Share this article
The RMRK token, which is a native token to Polkadot’s innovative NFT 2.0 protocol, is well-granted by Statemine’s common good chain and pays with that token instead of the chain’s native token (KSM). I can. In addition, it is now available on the Ethereum network via a multi-chain bridge.
Trading with RMRK and Mintha NFT
The self-execution of code changes enacted by the on-chain governance of Polkadot’s wild cousin Kusama Network took place on May 16 after being voted on May 8 and set a historic precedent. increase. -Native tokens can be used to pay transactions on Statemine’s common good parachain (blockchain connected to the Kusama relaychain).
This news follows the first of the other RMRK tokens. This includes the first Statemine tokens listed on centralized exchanges and the first chainless Polkadot ecosystem tokens that can be transferred to three or more different parachains.
To be on the safe side, Statemine is a common good parachain that does not require you to participate in the chain auction model, instead occupying a permanent slot connected to the Kusama relay chain, making the relay economically secure forever. Enjoy. The purpose of Statemine is to be a lightweight balanced ledger for basic substitutable and non-substitutable tokens.
To be able to send and receive tokens with Statemine, you need to initialize your account with KSM (Kusama’s native token) and use KSM as a transaction fee. This is to prevent spam on the chain.
RMRKDespite the bear market transformation, market performance shows a clear demand for tokens, coupled with increased utility, increased community growth, and integration across most of Polkadot’s connected parachains. Helped the community vote to get enough tokens.
Therefore, after May 16, 2022, you no longer have to pay transaction fees with KSM or make a KSM deposit in your account to use RMRK tokens with Statemine. This makes integration with centralized exchanges much easier and enables direct chain-level use cases such as NFT trading and mining using RMRK as a currency.
RMRK has been added to the list of multi-chain bridgeable currencies and is now available for trading on various decentralized exchanges in the Ethereum ecosystem.
This move is part of a broader extension to the EVM (Ethereum-virtual-machine) blockchain with the recent release of the RMRK team’s latest NFT standard: as a drop-in alternative to the publicly available ERC721. Multi-Resource NFT A public debate took place this week, with a year of production testing at Kusama, the original chain of RMRK.
RMRK is a set of NFT 2.0 standards, a LEGO that can be combined into an evolved, mutually compatible NFT system with dynamic rarity.
