6️⃣Token Economy
Last updated
Last updated
The ecosystem of the REDHeal platform is formed through a token economy mediated by the REDHeal Token (hereafter referred to as REDH), which is issued based on the BEP-20 standard defined by the BSC blockchain network. REDH tokens can be directly purchased through listed exchanges or obtained as rewards distributed by the platform. Acquired REDH tokens can be converted into cash via exchanges or exchanged for other coins/tokens through wallet services on the BSC network, allowing them to be used as investment assets.
The REDH token is a key element necessary for creating, maintaining, and activating the platform ecosystem. REDH tokens serve as a means of rewarding users utilizing the platform's De-Fi services, as well as a method of payment/settlement for fees incurred during De-Fi service transactions. Additionally, REDH tokens function as governance tokens, providing eligibility for participation and voting rights in the DAO, the main decision-making body within the REDH ecosystem.
The REDH token connects users and assets within the platform ecosystem, creating a virtuous cycle of "earning (receiving) - using (paying)" that sustains and perpetuates the ecosystem. Furthermore, it lowers the barriers to entry for services, increasing the influx of overseas users, which is essential for expanding the REDHeal platform's business scope and service scale into the global market.
