Remechain is proud to announce the development of the world’s first decentralized scrap metal marketplace based on blockchain. The platform aims to standardize the global scrap metal market by unifying market participants on a safe, secure, and accessible platform.
Scrap metal recycling is a 3 times cheaper way to get ferrous for casting of industrial products. In 2016 alone, the global market trade volume for secondary metal exceeded $106 billion. This volume is expected to grow exponentially in the coming years. However, the market is still highly inefficient, characterized by procedural barriers, lack of counterparties verification, widespread fraud, inflated logistics costs, and inaccessibility to newcomers.
Remechain has competitive advantages over traditional intermediaries in the scrap market. The platform provides a much wider volume of information and services to support market participants; all partnerships go through the system of transparent smart-contracts. It is reported that platform development already been supported by direct investment from a few private and strategic investors for a total $130,000.
- kRMC token: This is the operational token which is used for the settlement of transactions and manage the rate volatility of national currency on the international market. This token can be purchased by Remechain marketplace participants.
- iRMC token: This is the investment token which is used to finance the development of the project and can only be purchased through a public token offer.
Remechain public token sale details.
Pre-ICO started on November 9th and ends November 25th. Remechain plans to sell up to 600,000 iRMC tokens with an additional 20% bonus to all purchases. Pre-sale soft cap is 160,000 iRMC, approximately $160,000.
The main ICO starts January 25th and ends February 25th. $6,000,000 iRMC will be made available during this event.
Funds generated from the crowdsale will be used for the further development, launching and promotion of Remechain platform in emerging market located in Russia (5.6 million tons), Turkey (16.2 million tons) and Germany throughout 2018 and 2019. By 2020, Remechain aims to launch in Asia (93 million tons) and Africa as part of its global marketplace strategy.
- Income generating as 1% commission from the cost of each deal concluded through the platform.
- Remechain will buy-back and liquidate tokens quarterly to support their growth. Half of income will be distributed between token-holders in the form of dividends.
- Buybacks and dividend distribution will commence by the end of July 2018. First dividend distribution has been estimated at $800,000. This sum is expected to grow annually as Remechain penetrates the market.
Team and advisors.
The founder of Remechain Ivan Myasoedov, a Russian businessman who has successfully launched and managed three scarp market-related companies.
Remechain Project advisors include:
- Vivek Tomer: A seasoned professional in scrap classification.
- Gennadiy Sidorenko: Technical expert in automated systems creation.
- Alexander Andreev: Market and price assessment specialist
- Third by size scrap recycling company in Russia
For more information see the Remechain white paper.