We have now here a new token in Hive engine but this token is not designed for buy and sell but it is a token who will guarantee that on what you give, the more you get from it. But this rice token group is a closed group that solely for the Philippines or for the Filipinos. An idea that gives hope to all of the Filipino people and for other foreign people who were residing in the Philippines. For now, It is only for the Filipino hivians but I think if this will grow, the owner will consider other hivians that are not in the Philippines.
[edited using CANVA PRO]
The idea about RICE TOKEN is you will rent an HP (Hive Power) to @arcadeph using HIVE liquid as a payment and then while renting, you can get staked rice token from the payment of renting that HP.
If you plan on unstaking them, they will drip every day for 3650 days or roughly a 10 year course. This is a long time that you could never imagine but what if that you have lots of RICE staked, then you can drip every single day for a long period of time.
What's the costs for 1 Hive into Rice?
1 Hive gives you a 10,000 RICE tokens. For each 10,000 RICE token, you can get a 0.25 HP delegation for you from the @arcadeph account and with the minimum of 1,000,000 RICE token, you can directly get 25HP delegation for each and every month and so on and so forth and they called that a Milestone for the RICE community.
Who doesn't want that? while getting RICE token and at the same time RENTING HP, I can also GET a PERMANENT DELEGATION for staking RICE TOKENS.
What are the use cases of RICE TOKENS?
Many of us wonders about the use cases of RICE TOKEN as a whole. At first, I didn't understand the whole concept of the rice token as I was introduced by it and as I get into the closed group, I slowly understand the concept from the owner itself.
They introduced an HP rentals that if you rent an HP (Hive Power) to @arcadeph, you can get the HP Delegation and you can also get the STAKED RICE TOKEN for that. Many of us knew that if you lease an HP there are no other tokens that will give you except for the curation of the HP (Hive Power) that you can get. But in the RICE TOKEN, as you rented an HP, you can get a RICE TOKEN in which you can unstaked it anytime and sell it in the hive engine platform. It's a win-win situation for the users who rented HP to @arcadeph and as a side note, you can also get RICE TOKEN.
[Source from the discord group of rice community]
On the first week of the launch, the initial HP rentals were 1,000 then it became 3,000 and now it has become 5,000 that can be rented from @arcadeph that is only 14.4 HP per week and I can also get Rice token as soon as I pay my rent.
As time goes by, they have strategize on the concepts of how to rice tokens except from HP rentals. They have lots of ideas for the users to get RICE tokens and I think this is a good start as the token as also rises and this is a new concept for the token that has been used.
Why HP Rentals?
It struck in my mind on why do we have to rent HP (Hive Power) as we get the RICE TOKEN? Basically, @arcadeph said that he doesn't want his big HP (Hive Power) to be on his own and he wants to share to other Filipino people who are into HIVE and continue to support them as much as he could. He said that he wants his HP (Hive Power) to be distributed among the Filipino users in the Hive Blockchain and these Filipino users can use these HP rented to curate anything that they like in the Hive Blockchain.
I attended lots of his A.M.A. (Ask Me Anything) in the group because I want to get to know more about this token and he is passionate enough to give the idea on the rice token.
What's My Take on this New Token?
This Whole idea of the rice tokens will greatly benefit me and to other users who are behind to this little project. As I buy their tokens, I can benefit some of their perks and will get lots of perks in the future. For now I have more than 300,000 RICE tokens that are staked and planning to get these RICE token to 5 million because I want to show them that I am here to support in this idea and to support in the community.
This is the first time that I heard about this idea on renting HP and while rented, you can earn some tokens from it. I didn't saw anything just like this on other tokens.
Little by little, the community grows slowly but the support that they gave to the project is great for the Filipinos and will help other Filipinos in the Hive Ecosystem as much as they could. As of today, I rented 5,000 HP (Hive Power) to @arcadeph and the rental price is almost the same price as other leases in Hive Engine.
Note: The first photo was edited by myself using Canva
