The charge-discharge, the high-rate dischargeability, and the self discharge characteristics of the electrodes composed of rapidly solidified ZrVulcornerMnulcornerMoulcornerNiulcorneralloy, which has the form of partial substitution of Mn, Mo, Ni for V in $ZrV_2$ were studied. The alloys were prepared using Arc & RSP(Rapid Solidification Process) at the rotating roller speed of 2000 and 5000 rpm. Some of them were received heat treatment at$ 560 ^{circ}C$ for 1 hour after the solidification to investigate the effect of the heat treatment. It was fond that cycle life was significantly improved by RSP, whereas discharge capacity, activation rte and high rate dischargeability were decreased compared with the conventional arc melting method. The capacity loss seems to be due to the loss of the crystallinity and the increase of the cycle life ascribed to the presence of the amporphous phase as well as the refined grain size of less than 0.2$mu extrm{m}$. Heat treatment of the alloy cooled at 2000 rpm improved the cycle life. In case of the alloys cooled at 5000 rpm, both the discharge capacity and the activation rate were significantly improved by the heat treatment.