How does the world’s first user-oriented coin Recast1 maintain price stability in the volatile crypto universe?
What is Recast 1?
Recast1 is among the world’s first user-oriented coins listed on Bitmart. It is developed on an algorithm that applies hourly incentives for consolidating transfers and funds. This user-oriented coin aims to maintain price stability.
Recast1 is the first user-oriented coin (R1 Token) that maintains price stability by considering fluctuating numbers of users, user transfers, staked users, and staked amounts.
So how does R1 Token maintains the price stability?
To maintain the price stability of the coin, it uses fluctuating numbers of users, user transfers, staked users, and staked amounts. By using these four factors, the price of the Recast1 coin can be stabilized. It is a fully-decentralized coin.
Recast1 provides incentives to the users per the changing demands in transfer on an hourly basis. The balance between demand and supply is directly proportional to the balancing price rate.
When one receives a fee from a user for a transfer, it is a taxation method. Unlike the other crypto-projects, there is a small incentive for users who want to transfer R1. They help the users to earn by transferring some rewards that one earns by mining or staking.
Imran Tariq, CEO of Recast1, said, “As per the taxation approach, one has to receive a fee from the users for transmitting the money. It encourages people to stake and mine. However, it is useless if the users are encouraged to transfer. In contrast to other platforms, they offer little incentive to customers who transfer R1.”
R1 is transparent like Bitcoin, and it provides stability for trading with users defining it. The project offers something unique for users with innovative and unique algorithms. No other project uses this level of service.
The users of Recast1 will never pay commissions. They are instead rewarded based on their actions. Any user who transfers R1 will get R1 in their wallet as a reward from the company.
The R1 coin network structure has been set up in a way so that the R1 coins can be produced by the transfers and stakes of the users. Due to this control that the users have over the coin, it has been able to achieve a fully decentralized structure. There is no interference from outside, and the users have the utmost control over the coin.
Recast1 wants to focus more on its users than on the movements in the prices like the other crypto platforms. The platform wants to develop a user-friendly system by eliminating the annual loss percentage and high fees that users usually have to pay.
Conclusion
Recast1 is one of the first user-oriented coins to be listed on Bitmart globally. It is based on an algorithm that uses hourly incentives to consolidate transfers and funds. The goal of this user-friendly coin is to keep prices stable. It uses fluctuating numbers of users, user transfers, staked users, and staked amounts to keep the coin’s price stable.
