can see your balance by visiting Singular or Kanaria and checking out the header.

Alternatively, you can check the Polkadot JS UI interface here. You must use the dropdown to select asset 8 (RMRK) and this UI will then show you all of your accounts that have some balance of this token.

Please note that because the token is minted on the Statemine chain, you must be connected to the Statemine chain to read it and interact with it.

Other wallets and interfaces that can show you the RMRK token balance:

🚨 Please understand that you will never see your token balance in the Polkadot JS extension. The extension is just a signer, a set of crypto keys that allow access to your accounts. It does not know or care about chains, because it just stores math (cryptographic access to your accounts). As such, please use one of the above methods to see your balance.

Total supply / distribution / vesting / buyback

88% of the tokens were distributed to the community who bought eggs.

The total supply is 10 million tokens. There is no inflation.

Out of the 11% remaining tokens, 5% are locked for the founding team and the rest is loaned out to market makers for exchange liquidity.

There is no buyback program due to the immense utility of the token across the RMRK ecosystem.

How to send the token

To send the token, use any of the wallets above, or you can use the same Polkadot JS UI you use for reading the balance. The same table will show a "Send" button next to any address that can send the tokens.

Please note that the recipient MUST have at least the existential deposit amount of KSM in their account. You cannot send tokens to dead accounts. 0.005 KSM is enough.

You also need to have KSM in the account doing the sending. You already do have some - we gave you some KSM so your account comes to life and can accept the tokens. If you want to top this up, you need to Teleport some KSM from Kusama into Statemine. You can do that by going to Accounts -> Teleport in the Kusama UI, and teleporting into Statemine.

How to trade the token

There is currently no way to trade the token. If any exchange, dex or cex, offers to trade the token and is NOT listed here as an official partner, they are most certainly trying to scam you.

The RMRK Association does not recommend engaging in OTC trades either - please wait for the token to be tradable in the very near future.

⚠ The first CEX to list this token will be Kucoin, which will happen in September 2021.

How to use the token

As documented earlier, the RMRK token will have plenty of utility across the ecosystem - both as the native currency of the RMRK protocol and metaverse, and as a currency on the Singular website and other products we (the RMRK team) build and launch. Additionally, the RMRK token will be added as collateral to various DeFi ecosystems and into various DEX pools.

Right now, however, the token has no such functionality yet - it's coming in the very near future.

What about my tokens on Kucoin?

If you were entitled to any tokens via Kucoin, those tokens will be unlocked for you on Kucoin when trading begins because the tokens are distributed based on the eggholder snapshot on July 1st, and at that time all the Kucoin eggs were with Kucoin.

The RMRK team has no control over this aspect of token deployment, and it would be best if you contact Kucoin's support about this matter, or wait for the listing to start.

My balance doesn't match what I expected

Please contact us via hello@rmrk.app and we'll try to get to the bottom of it asap.

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