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Token Utility

The utility of the token is two-fold;

    Governance: RGP token holders will be able to vote on product features, token utility, types of auctions and even decide which projects will be added or featured on the platform.
    Fees: Transaction fees will be paid in $RGP
Other forms of utility include the following:

Yield Farming, Smart Swapping, and Margin Trading

Farming pools, swapping, and trading on the Rigel Protocol Platform will incur a fee deducted in $RGP. Liquidity providers will receive APY (Annual Percentage Yield) in $RGP when joining the corresponding pools.

Governance

The Rigel Protocol governance ecosystem aims to build a solid and sustainable protocol for development and usage. RGP holders will be able to vote for ecosystem initiatives, new features and development, liquidity rewards distribution specifications, and other applications.
RGP holders need to stake $RGP to be able to vote and to submit proposals. Proposals will be first discussed off-chain on the Rigel Protocol governance platform. The idea of this pre-voting mechanism is to promote proposal discussion before on-chain submission.
Once the proposal is ready to be submitted, there will be an on-chain vote. Every winning proposal is then reviewed and applied by the Rigel Protocol development and management team.
Last modified 8mo ago