REI Network is a low-cost EVM-compatible blockchain which was rebranded from GXChain.
REI Network aims to achieve a lightweight, EVM-compatible, higher performance, and no-fee blockchain framework. Users can stake REI to have free transactions on REI Network.
REI is the native token of the project. The current use cases for REI include:
Pay gas fee: REI can be used to pay gas fee for processing and verifying the transaction.
Governance: REI token holders can vote and participate in governance of REI DAO.
Stake to become a validator: REI can be used as a pledge token for nodes who want to become a validator of REI Network.
The project consists of the following major components working in conjunction:
REI DAO: a decentralized governance community that manages REI Network via voting on proposals and granting funds to projects.
DPoS+BFT Consensus Algorithm: REI Network utilizes Delegated Proof-of-Stake consensus to create a more efficient and energy-preserving network.
System Contracts: a collection of built-in contracts that implements functions including staking, resource management, IBC, etc.
As of June 28th, 2022, the total token supply of REI token is 1,000,000,000. The current circulating supply is 950,000,000 (95% of the total token supply).
![logo](https://research.binance.com/static/images/projects/rei-network/logo.png)
REI Network (REI)
An EVM-Compatible Blockchain.
Jun 28th, 2022