Category: Update

RED: here we go!

9 January, 2018 | By Nenad Rakocevic

After long weeks of hard work, we are finally ready and happy to announce the opening of the token sales! We had to rename the token to RED (all caps), as an RCT token was deployed by another project a few days ago. Its purpose is still unchanged: powering the decentralized apps and Red community tokenomics!

This process will be held starting from January 8th to January 31st 2018, in three stages:

Private Angel Investors       : Jan  8th - Jan 11th
Early Bird round              : Jan 12th - Jan 15th
Open round                    : Jan 16th - Jan 31th

The total fixed supply of RED tokens is 200,000,000. The allocations are:

Private investors             : 10% (20,000,000) with a 3 months lockup period.
ICO (earlybird + open rounds) : 30% (60,000,000)
Red team                      : 15% (30,000,000) with a 12 months lockup period.
Red Foundation                : 35% (70,000,000)
Marketing/Strategic           : 10% (20,000,000)

Exchange ratios with Ethers (ETH) are set as:

Private Investors             : 1 ETH => 3400 RED
Early Birds                   : 1 ETH => 2750 RED
Open round                    : 1 ETH => 2500 RED

Only Ethers are accepted, with a minimum of 1 ETH. Private angel investors also benefit from a 20% unlocking at the closing date of the token sales process.

In order to participate, you will need to go through an online registration process (KYC), and provide the required credentials. Citizens of countries that have banned or posed heavy regulations on such token sales are not allowed to participate.

For more information about the token sales:

This is the culminating point of many months of hard work and preparation. Many thanks to the teams and partners who have worked over the clock to make this happen. This is the dawn of new era for Red and its community of contributors, users and followers. Help us make it happen now!

Go RED!

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