As the Bitcoin halving gets closer, the crypto markets continue to fluctuate, and different exciting projects are being launched. One such project is the RDAT token, a first-of-its-kind project launched to reward data contributors and used to govern the community-owned Reddit dataset.
What is RDAT
RDAT is the governance token for the community-owned data treasury (r/datadao). r/datadao is a community-owned data collective where users can earn from their data. This data includes posts and comments on platforms like Reddit.
Reddit sells this data to different companies, and they have already sold some data for $60M a year. These data are sold because they are very useful, helping to train chatbots in the art of conversation.
Users can join r/datadao with their Reddit account, add their data, and earn points based on their karma. The community dataset is the foundation for a new Reddit platform, which is entirely user-owned. Users have the power to vote on whether to rent the data to other AI companies or to delete it.
If Reddit agrees to pay directly, users can collectively decide to delete the data.r/datadao, members can vote to utilize the data to initiate their rendition of Reddit, directly vend their data to AI companies, or employ their collective influence to persuade Reddit to compensate them directly. The level of contribution determines one’s portion of the karma points.
How to Buy RDAT Token
On April 4th, the worldwide cryptocurrency exchange CoinEx listed RDAT, giving crypto consumers an accessible trading channel. As of April 16th, RDAT’s total market cap is 3.7 million USD.
CoinEx, an exchange with over 900 various crypto assets, focuses on innovative crypto assets, monitors industry trends, identifies quality and unique projects, and follows a “good, fast, and complete” listing strategy to optimize asset operation.
This aims to address the different investing demands of worldwide users while also assisting them in capitalizing on various cryptocurrency opportunities.
Global investors can trade and invest in RDAT using the CoinEx platform.
To start trading RDAT tokens, click on the link below:
(https://www.coinex.com/en/exchange/RDAT-USDT)
RDAT is the first data DAO on the platform. It aims to reward users for contributing their Reddit data and allowing them to vote on how to collectively use this data, such as leasing it to AI companies for model training and other usage.
History of RDAT token
RDAT team started out on April 3rd with the idea that “Data is currency and collective data is power.” They were motivated by the fact that Reddit makes a bunch of money selling users’ data to foundation model companies. So, they created an infrastructure where users’ data can be held on escrow, and users will have exclusive rights over their data and sell it to whomever they want.
Overview
- Name: RDAT
- Official link: https://www.rdatadao.org/home
- Explorer: https://basescan.org
- Total supply: 20 Million
- Contract address: 0x4498cd8Ba045E00673402353f5a4347562707e7D
- Twitter: https://twitter.com/rdatadao
- Supported CEX: CoinEx, CoinW
- Supported DEX: Uniswap
- Convenient for users to know in time：https://www.coinex.com/en/info/RDAT
Disclaimer: Please note that the information provided on this website is intended for informational purposes only. CoinEx assumes no liability for any financial losses resulting from cryptocurrency trading. It is advised that you conduct your research.
About CoinEx
Established in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform provides a range of services, including spot and margin trading, futures, swaps, automated market maker (AMM), and financial management services for over 5 million users across 200+ countries and regions. Founded with the initial intention of creating an equal and respectful cryptocurrency environment, CoinEx is dedicated to dismantling traditional finance barriers by offering easy-to-use products and services to make crypto trading accessible for everyone.
