Rapids (RPD) is a decentralized blockchain project created with the purpose to combine the technologies of social media and blockchain making everyday online transactions more accessible. It is also a community project aiming to encourage members to volunteer their time and energy to help with network development. Since its team is focused on eSports and the gaming industry the community is made up of players, streamers, and viewers. In this way, the network is mainly used for sponsorships, rewards, weekly tournaments, and mini-games.
The main goal of the Rapids team is to integrate a secure cryptocurrency into the social platforms we use on a daily basis. The network participants are able to send instant payments directly to recipients, receive funds anywhere in the world, and share rewards across social media environments, such as messaging and streaming platforms and e-commerce websites. Rapids also offers businesses direct and immediate payments across the blockchain.
The project combines the Proof-of-Stake (PoS) protocol to create new blocks and secure the network and the Masternode network to increase stability, functionality, and community management. The Rapids network was launched in August 2018. It is licensed as a payment system for online peer-to-peer and business-to-business transactions by Estonian authorities and has offices in the US and the UK.
The Rapids token
The RPD utility token based on the Ethereum blockchain powers the Rapids network. The token genesis date was August 23, 2018, followed by the initial distribution of 15 billion coins. The maximum supply is limited to 35 billion RPD.
The Rapids blockchain is based on the Proof-of-Stake mechanism. Members can stake RPD to help verifying transactions and maintaining the proper functioning of the blockchain thereby reducing the energy costs and increasing the protocol’s security. Staking RPD coins for a certain period of time allows users to generate a constant passive income. Staking does not mean that the funds are permanently locked in, so users can access them and the received interest at any time.
RPD coins can be acquired on exchange platforms or via Mobile Rapids App for fiat, cryptocurrencies, VISA or MasterCard. Exchanges that list RPD are Boa Exchange, Birake, Block DX, Crex24, Graviex, and Zer Dex. The coin is mostly traded against BTC, ETH, and LTC. Rapids coins can be stored online in any ERC20 compatible wallet or the Rapids mobile wallet for iOS and Android.
The Rapids team actively encourages their supporters by airdropping RPD in Telegram and Discord. Supporting the community by writing articles, making instructional videos, and participating in activities allows members to win free coins.
The platform provides the opportunity to earn RPD from block rewards by staking or hosting masternodes. Each block creates 1.7835 RPD, which is allocated between the team, masternodes, and stakers. Masternodes get 60% or 1.0701 RPD per block, 20% or 0.3567 RPD per block go to team funding, and staking reward is 20% or 0.3567 RPD per block. New RPD coins can only be spent after six blockchain confirmations.
RPD holders get the right to vote and make proposals about network improvements. They can also benefit from discounts on masternode hosting, trading on partner exchanges, and airdrops.
The network provides three staking methods for users. The first one is to deposit your RPD in a specialized wallet and receive simple interest by storing coins and assisting in validating transactions. This method does not allow reinvesting profits.
However, there are online staking platforms that apply compound interest and do not require a minimum deposit. Compound interest means the daily reinvestment of interest earned. Such platforms as 4Stake, StakeCube, MyCointainer, or Evonodes do not require your constant presence and make Rapids reinvestments for you. You can stake and start making profits immediately after registration.
Rapids desktop Core Wallet represents the third staking method. It requires at least 1 Million RPD to activate the staking function, but the fees are very low, varying from 0 to 0.01 RPD. The wallet needs to be downloaded and then be always open on the computer, which must be permanently turned on, so it consumes a lot of energy.
How Rapids work
The Rapids’ team is focused on user experience trying to make payments as easy as possible. RPD payments are sent across the blockchain through Social Networking platforms so users do not need complicated addresses associated with cryptocurrency payments. Both parties only need the account name or handle of the other party. Receivers get funds to their Rapids wallet.
Users can share their RPD through Telegram, their desktop RPD Wallet, and SWFT blockchain. Telegram’s Tipbot charges no fees and requires sending a minimum of 25 RPD. SWFT allows sharing unlimited RPD quantities for a group of 1 to 5000 people. Users just need to register, make a deposit, and get the Red Packet link. Anyone who opens this Red Packet will automatically receive RPD directly to their SWFT Wallet without any fees. The transaction fee for sending RPDs is 0.0001.
Rapids team and partners
Rapids Network is a team of 15 experienced and ambitious blockchain enthusiasts and cryptocurrency advocates with specific skills.
Corey Strong is the founder and CEO who has worked on multiple cryptocurrency projects and was one of the first to use blockchain technology across social networks. Volodymyr Biloshytskyi is a blockchain developer who is also the founder of Karbonara.io. Matt Cimelli is an advisor at Rapids and a managing director at Cimelli Heating. Other team members are Maik Rolf, a developer, Raimundas Sereika, a Rapids broadcaster, Stuart Lloyd, a social media manager, and Milly Melinda, a community manager.
Rapids has partnerships with various blockchains, social media, and entertainment organizations. Among them are Casinogate, a platform where different games like video poker and slots can be played with RPD, VeriSafe platform for crowdsourced projects, Mazer Gaming, a professional esports and entertainment organization, media partners Beincrypto and Bitcourier, and the Linda project, which holds your RPD coins in a wallet, and automatically stakes them.