|
50% of invested funds go to charity program
49% go to bay-back fund
1% development and marketing
RICH Coin like it?s name suggests is created with idea to become a coin with biggest value among other cryptocurrencies on the market.
RICH coin is organised as ultra deflationary coin with continuous initial coin offerings (ICOs). First goal of project is to produce most valuable coin at the market and to collect money for charity fund.
It will be a great opportunity for investors, to be a part of RICH coin ecosystem and to participate in collecting, voting and sharing the capital with people that really need it, and on the other hand they will be able to profit by just owning RICH coins.
How Does it Work?
The purpose of RICH coin is to gain his investors more value in a short period of time through deflation. In each coin?s cycle it will be burned proportional amount of coins from some investors that have not enough coins or don?t invest enough. On that way more and more coins are revoked and existing ones gain on their value. As amount of coins goes down, their value increases, simple as that.
In burn process there are favorable investors who owns more coins than the others and investors that increase number of coins each constantly during a time.
There are two ways of burning coins which are described below. Maximum total supply of coins will be 1 billion (which will be issued during a crowd sales at price of 1 dollar or less) and at the end of burning there will be only 100.000 coins with approximate market capitalization of 1 billion dollars (10.000 dollars per coin).
Everyone will be able to buy tokens either during crowd sales or at the free market. Below will be described how continuous ICOs will work and how investors can buy RICH coins at better price.
How will the RICH Coin Crowdsale work?
As it is defined in contract, it will be launched a serie of crowd sales until 1 billion RICH coins are published and sent to investors. Each crowdsale will last for 10 days and will have 1 million RICH coins ready for sell. First 5 days of each ICO are reserved for priority buyers, for investors that already own RICH coins. They will be allowed to buy proportionally same amount of provided coins that they already have. Last 5 days are free for everyone to buy RICH coins (if any left after priority sell) not only for owners but for everyone that want to invest.
Here are all the facts about RICH Coin?s crowd sales (more ico cycles):
- In one crowdsale that takes 10 days will be sold maximum 1 million of coins
- Each coin would have a price of 1$ or less ( if current value of coin is less than a 1$, makes no sense to sell coins at price of 1$, new price will be calculated based on current market price on the following way: 80% of current market price)
- Coin price will not be higher than one dollar and will be always attractive for old investors as well as for new ones
- First 5 days of ICO - leverage is given to investors that already have some RICH coins
- Last 5 days of ICO - everyone can buy coins
- Process repeats until 1 billion of coins are sold
- 50 % of collected capital goes to charity organizations
- 49 % of collected capital goes to buy-back fund in order to burn more coins
- 1% of collected capital goes to core team (development, PR and marketing activities)
Investors that own RICH coin will be able to give their vote for charity organizations, where the 50% of collected capital will be sent.
Bonuses
It is a worth of having RICH coins at the early stage of initial coin offerings first because it will give possibility for buying more coins later on crowd sales for good price and second, there are provided extra bonuses for investors in the first 3 crowd sales:
pre ICO (15. Sept - 15. Oct) - bonus of 50% on top of bought coins
First ICO (1. Nov - 10. Nov) - 30% bonus
Second ICO (20. Nov- 30. Nov) - 10% bonus
How does burn work?
1) ?Burning poor? process
During a ?burning poor? process there will be burned coins mostly from owners who owned less coins and the other owners who already own lot of coins will be more safe. Burning process starts slow, there will be enough time to sell coins at good price or to buy more and get into safe area.
How much coins are going to be burned depends on how much coins are totally supplied at the moment. There is defined a ?burning line? which means that all investors that are above burning line (have more coins that calculated by burning line) are safe. Here is table of burning line during time:
| Total supply of coins (RICH) | Burning line (%) | Burning line (RICH) | | 10 000 | 0,01 % | 1 | | 100 000 | 0,01 % | 10 | | 1 000 000 | 0,01 % | 100 | | 10 000 000 | 0,05 % | 5 000 | | 100 000 000 | 0,05 % | 50 000 | | 1 000 000 000 | 0,1 % | 1 000 000 |
That means that if total supply of coins is 10 000 coins, the minimum that investors have to own in order to be safe and out of burning is 1 coin (equivalent of 1 $ at the beginning). As the number of issued tokens increase, burning line is moving up too.
There is one more way for investor to stay out of burning: to invest each cycle at least 20% of what he currently own. For example, if someone has 10 coins which is at the moment way below burning line, he needs to invest in next cycle (at ICO or at the market) at least 2 coins more in order to be safe for burning.
All in one: investor can be out of burning in two ways, first if he owns more coins than a burning margin (is above burning line) or if he has invested in this cycle 20% more than he owned before.
This will bring a huge possibility for small investors to invest later too, when burning line is too high, and to profit from continuously growing price of coin because of huge demand.
How looks burning function?
Burning process will be defined in smart contract and everyone can be able to execute a function but it can take effect only after each ICO and only coins that do not meet rules described before will be able to be burned. How much will be burned coins from some investors depends on how much he owns (number_of_coins), what is the burning line (burning_line_coins). Here is a table with a couple of owners and burning line of 100 coins:
| Number of coins | Difference to burning line | 50 % of difference is burnable | Will be burned | | 150 | - | - | - | | 100 | - | - | - | | 70 | 30 | 15 | 15 | | 60 | 40 | 20 | 20 | | 50 | 50 | 25 | 25 | | 30 | 70 | 35 | 30 | | 20 | 80 | 40 | 20 | | 10 | 90 | 45 | 10 |
First two investors are safe because they are above burning line. Third investor owns 70 coins, which is 30 coins below burning line. Only 50% of these 30 coins are burnable, that means that this investor will have 15 coins less after burning. On the other side, investor that has 30 coins, 70 coins below burning line, as 50% of that is 35 coins and he has only 30 coins, all of that coins will be burned during a burning process. But luckily, If he invested in this round more than 20% that he had before nothing will be burned from him in this round.
2) Buy-back burning process
In order to push up coin price there is defined a fund which will be used for buying back coins at the market and burning it. Before each ICO this fund will be used for buying coins at the market from someone who would like to sell them. After the coins are bought they will be immediately send to an address that is not in use (will be burned). Just for having a big picture, each second coin will be bought back from investors and will be burned. Having that said, and keeping in mind that there will also be new investors willing to invest, there will be always enough demand at the market for RICH coin which will produce steady growth and guaranteed profit for investors.
At the end, there will be only 100.000 coins left with 1 billion dollars invested in (approx. 10 000 dollars per each coin) and about 500 million dollars in humanity fund (described below)!
How to prevent coin burn?
There are few ways of having coins and avoiding to be burned.
Buy more! - if you are owner of poor coins (your coin share is too low) you have an option to buy more coins either at the market or waiting for an ICO and buying at better price. Buying them you will have more coins and they will not be that poor, so you can prevent burning during ?burning poor? process. You need either to be above burning line or to buy 20% more than round before.
Sell them all! - If you can?t keep track with always buying new coins and preventing ?burning poor? process that means that you are in fact poor and this game is long term not for you. But don?t worry, you can still buy coins, hold them some time and sell them for bigger price and take a profit.
Humanity fund
During continuous initial coin offerings it will be collected around a one billion dollars! During that process, 50% of all collected funds will be sent to different humanity organisations for well defined proposes. All coin owners will be able to vote for the best purpose.
At the end there is a human purpose all building most valuable coin at the market and collecting up to 1 billion dollars! Half of the collected money during ICOs is going to be spent on various charity projects and programs. Organisers will going to provide a few options for which money can be collected and at the end investors will be able to make a decision where the money will go.
|
