Hello REX Community!
We are pleased to announce that the REX contribution period will kick off on Monday, July 31st at 4:00pm UTC. The duration will be four weeks. The REX token sale contract address is:
REX tokens will be distributed according to the following schedule:
Week #1: 1,000 REX Tokens per /1 ETH of Contribution;
Week #2: 900 REX Tokens per /1 ETH of Contribution;
Week #3: 800 REX Tokens per/1 ETH of Contribution;
Week #4: 700 REX Tokens/ per 1 ETH of Contribution
With the goal of offering a fair and distributed token sale, we evaluated a number of contribution models and creative solutions enacted in recent sales. Subsequent to our evaluation, we realized most processes utilized resulted in unanticipated adverse effects. Therefore, we decided to keep the REX token sale simple. We believe the REX token sale contract has a sufficient buffer in the CAP and an adequate time horizon to satisfy the interest we’ve documented in our Slack and social media channels.
The contribution period will conclude when one of the two following variables is met:
1. Conclusion of the four week contribution period
2. Security cap is met: 133,333 ETH
REX Token Pools.
The creation of REX Tokens issued will depend on how much ETH is contributed.
Pool A (Token Sale) consists of 50% of the Total REX Token Supply. Pool A will be allocated to users who have made contributions during the token sale.
Pool B consists of 20% of the Total REX Token Supply. Pool B will be allocated to the Listing Reward Contract on the REX platform.
Pool C consists of 5% of the Total REX Token Supply. Pool C will be allocated to angel investor.
Pool D consisting of 15% of the Total REX Token Supply. Pool D will be allocated to persons who participated as managers, founders, worked to develop the ideas, implementations and supporting structures of the REX Project.
Pool E consisting of 7% of the Total REX Token Supply. Pool E will be allocated to partners and/or advisors of the REX Project, as well as to participants of Bounty campaigns.
Pool F consisting 3% of the Total REX Token Supply. Pool F will be allocated to corporate affiliates.
Security is of utmost importance during the REX contribution period. We are taking several important steps to ensure the REX token sale does not become corrupt.
We will also use the ENS Domains:
As an an additional security measure, we are contacting Nick Johnson at the Ethereum Foundation about obtaining the subdomain: rex.thetoken.eth. We will update the community if and when rex.thetoken.eth is up and running.
The token sale contract is based on the OpenZeppelin framework. We have contracted with OpenZeppelin on the creation and testing of the REX token sale contracts. We are also working with Matthew Di Ferrante, who has previously worked with members on the Ethereum Foundation and recently audited a large exchange’s smart contracting infrastructure that will handle millions of tx’s per day. Matthew’s audit can be found here.
On the day of the token sale, please review the address on the token sale page and cross reference it with at least two of our verified social media accounts (listed below) before contributing. We will continually post the token sale address over our channels throughout the next week.
Again, the REX token sale contract address is: 0x99d439455991f7F4885F20C634c9a31918D366E5
The token sale contract will only accept ETH. Please do not send ETH from an exchange (Kraken, Poloniex, Bittrex, etc). Contributors are advised to send contributions from Mist, Parity or Myetherwallet.com.
We will release videos on the token sale page detailing how to participate using the above wallets. Please check top level domains and adhere to basic security principles before contributing.
We will never ask for money or information in Slack or any other social media accounts we operate. Please pay attention to the handle on our social media accounts.
The following are REX official handles:
For additional security advice, we recommend the myetherwallet.com post.
REX tokens will be issued to the address from which you contributed immediately upon depositing funds, however, they will not be tradable until the expiration of the sale. We are working on getting REX listed on several exchanges and will release announcements as progress is achieved.
You can find the REX token sale page here.
We want to thank the REX, Ethereum, and real estate community for the continued support and enthusiasm. We look forward to the continued development of the REX platform!
To see the REX pre-alpha, click here.
Check out our YouTube channel where you can find our newest videos including our brand new REX TV video series with REX’s very own Lauren Glasses. She will be interviewing brokers, lenders, developers, and technologists on real estate, Ethereum and all things REX! https://www.youtube.com/channel/UCNbMtTeAfZ2xF-mVtici9Qg
This article republished with permission of rexmls.
The original article published here.