Insurtech startup from Russia announces start of international crowdfunding campaign and releases Risk Sharing Tokens on Ethereum
REGA Risk Sharing – developer of decentralized crowdsurance platform based on smart contracts, scoring systems and artificial intelligence technologies, – announces Risk Sharing Tokens (RST) emission on Ethereum and starts ICO campaign.
ICO campaign starts on September 15th, 2017 at 10:00 (UTM) and will last until the maximum volume of RST distribution is reached.The number of RST tokens issued during ICO – 10 000 000. The number of RST tokens for sale during ICO – 50%+1 token (5 000 001).The price of RST tokens during ICO campaign is 0.1 ETH/RST. Early birds investors can buy RST tokens at special price of 0,05 ETH/RST.
ICO campaign will proceed in three stages:
- Stage 1: Pre-Sale (September 15, 2017 – October 14, 2017) – number of RST tokens at sale – 30 000 at the price of 0.05 ETH/RST;
- Stage 2: ICO opening days (October 15-16, 2017) – number of RST tokens at sale – 800 000 at the price of 0.08 and 0.09 ETH/RST;
- Stage 3: ICO (starting from October 17 till the end of campaign) – number of RST tokens at sale – 4 170 001 at the price of 0.01 ETH/RST.
Funds raised during the ICO campaign will be used to shape REGA Superpools to ensure effective operation of the REGA Risk Sharing model. RST token owners can vote on REGA risk management key issues and receive reward for participation in platform operation questions up to 3% from the collected funds.
RST token can be converted back to ETH at the rate of: reserves/number of tokens sold*20%. In addition, the increase of the tokens price according to the above formula will be ensured by reserves amount increase resulted by successful operation of the risk management models on REGA platform. The funds will be used for the development of REGA platform and creation on its basis a full-featured platform for insurtech products developers, with a wide range of API tools and tools for compiling smart contracts.
In the nearest future, REGA plans to expand the geography of Lexi Club mutual pet crowdsurance solution on European markets, Asia and USA. In next steps REGA will extend its portfolio with crowdsurance products for mobile devices (REGA gadget protection), private property (cars, real estate), human health, and the development of a comprehensive crowdsurance system.