RICE meaning in Cryptocurrency ?

Answer:

What Is RICE Wallet (RICE)?

RICE Wallet is a user-controlled, non-custodial wallet application that allows anyone to manage their cryptocurrencies and NFTs in one place with absolute control. RICE helps make it easier for investors to access the DeFi market with carefully selected DApps and customized UX/UI.

RICE Token (RICE) is a native utility token that can be used within the RICE Wallet and RICE Decentralized Finance ecosystem for the following purposes:

Transaction fees; affiliate and bounty rewards.

Discounts on using services and purchasing digital assets with RICE Wallet.

Governance votes to participate in decision-making procedures like adding new blockchain networks, tokens, and new features.

Fund Staking

RICE Decentralized Finance ecosystem includes:

RICE Wallet that allows anyone to access the DeFi market and DApps easily.

RICE Finance - a financial magazine to guide and help everyone keep track of the latest news in the cryptocurrency market.

RICE Ventures, where RICE invests in the sectors that can be disrupted by blockchain, including but not limited to finance, gaming, retail,...

How Many RICE Wallet (RICE) Coins Are There in Circulation?

RICE was first built as ERC-20 on the Ethereum blockchain with a maximum total supply of 1 billion, but 70 million RICE tokens have been burned to mint 20 million new ones on Binance Smart Chain as BEP-20 and 50 million on KardiaChain as KRC-20 (a blockchain network from Vietnam). Out of this, just over 14.5 million RICE are currently in circulation.

RICE token had its initial coin offering (ICO) on July 20, 2021, at a price of 0.004 USDT.

RICE's circulating supply will gradually grow as RICE Wallet users earn RICE tokens for completing various tasks, such as participating in referral campaigns, Airdrop events, cryptocurrency staking, and trading.

As stated in the roadmap, 20% of the RICE token supply will be targeted towards user acquisition, 25% will be used for Fundraising, 40% will be held in reserve, and 15% will be allocated to the founding team.

What Makes RICE Wallet Unique?

RICE Wallet is a decentralized wallet that helps everyone manage their addresses, send and receive crypto with high-security assurance, and the best user experience by providing selected and customized UX/UI Defi applications to simplify all operations. Users can track and explore the entire DeFi market at the best price with ease.

RICE token is designed to provide additional value to RICE Wallet's users. It doesn't have any utility outside of the RICE Decentralized Finance ecosystem.

Despite this, it can be exchanged against other tokens or used as payment for services. With RICE, anyone can have voting rights and governance over the development of the RICE Wallet, which can be used for discounted DEX trades or in-app purchases.

Who Are the Founders of RICE?

Aiming to be a Decentralized Finance ecosystem with the best user experience, RICE is the brainchild of Kn (Co-founder and CEO) and Hieu Ngo (Co-founder and CTO).

Kn has held many senior management positions at big corporations such as TOPICA, PTI, MB BANK. After successfully raising $500,000 from Shark Tank VN for Miin Asia with a micro-insurance product, he was offered to sell the company for $4,000,000 by one of the top 5 banks in Vietnam.

Hieu is the Co-founder and Chief Platform Officer of TCOM, the leading Technology and Software Service company in Vietnam. Hieu has many years of experience in building technology solutions for products like AI, social live-stream, and video conferences. Besides, he is directly involved in developing VietID, an application with over 20 million users.

Deriving from many bad experiences in crypto investment, some even challenging to use like Trust wallet or MetaMask, Kn gave up a salary of several thousand dollars to call and convince Hieu to build RICE, hoping that anyone could enter the market easily. The team shows seriousness and commitment to the project with a 5-year vision. All tokens of the founding team are locked for five years. In addition, angel investors are also selected, requiring a 2.5-year lock. As an investor, he always puts his faith first. That philosophy inspires all RICE teams.

How Is the RICE Wallet Token Network Secured?

RICE Token audit is performed by CertiK's professional engineer team through careful and thorough analysis and comments to reduce the risk of RICE being hacked or using errors to affect the token price.

RICE team always continues to upgrade and improve RICE for better protection with the help of top cybersecurity companies like CyStack.

Besides this, RICE is secured by the security of the wallet software used to manage it. For RICE Wallet, this includes a passcode security lock and a 12-word recovery phrase.

Where Can I Buy RICE token (RICE)?

RICE token is available for trading on a growing number of platforms - including both centralized and decentralized exchanges like PancakeSwap, KAIDEX,...

RICE is tradable with cryptocurrency, and stablecoin includes VNDC, Tether (USDT), Binance Coin (BNB), KardiaChain (KAI).

reference

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