RIF, the utility token for smart contract network RSK, shot up over 30% in price after an appearance by its founder on the Jan. 13 edition of The Pomp Podcast. The gain equates to a $36 million increase in market cap for RIF, most of which has occurred in the last 12 hours.
RIF, short for “RSK Infrastructure Framework,” is the token used as payment for decentralized infrastructure services which operate under the RSK protocol, such as e-commerce solutions and network bridges. Services are purchased at a marketplace hosted by the network and are constructed using RSK’s protocol. This renders them interoperable among a number of smart contract-enabled platforms like Ethereum and EOS.