Revain, Blockchain-based Feedback Platform, to Launch Crowdsale on August 21

Categories Altcoins, ICO



The blockchain-based feedback platform, which focuses on authenticating online reviews for businesses and customers alike, will be issuing a total of 1 billion R tokens.

After creating a good buzz among the cryptocurrency and blockchain enthusiasts, Revain is finally set to launch its crowdsale round today on August 21 at 12:00 PM New York time.

The blockchain-based feedback platform, which focuses on authenticating online reviews for businesses and customers alike, will be issuing a total of 1 billion R tokens. But the company will allocate only 70% of the total R tokens during the crowdfunding period. Of the remaining 30%, 10% will be assigned to advisors and the participants of the Revain bounty program; while 20% will be allocated for the Revain team members for their services in maintaining the platform.

Revain is focused on raising a minimum of 8,000 BTC, while the purchasing value of one R token will be decided upon the completion of the crowdsale, on September 6, 2017. The team believes that it is better to organically locate the value of R tokens, rather than imposing it. For instance, if Revain raises, say, 8,000 BTC at the end of the crowdsale, the per R token price will be 8000 / 700000000 = 0.000011 BTC.

Revain has also released the source code of their tokens for peer review. The token, as stated in the Revain’s original whitepaper, is a standard ERC20 token, based on the Ethereum platform.

The team aims to secure funds and use them for R&D and covering platform-related maintenance cost.

Difference between R and RVN Tokens

In order to ensure a proper functioning of the Revain platform, the team had decided to issue tokens: R and RVN. While the R token is used to gather funds, and as a tradable currency, the RVN token is mainly an in-platform currency used to reward users for quality reviews and debiting companies for written reviews.

R and RVN tokens will be exchangeable between one another. Unlike R token, the value of which will be subjected to market volatility and other factors, RVN token will have a fixed value of 0.0001 BTC. No fees will be charged for R and RVN token trade.

Have questions about Revain? Read their whitepaper here.

Published by

Gola Yashu

India-based IT professional Yashu Gola found Bitcoin in 2012, when he was trying to send money to one of his friends in the US. As he quotes, it was “love-at-first-sight” with the mystical work of digital currencies. He left his online advertising job to work as a full-time Bitcoin writer for forex news website ForexMinute.com. Apart from covering the minute-to-minute Bitcoin events, Yashu is also an active Bitcoin trader and analyst.When not working, he is found reading and writing movie scripts, poems and songs. He is also a passionate movie buff

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