What Is SpaceGrime (GRIMEX)?

SpaceGrime is a decentralized financial technology ecosystem. According to its whitepaper, the platform derives its value from memes. SpaceGrime, according to its website, is an experimental virtual currency that is tradable on three blockchains. The three blockchains are MATIC, Avalanche C-Chain, and Binance Smart Chain. The project is inspired by music, digital art, technology, and memes. These items tend to spread easily throughout the globe. SpaceGrime aims to bring together a rapidly growing art community.

Its Whitepaper also states that the project provides average people around the world with a way to participate in the crypto space. The project also intends to make users learn about new and exciting space technology along with profit from it in several ways through the project’s cryptocurrency ecosystem.

In addition, SpaceGrime intends to be a multi-planetary system. This seeks to be accomplished by setting up nodes to validate transactions on CubeSats orbiting the earth, moon, mars, and other bodies in our solar system. CubeSats are a kind of nanosatellite that are used for research purposes. The nodes seek to be powered by solar panels. Thus, it intends to allow the financial market to exist throughout the solar system.

The GRIMEX token is the native cryptocurrency of the SapceGrime project. It is a utility token. As the project works around non-fungible tokens (NFTs), collectible memes, art, and music, it allows the original creator of the art to keep it as original with them in form of NFT. Thus, the GRIMEX token is used to mint those NFTs. Though the project allows copying of memes or any art, the original content remains with the owner who has its NFT.

Further, the token is also burnt to increase its scarcity. Burning is when a fraction of tokens is sent to a wallet with no private key. This means the tokens are lost forever. Tokens are usually burnt to reduce availability and increase the market value. GRIMEX holders also seek to be provided with governance and voting rights. A holder intends to have relatively more voting rights with regards to the time he has staked the token via smart contracts.

History of SpaceGrime (GRIMEX):

The GRIMEX token was launched in the second quarter of 2021. According to its whitepaper, the founding team decided to remain anonymous and went by pseudonyms like Flik Randall, Jaks Ayman, Harriet Lewis, and Earl Thompson. The total supply of GRIMEX token is 696,969,696,969,697,000.