Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The $1R0R token rally has picked up pace. The Ethereum-based token at the heart of the R0AR DeFi ecosystem has seen its market capitalization close to new highs, with the buying pressure partly driven by the team's buyback program.
The token itself derives its value from its stable tokenomic model and utility-focused outlook. The team has designed it as an ERC20 token that won't be subject to inflationary pressure or fall victim to some sort of short-term pump and dump scheme.
The token initially went live on Uniswap and has since been added to PancakeSwap, making it widely available to traders. In addition, a presale has been completed, and the tokens will start to be distributed in September this year.
As the 1R0R rally continues, many traders are betting on there being plenty more upside as the buybacks continue and the token's exposure to the broader crypto trading community grows.
1R0R becomes the utility token of The R0AR DeFi ecosystem
The 1R0R token is part of a broader DeFi ecosystem known as the R0ARverse. This DeFi hub is designed to offer users a comprehensive platform where they can carry out just about any operation imaginable. The core idea behind it is to create a one-stop shop for secure, reliable, and accessible features such as yield farming and token trading.
The 1R0R token will facilitate various features. It will operate as part of the reward program for staking and liquidity providers. Staking involves locking up tokens to support the network and earn rewards, while liquidity provision involves adding tokens to trading pools on the decentralized exchange to earn a share of trading fees.
For example, on the R0AR xCHANGE, users can provide liquidity to the 1R0R/ETH pair. By depositing an equal value of both tokens, they enable trading and earn a percentage of the transaction fees generated by that pair. The R0AR platform will make this process simple and secure using its native wallet and AI-enhanced features.
1R0R introduces balanced tokenomics for steady growth
The tokenomics of 1R0R include a maximum supply of 10 billion tokens. The distribution was designed to be fair, with a portion allocated to the community, development, and the team. Plans for a future burn mechanism are in place to reduce the circulating supply over time.
The plan included a buyback program that would see the team deploy funds to buy back tokens from the open market. Just hours after the buyback program was confirmed on a live AMA, the market reacted positively, and price recovery began.
At the time of the announcement, the token's price had dropped to around $0.0023 according to data from Uniswap, representing a crash of over 80% from its pre-drain position. As the buyback program news spread, bullish pressure mounted, and green candles began to form.
The price increased by over 100% in 24 hours following the buyback announcement made on April 16th and continues to post consistent gains.
Most moving averages and other technical indicators suggest that the growth could continue in the medium to long term as selling pressure has been minimal.
Join The R0AR DeFi Revolution
R0AR Homepage: https://www.r0ar.io/
Telegram: https://t.me/r0ar_community
Vladislav Sopov
Dan Burgin