After a year of successful mining by the Remitano Network users, the development team are thrilled to announce the official launching of the platform’s Mainnet where RENEC will go live trading even on cross-chain.
Remitano is one of the largest peer-to-peer (p2p) cryptocurrency trading platforms in the world, currently serving users in more than 30 countries. The platform provides an escrowed p2p crypto marketplace allowing users to buy bitcoin and cryptocurrency easily and safely.
The according to the information made available by the development team of the network, the launching will be done in three stages and all will be completed within the month of October. The first stage is the gensis block launch. The launch period will be from October 1, 2022, till the end of October 5, 2022.
Stage 2 is the mainnet stability test phase. During this phase, the development team will perform the final tests to ensure the network is operating as stable as possible. This phase is expected to last from October 6, 2022, till the end of October 19, 2022.
After the mainnet undergoes stability tests, users can officially use the network to perform transactions such as depositing or withdrawing RENEC and exchanging RENEC with {Remitano’s Swap](https://remitano.com/swap) feature while the Stage 3 or final stage is expected to start on October 20, 2022.
RENEC Tokenomics
The absolute stock or total supply of RENEC will be reported during stage 1 of the mainnet cycle (October 1, 2022 – October 5, 2022). The supply of RENEC at the time of mainnet is structured to include components with the approximate allocation as follows:
- Miners community supply is expected to account for: 42% of the total supply.
- The supply of the development team (Core Team) is expected to account for: 17.5% of the total supply.
- Liquidity supply is expected to account for: 7% of the total supply.
- Supply for marketing activities is expected to account for: 10.5% of the total supply.
- Treasury is expected to account for: 14% of the total supply.
- Dapp development fund and ecosystem: 9.1% of the total supply.
The specific amount of RENEC by part of the supply will be announced precisely during stage 1 of the mainnet progress when the RENEC mining program ends.
In case you are not aware
- Remitano is one of the largest peer-to-peer (p2p) cryptocurrency trading platforms in the world, currently serving users in more than 30 countries. The platform provides an escrowed p2p crypto marketplace allowing users to buy bitcoin and cryptocurrency easily and safely.
- Miner community supply is approximately 42% of the total supply. Unverified miners’ RENEC (KYC Level 2) will be burned entirely after September 30, 2022, when the mining program ends.
- Headquartered in St Vincent and the Grenadines, Remitano offers services to over 30 countries worldwide. Supported countries include but are not limited to Cambodia, Ghana, India, Kenya, Malaysia, Nigeria, Pakistan, Singapore, South Africa, Venezuela, and Vietnam.
- 50% of the RENEC in supply will be put into the liquidity pool. The remaining 50% will be exchanged into USDT through a deal with Remitano and locked vesting in 6 months.
