Tokenomics
Breaking down the tokenomics structure of our NFTs and tokens.
| Token | Type | Contract Link | Max Supply |
|---|---|---|---|
Membership Pass | ERC-721M | 20,000 | |
Genesis NFT | ERC-721M | 20,000 | |
$RUG Token | ERC-20 | 255,000,000 | |
$RDAO Token | ERC-20 | 170,000 |
Membership Pass
The Rug Radio Membership Pass started out as a mint pass that provided early access (famlist) to mint the genesis NFTs. However, it has now transformed into a more affordable key to the ecosystem, offering greater accessibility to all interested participants.
Holding a membership pass allows you to participate in our Rewards Program where you can earn $RUG by engaging on Twitter, completing bounties, and participating in listen-to-earn.
Genesis NFT
Genesis NFTs provide daily $RUG token rewards and offer access to additional perks for being part of our community.
Accumulated $RUG tokens can be viewed or claimed on the claim dashboard.
Holding a Genesis NFT also allows you to participate in our Rewards Program.
$RUG Token
The $RUG token serves as our utility token
The total supply of 255 million $RUG is slowly released on a 5 year time frame
$RUG can be earned by holding Genesis NFTs, participating in the Rewards Program, and listening to shows.
$RUG can be used to convert to $RDAO and participate in governance, purchase items in the Rug Store, and more as we continue to build out our rewards program.
$RDAO Token
The $RDAO token is our governance token that represents a holder’s voting power within the DAO.
$RUG can be converted to $RDAO on the claim dashboard
$RUG that is converted into $RDAO is not burned, but is instead transferred to the RugBank for redistribution
The exchange rate is 1800 $RUG = 1 $RDAO
Note: Currently, it is not possible to swap $RDAO back to $RUG.
ERC-721M
ERC-721M is a new standard developed by SyndicateDAO, our smart contract partner, with a modular design that includes features such as
Customizable mint, burn & transfer plug-ins
Customizable, evolvable metadata & renderers for on-chain identities, roles, reputation, and more
Gas-optimized bulk mint, distribution & onboarding capabilities
The power of using this smart contract standard means that our NFTs can easily evolve as our community grows and changes.
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