What is ShareToken?
SHR is the native token of ShareRing, which is a blockchain project that aims to provide users with a decentralized worldwide marketplace for shared services. Besides, it allows users to create their own digital identities for Web3 and use them to access multiple platforms and metaverse projects over the internet. It's also worth noting that ShareRing aims to become the “Amazon of the service industry.”
Overall, with the help of ShareRing, users can safely access services offered all around the world and pay for them using a decentralized digital currency. Besides, in 2019, ShareRing launched the first B2B platform for traveling called TravelRing.
ShareRing is built to function across multiple chains, such as Ethereum and BSC. Thus, its native token ShareToken comes in the form of both – ERC-20 and BEP-20 token standards. Check out the ShareToken price chart above to see the current SHR price.
However, besides ShareToken, the project also has another currency called SharePay (SHRP), which is a stablecoin. In essence, it's used to pay for any sharing services or goods that are bought through the ShareRing platform.
Use Cases of ShareToken Crypto Assets
Primarily, ShareToken assets act as a payment method for creating digital IDs. Besides that, the coins can be staked on the ShareLedger blockchain in order to earn passive income. For staking ShareTokens, users can swap the ERC-20 standard SHR with the SLP3 SHR. This way, even though they are staking the tokens, they can still use them elsewhere as per their necessities. Additionally, ShareToken crypto assets can also be used as access passes/fees for the various events organized by ShareRing. This includes NFT spaces and numerous others.
Tokenomics of SHR
The ShareToken crypto asset was first launched in 2019. At that time, the SHR price was staggering between $0.001 and $0.004 till the first half of 2020. However, starting in June 2020, the ShareToken price started showing an upward trend and, in July, reached its first all-time high of $0.04956. Post this, the SHR performance was consistently rising and dropping at regular intervals until March 2021. Over 30 days, the ShareToken price spiked and reached a new all-time high record of $0.09856.
There is no max supply set for SHR tokens. However, more than half of the initial token supply (55%) was split between investors, ICO, and the core team, as well as distributed through an airdrop. The remaining portion was set aside for future operations.
Founders of ShareToken
The team behind the ShareToken crypto project comprises individuals from different spheres and, thus, brings diverse expertise and skill sets to the project. While some are from a background in engineering and automotive, others are developers, marketers, and designers. The team includes Tim Bos, Rohan Le Page, Peter David, Neville Christie, Jane Sadler-Kidd, and Barry Brewster.
Besides Rohan, the rest of the team has worked on a previous software project for car-pooling and vehicle rental trying to make shared services accessible to everyone. Rohan, who has been part of the automotive industry for a long time, acted as the COO of ShareToken till June 2020.
