RxEAL is a platform for secure rental deposit storage on the Ethereum blockchain, which also offers decentralized dispute resolution. Its main focus is on real estate and automotive rental markets, however, the platform can be easily implemented in other business sectors as well. In February, RxEAL is launching an ICO (Initial Coin Offering) and those who are interested in being a part of a future business solution, can purchase their tokens with a 100% bonus in the pre-sale starting January 15th.
RxEAL is a solution that can change the way people have dealt with security deposits so far and significantly improve the process of doing so in the long-term. The facts are loud and clear – globally, almost 50% of all security deposits are subject to disputes that destroy value for everyone — landlords and tenants alike. EUR 6,000,000,000 are lost annually due to disputes in the UK alone.
With the growth of the sharing economy, rental services will become more common in different businesses. Accordingly, issues associated with security deposits will increase. The RxEAL approach eliminates the possibility of breaching the contract terms, hence solving the issue of trust associated with rental deposits.
How RxEAL works:
- On the RxEAL platform, users are able to generate smart contracts based on terms both parties have agreed on.
- The contract will ensure that the deposit amount is stored securely on the Etherium blockchain throughout the term of the agreement.
- In the event of a dispute arising regarding the final split, the platform will provide decentralized and independent arbitrage conducted by qualified members who earn RXL tokens for resolving the dispute.
Case study
An international medium-sized company renting 200 apartments for its employees and five office spaces for a year with a median rent of USD 1,000, would on average leave USD 205,000 in security deposits, assuming that deposits are equal to one month’s rent.
Assuming a 50% rate of non-returned security deposits, the company potentially saves USD 104,500 per year in addition to savings of tens of thousands of USD on costly dispute-related expenses and time-consuming money transfers by using RxEAL as its security deposit storage and dispute settlement solution.
RXL token sale
You will be able to buy RXL at a fixed price during the token pre-sale and sale.
Early token pre-sale and sale participants will be able to benefit from the bonus rates RXL will be distributed at. The base price for RXL is 0.0025 ETH, while the bonus price for pre-sale participants will be fixed at as low as 0.00125 ETH. Additionally, RXL token holders will be able to enjoy first use of the RxEAL service during the limited access development phase.
Dates to note:
- Public pre-sale: January 15th, 2018 at 12:00 UTC
- Public pre-sale ends: February 2nd, 2018 at 12:00 UTC or upon reaching the pre-sale cap.
- *Pre-sale participants can buy RXL tokens with a 100% bonus at a fixed rate of 0.00125 ETH.
- ICO start date: February 19th, 2018 at 12:00 UTC
- End date: March 21st, 2018 at 12:00 UTC or upon reaching the token sale hard cap.
