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The Renegade Token (RNG) serves as the fuel for the Renegade ecosystem, offering several utilities:
- 1.Staking for Squad Points: Users can stake RNG to earn Renegade Squad Points. The longer they stake, the more points they earn. These points can be used to redeem Reward Boosters.
- 2.Fixed and Flexible staking: The Renegade platform will offer its users APY staking. The rewards will be paid in RNG. This staking is also separate to the rewards staking.
- 3.Trading & Exchange discounts: Users who stake RNG will receive discounts for exchange services. The longer you stake the better the discount. If a user unstakes the discounts are also lost.
- 4.Rewards for Benefits: Each benefit chosen by the user is a €10 reward in RNG. This means that users can earn RNG by choosing benefits from their favourite companies.
- 5.Spending Rewards: All the Renegade cards offer a percentage return on the user’s spending. This is then paid out in RNG, allowing users to earn when they spend.
- 6.Powering the App: The RNG token powers the Renegade app, enabling users to enjoy the full range of features and services offered by Renegade.
- 7.Payment: Users can use RNG as a form of payment within the eco system. For example: If a user decides to pay their monthly squad subscription in RNG, they will receive a discount.
In essence, the RNG token is a crucial component of the Renegade platform, enabling users to earn rewards, access benefits and fully utilise the Renegade app.