Revain, a blockchain powered platform that allows users to share genuine reviews about services and goods who recently collected $854,000 within 30 minutes of during its presale, has announced its crowdfunding.
The campaign starts on August 21st and will last for 2 weeks until September 6th. The goal of crowdsale is to secure funds for R&D and cover platform-related costs. The token sale has a 2,000 BTC soft cap and will be followed by a continuous issuance stage with a hard cap being 8,000 BTC.
The following is the list of accepted currencies:
Bitcoin, Bitcoin cash, Etherium, Etherium classic, Dash, Dogecoin, Litecoin, Monero, NEM, Litecoin, Peercoin, Namecoin, Zcash.
The Revain crowdsale is to become the first precedent to accept such a wide variety of cryptocurrencies, including Bitcoin Cash.
During the crowdsale, 70% of R-tokens will be available for exchange based on a fixed formula.
The remaining 30% will be distributed as follows: 20% to the team, 10% for advisors and bounty program participants. The Revain ‘R-token’ is based on Ethereum with the standard token interface ERC20. ERC20 allows investors to use the token using any Etherium client, for instance, Mist or MyEtherWallet reducing the risk of losing funds in case the system malfunctions.
Revain’s ultimate vision is to create a user-friendly interface allowing businesses to get genuine customer feedback about their products and services as well as users to learn about other people’s experience and share their own feedback.
Project lead and Revain CEO Rinat Arslanov said:
“At the moment the ICO review market has no analogs to Revain, and we are truly excited to launch our platform where users are incentivized and fairly rewarded for their contributions.”
“The crowdsale – as well as the forthcoming token creation – is based on smart contracts operating on the Ethereum platform. If users wish to support the team, they would simply need to send cryptocurrencies or other blockchain tokens.”
The team believes they are in the midst of developing a breakthrough review platform implementing blockchain technology making sure that the feedback the users leave is authentic. The authenticity is achieved by the operation method where review fragments are processed by artificial intelligence and manually and then are saved into the blockchain.
Accordingly, there is a guarantee that those comments won’t be edited later. The KYC-system features are used to provide super organic reviews and minimize the risks of fake ones. The businesses on the platform, therefore, can always get an adequate feedback from Revain users – real customers, which allows them to take their product or service to the next level. The platform token called RVN is used to motivate users to leave only legitimate reviews.
The token source code is available in the Revain White Paper.