Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
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.
