What is RSS3?
RSS3 is the native token of a feed protocol that goes by the same name. You can see the current RSS3 price featured on the RSS3 price chart above.
In Web 2.0, the RSS (Really Simple Syndicate) Protocol was designed as a tool for the distribution of information. It basically is used by websites to put all the information of the website on one page. RSS3 is intended to do the same thing for the decentralized web known as Web 3.0. With RSS3, all information about a person’s wallet is on one page. This information can be used for building social media content, content networks, games, and even e-commerce platforms.
Though it is worth noting that RSS3 has no relation to the original version of RSS. RSS3 was founded by Joshua Metora and an anonymous developer that goes by the social media handle @DIYgod. Both co-founders started a company called Natural Selection in order to build RSS3.
The RSS3 crypto asset was developed in February 2021 as a governance token of the RSS3DAO.
Use Cases of RSS3 Tokens
Since RSS3 is a governance token, it allows holders to vote on various decisions considering the RSS3 protocol. This includes electing Global Indexer and Serving Nodes, adjusting the max supply of RSS3 files handled by a single Serving Node, managing DKG key fragment thresholds, scaling subgroups, upgrading modules, adjusting the duration of epoch rounds, and deciding what happens with the treasury.
Besides that, RSS3 coins are essential for Global Indexers and Serving Node operators since they have to stake the tokens in order to become operators.
Don't forget to check the live RSS3 price that is displayed on its price chart above.
In total, one billion RSS3 tokens were created at the genesis event. This is the maximum supply, which means that no new RSS3 tokens will be mined. However, the majority of the tokens are in long-term lockups and will be released slowly over a period of five years. This ensures a fair distribution of RSS3 rewards and helps to prevent a decrease in the RSS3 price.