RDN was created during the RDN token launch in October/November 2017. The 100 Million tokens are a cryptocurrency based on Ethereum, designed to be a general purpose, decentralised cryptocurrency. The currency can already be used for micropayments on µRaiden and is envisaged to become compatible with and to be used on the Raiden Network.
The project token (RDN) is a general purpose, decentralised cryptocurrency envisaged to be compatible with and used on the Raiden Network. It can be used to in micropayment channels on µRaiden, which is currently deployed on the Ethereum mainnet at 0x1440317CB15499083dEE3dDf49C2bD51D0d92e33 and perform payments over these channels. For more information on the RDN token, review the token contracts or see this blogpost.
A total (fixed) supply of 100,000,000 tokens were generated, which were allocated as follows:
Learn more about the initial allocation of RDN tokens in this blogpost.
The launch was facilitated via a same price Dutch auction and a fixed percentage of tokens were offered. Read this blogpost for more details.