The unfortunate recent happenings in the world of cryptocurrency lending platforms has created a dent in investor confidence and the negative sentiments that are floating around are unmissable. There has been an increased urge towards lending platforms to create regulatory-friendly policies that make it more trustworthy for investors. As part of our endeavor to instill confidence in our loyal investors, we are hereby introducing changes in our lending program policies along with some major platform overhauls. These changes are being made to our payment, distribution and coin purchase plans and will empower our investors with flexibility in their transactions with us. Here are the details.
Price reduction for All Rounds of ICO (Except Pre-ICO) as follows:
Round 2: Pre-sale Price extended at $0.69 per RCA
Round 3: $0.90 (Earlier $1.10)
Round 4: $1.05 (Earlier $1.35)
Round 5: $1.15 (Earlier $1.50)
Also Note, out of 1,260,000 Total RCA Coins from Pre-sale round, we sold 1,008,000 and kept the remaining 252,000 for ourselves.
1:1 Bonus added for Coin Purchase during all 5 rounds (including Pre ICO Round) We will now be selling only half of the number of coins, the other half will be distributed as a bonus among the investor at a 1:1 ratio. So, if an investor purchases 100 RCA during our ICO, another 100 RCA will be awarded to them as a bonus. But the bonus coins will be locked for lending only. In simple terms, any investor who buys 100 coins will receive 200 coins in total. Of which, the bonus 100 coins will automatically be locked by the system and entered into our lending plan, kick starting the daily income for the user after lending starts on our platform. The other 100 RCA can be used for trading, selling or multi-currency exchange once our internal exchange opens.
Lending Interest Investors will now receive DAILY interest on their investments instead of the WEEKLY interest as per the earlier plan. They will also have the freedom to withdraw their interests daily or reinvest it with us to maximize their benefits utilizing our compounding interest feature. The interest component would be paid in the user's basic (Lent) currency. For example, if a user has lent BTC, he will get paid his interest in BTC and if he switches his currency to some other one, he would then get paid in his new currency. Users also have the option to withdraw any portion of their interest (half, one-third or any other percentage) and reinvest the remaining portion into the lending plan. This interest plan also applies to the interest earned on the locked coins (bonus) after a month (30-day) time period from the start of their lending plan.
Other Lending Options We are considering several options of lending including "Hosted Staking", as we look to long-term sustainability of the program. As Staking is legally valid in the US, this may prove to be a game changer for the program in the long run. Terms and conditions for Hosted Staking will be determined in the Final Round of the ICO following a Ricona community member’s poll.
Early Withdrawal Option (Full/Partial) for all Lending Plans (Not applicable on Bonus Coins) Apart from the unique, best-in-class features at the Ricona Lending platform, we are also the first in the industry to offer early withdrawal options of your Full/Partial investment with Ricona, irrespective of the currency or lending amount or period. This withdrawal period can be as less as 30 days. In simple terms, you can withdraw your entire investment or a part of it by paying a nominal withdrawal fee (applicable on the principal amount) after 30-days from the start of your lending period. Following is the withdrawal fee for partial or full early withdrawal (irrespective of lending amount):
Length (days) Early Withdrawal Fee
30 10%
60 7%
100 5%
Buyback Option Added We now offer a Buyback option after the ICO ends with a maximum cap of 20% of the total coins purchased at the average user buying price. For example, if a user purchased 1000 RCA during different ICO rounds with the average buying price of $0.90 per RCA, then he has the option to sell back 200 RCA, which is 20% to us at $0.90 per RCA, after our internal exchange opens. All other ICOs do not offer a buyback program until their coins are listed on an external exchange. Note: The buyback option will ONLY be applicable on your Purchased coins and NOT on your Locked (bonus) coins. One of the reasons why we have introduced the buyback option is because we are confident that RCA has excellent long-term prospects. This allows us a strong capital position to buyback coins which will ultimately help improve stability and boost price over time.
Anti Dumping Policy To avoid huge dumping of RCAs when the internal exchange opens, We will put a maximum Cap for selling RCAs worth US$3k every 24 hours with a weekly cap of US$10k. In simple terms, no one would be allowed to sell RCAs worth more than US$3k every 24 hours OR US$10k per week.
Policy for Unsold/Unallocated RCA Coins Any RCA Coin(s) left unsold or unallocated during the ICO will be destroyed permanently and there will never be additional release or creation of coins, ever.
Funds Withdrawal Policy If a user is not able to buy coins during the ICO or if he changes his mind and chooses not to buy any coins for any reason, he will be allowed to withdraw all of his deposits out of his Ricona wallet at any time.
Have Some Other Queries/Concerns? Please contact us at Support@Ricona.io to get a quick response from our team