ritestream Ecosystem Burn Mechanism
We’re thrilled to announce an initiative designed to boost the long-term value and sustainability of the heart of our ecosystem — the $RITE token. The mechanism involves a 5% burn for every transaction done within the ecosystem. In case you missed our previous article about our Staking Benefits, you can visit our medium article here.
Let’s get to it, shall we?
ritestream TOKEN BURNING MECHANISM
To enhance the long-term sustainability of our tokens, for every transaction across the ritestream ecosystem — riteStream+, riteApp, Film and TV Launchpad, CryptoKnights Launchpad and riteFund — 5% of the transaction value will be used to buy and permanently burn $RITE tokens from circulation.
How It Works:
Film and TV Launchpad
Film and TV Launchpad is where you can support the production of new TV shows & movies by purchasing NFTs for each production in return for airdrops & special rewards.
Stake your $RITE Tokens and get an allocation for NFTs based on how much $RITE you staked. Additionally, stakers get a discount. More information to be revealed soon.
How we will burn $RITE when you use the Film and TV Launchpad?
For every transaction to buy allocations on the Film and TV Launchpad(USDT), 5% will be used to swap to $RITE and burn.
riteApp
riteApp is the gamification mobile app for our TV shows & movies where you can vote to drive outcomes, predict to win prizes & more in the future.
Staking $RITE gives you regular “glimmer” drops in riteApp. Use glimmers to vote for outcomes in shows & movies. More possibilities coming soon.
How we will burn $RITE when you use riteApp
For every transaction on the riteApp (less Apple and Android app store fees), we will take 5% to buy and burn $RITE.
riteStream+
The riteStream+ is where you can enjoy hundreds of hours of TV and movie content. Currently free to enjoy (for a limited time only).
Staking $RITE gives you a chance to access selected premium content to cryptoKnights “Web3 Shark Tank” show. More details coming soon.
How we will burn $RITE when you use riteStream+
Every purchase of riteStream+ NFT (5% of the fee is used to buy & burn $RITE)
CryptoKnights Launchpad
CryptoKnights Launchpad will be the future! It’s a web3 Launchpad for the cryptoKnights show. Invest with the Knights and enjoy BIG discounts! Our community will get access to deals only a select few Tier 1 VCs and whales can dream of! Lock in the allocations just weeks before the show goes live!
Stake your $RITE Tokens. Allocation is based on how much $RITE you staked. More detailed information to be revealed soon.
How we will burn $RITE when you use CryptoKnights Launchpad
For every transaction to buy allocations on the CryptoKnights Launchpad (USDT), 5% will be used to swap to $RITE and burn.
riteFund
Welcome to riteFund, your secret weapon for early-bird crypto gains! Invest alongside the Knights on the same terms.
Stake your $RITE tokens and unlock larger size allocations. Get early access to projects and invest together with accredited investors & our partner VC funds.
If you are holding 500,000 $RITE tokens or more, fill out the short form to get directly connected to the team and learn more about riteFund https://t.ly/cyN5c
But why burn? It’s simple: scarcity breeds value. Just like adding wood to a fire, with every transaction, we burn $RITE tokens.
Reducing the supply decreases the quantity, enhancing the value, and benefitting the entire community. By continually reducing the total supply of $RITE tokens, we’re effectively amplifying the power and potential of each remaining token.
IN CONCLUSION
ritestream token burning strategy is positioned as a key driver for the long-term value and sustainability of the $RITE token, fostering a brighter future for our ecosystem.
Unlock the future of entertainment with $RITE — Join our community now so you will not miss future developments.
Where to buy $RITE?
Additional Resources
- The 5 pillars of ritestream’s Entertainment Ecosystem
- Benefits of staking $RITE in the ritestream entertainment ecosystem
- ritestream Roadmap and Timelines
- $RITE Staking Guide and FAQs
- Tier System for ritestream Ecosystem
- Linktree
Join Our Community
Twitter | TG Announcement | TG Group | Discord | Link to Sign-up form
FAQ
Q: Is the burn mechanism a tax or trading fee that I, as an investor will shoulder?
The responsibility for the token-burning mechanism is shouldered by ritestream. The 5% burn will be from our revenue sources, meaning every transaction within the ritestream ecosystem, including riteStream+, riteApp, Film and TV Launchpad, CryptoKnights Launchpad, and the upcoming Secret Pillar, is a deliberate initiative taken by ritestream to enhance the long-term value and sustainability of our native token, $RITE.
