Uniswap Sees Robonomics Token Being Traded for $95,000 Each

Uniswap Sees Robonomics Token Being Traded for $95,000 Each
Uniswap Sees Robonomics Token Being Traded for $95,000 Each

The Polkadot (DOT) mainnet launch was a highly anticipated one, indeed. The anticipation was to such a degree than many of the smaller cryptocurrencies that were associated with the project managed to explode in value, as well.

Worth More Than Bitcoin

Robonomics, an Internet of Things (IoT) and robotics project powered by distributed ledger technology (DLT), has seen both of its tokens be subject to this incredible surge as Polkadot rose to power. As it stands now, Robonomics had its utility token, XRT, increase in value by a factor of ten just earlier this month.

However, the “lifetime subscription token” of Robonomics, Robonomics Web Services (RWS) has seen incredible gains. The token has managed to become the first cryptocurrency in history to trade for more than $100,000. This occurred when it managed to gain an insane price of $116,000 in recent weeks.

Supply Vs Demand

The extreme level of price for RWS can be primarily attributed to its very minute supply. In total, only 50 tokens are currently in circulation, and the maximum supply has been set at just 100 tokens. The first 50 of these tokens were distributed through an XRT/RWS trading pair within the Uniswap exchange, and it’s said that the remainder of the coins will be reserved for non-profit organizations and academia.

Robonomics leverages blockchain technology in order to develop open-source packages to support smart cities and robotics. The RWS token, in turn, stands as an experiment to the typical subscription model for the Robonomics network. The ownership of RWS guarantees a lifetime transactional throughput to the holder in question.

The Many Associated Benefits

The ownership of each token guarantees exactly one transaction per second between the token holder’s IoT device and the Robonomics Parachain. Crunching the numbers, this guarantees a total of 2.5 million transactions per month. This level of transactional throughput is guaranteed to fractional RWS holders, as well. A holder of 0.1 RWS will be capable of gaining a transaction every ten seconds. An owner of 0.01 RWS sees a transaction executed every 100 seconds, and so on.

As it stands now, only Uniswap is trading in RWS, but is managing to generate almost $350,000 in 24-hour volumes. The token itself has a current market cap of $4.65 million, as well.

Robonomics has described this token as a special offer for those pioneers willing to risk it. The company made note that the future models for the tokens will feature other sorts of RWS tokens, with various other forms of limitations.

Remember, all trading carries risk. Past performance is no guarantee of future results.

A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.