Welcome back to my blog regarding #REMME.
For previous three blogs about the REMME you can visit the title links here :
REMME : What problems does REMME solve?
REMME : What is REMME’s killer features?
REMME :- How do you understand the project?
Read them to refresh your mind with what exactly #REMME is and whats the point of todays blog!
In the current blog we will be discussing all the stuff reading the REMME's utility token that is called as #REM Token/Coin.
Lets understand first what it is meant by token and how they are helpful for the REMME here.
A token is issued to the share holder, certificate holder (private), and is identified by the REMME as unique one when they hold #REM coin in case of this project itself. Thus it is more or less a symbolisation of the REMME project where they can give uniqueness to holders. We will discuss this in further details mention down below.
Details of #REM COIN
When an #ICO was launched for the REMME project then at that time REM had price equivalent to ETH in the following manner :
Type of Coin : ERC 20 Standard coin. Supported wallets are ERC 20 based.
Valuation of Coin :
1 ETH = 21,250 REM
At the time of this rate value of ETH was equal to $ 850 and thus gave 1 REM coin = $ 0.04 value.
If you ever want to send the REM then your Gas Price has requirement of gas limit should be equal to 300,000 , gas price — 50 gwei!
Definition of REM :
- REM is a utility token. It powers all operations within the ecosystem and serves as a digital key for gaining access to REMME PKI (d) protocol and DApps.
In the picture above you can see the minted symbol of the REM coin and basically they have violet coloured theme. There are around 1 billions coins were generated during the ICO phase.
REMME decided to have the public hard cap of 20 million USD and they did reached the fund raiser amount of 14 million leading them towards the closer goals.
How did ecosystem was set by Token Distribution ?
We will know regrading this topic by discussing it over the diagram represented below.
As seen out of 1 billion tokens almost 50% were put forth straight for the ICO sale. The next distribution was pretty excellent one for many reasons of vesting and cliff holding of the coins so that there wont be any dumping of the coins. This included the distribution of stakes in between the advisor, partners, team and founder themselves, giving away 40% of total economy to them. But they have it in the cold storage and thus no selling of those holding will be done giving it perfect opportunity to grow step by step.
Apart from this 10% of the coins are reserved for the further developments.
Remme successfully achieved the hard cap which they always wanted to reach and then distributed the money for the real purpose of projects. Their ecosystem contains usage of REM according to the department and the stakes were distributed to them as per the diagram below :
Whopping 35% of the share was put forth in the R&D so that they can keep bringing new ideas to life and the ecosystem of the REMME.
They are also giving importance to the marketing which becomes the prerequisite for any project so that investors can know about it and REMME allocated 15% to it.
Deep Insights of REMME ECOSYSTEM!
- REM is a fuel to power up the REMME distributed ecosystem. This fuel as discussed earlier can give you access to the important stuff over the REMME ecosystem and that includes :
| A Certificate Generation
| B Certificate Revocation
| C Establishing a Node
| D Fees for Fiat Conversion
Price Stability :
REMME ecosystem is made such that it depends on the bitcoin anchoring of its blockchain which is custom one. This gives rise to the different sphere which is tuned one and thus keeps the prices of REM coin upto the mark and stable. REMME itself defines this procedure as best one and it can literally provide state of the art standards.
Below is the perfect protocol from the #REMME itself which explains that how REMME ecosystem flows from bitcoin blockchain nodes to the custom blockchain nodes of the REMME itself.
The DApp layer feature adds up another atmosphere here giving the prices out of different ayers.
Fees distribution patterns were pre-defined by the REMME in their whiteapper where they stated that if they raise more than 10m in the funs then 90% of the funds will straight go for storage purpose on the master node account and 10% of them will go to REMME for maintaining the different services, maintenance and blockchain anchoring etc.
