Startup DeFi and synthetic real estate hub MasRelic has launched its new RELIC token on Uniswap. The Uniswap protocol facilitates automatic transactions on the Ethereum blockchain.
The RELIC token has many uses, but a major one is for synthetic real estate. The token also can be used for Ethereum reflections, DeFi farming reflections, and the utilization of crypto tokens in the mortgage/rent industry.
A Bright Future
The RELIC token has recently reached a 100K market cap, and MasRelic’s founder believes the platform and cryptocurrency have a bright future.
“There are numerous opportunities to start including Synthetic Real Estate along with DeFi by using our platform. This bear market is going to catapult innovations and benefits projects like ours,” founder Alex Luy told Yahoo! Finance. He also said that the RELIC token is committed to the Ethereum platform, unlike many other cryptocurrencies that start on the Ethereum platform, only to move later.
MasRelic is launching with four tokenized properties and four liquidity pools. MasRelic’s payment scheme encourages community members to hold onto RELICs.
MasRelic’s mission is “to create passive income for everyone and open up the flood gates of DeFi.” Its roadmap indicates three phases. The token issuance is part of Phase I. Phase II includes a Certik audit, staking, and 1,000 RELIC hodlers. Phase III includes the pursuit of additional exchange listings, Sandbox land development, strategic partnerships, and 10,000 RELIC hodlers.
The company has positioned RELIC as an underdog token. It says the token will grow slowly but consistently. The company also says it will always act in the interest of its holders and the community.
Company Institutes Restrictions to Lessen Volatility
MasRelic has restrictions to prevent “parabolic” movements. No individual may have more than 2 percent of the RELIC supply in their wallet at one time. The token will also use buybacks to maintain steady prices and a burn mechanism to keep it valuable. Also, 3 percent of each transaction is converted into dividends. Another 4 percent goes to MasRelic’s treasury wallet, while another 3 percent is converted to liquidity.
MasRelic will also provide rewards to RELIC hodlers. Rewards will be paid in ETHER, the native currency of Ethereum.
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