Blockchain startup Revain, which plans to create a tokenized platform for user reviews, announced the start of the crowdsale on August 21.
Revain will collect, publish and store investors’ feedback on projects that attracted investments during the ICO. It will also store feedback as on cryptoexchanges and more traditional business (check our blog).
All reviews will be subject to automatic verification. They will be registered in the blockchain and published without the possibility of subsequent modification or deletion.
As a defense against abuse, any company that disagrees with criticism reserves the right to publicly challenge the review by attaching a commentary with possible counterarguments to it.
Revain — RVN and R tokens
Authors of published reviews will receive internal RVN tokens as remuneration from the reviewed company. You can convert RVN’s tokens circulating between companies and review authors into R tokens. The upcoming ICO will use R tokens. They will be available for trading on key cryptoexchanges shortly after the launch of the project.
Thus, users of Revain form a public history of opinions about each particular company. They also gain access to similar data on projects that hold interest to them. On the other hand, companies, motivating users to send quality reviews, get an objective assessment of their work.
Prospects of Revain
The growing capitalization of the ICO market and the community’s need for new ways of evaluating potential investment proposals point to significant prospects for Revain. The excitement around the pre-sale of August 8 has already brought about 850,000 $ to the project.
By the opening of crowdsale, scheduled for August 21, Revain produces 1 billion R tokens. 70% of them goes to investors. Another 20% will go to the operational needs of the project. Last 10% will go to the advisers and participants of the “bug bounty” program. Developers expect to collect 8000 BTC for two weeks.
Fundraising and release of tokens will be tied to smart contracts in the Ethereum network. That will allow investors to work with R tokens through standard wallets and wallets compatible with Ethereum (check Ethereum).
Investments will be in Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash, Monero, Zcash, NEM and other popular cryptocurrencies.