Rate3

Rate3

Created using Figma
Created using Figma

Last Update

Apr 6, 2018

Rate3 is a new payment token built on top of the Stellar blockchain to inspire a world of payment without borders. Rate3 will be the native cryptocurrency used in a new global e-commerce ecosystem to help consumers, merchants, suppliers and other intermediaries transact efficiently, cheaply, securely and quickly. We have existing products and revenue, users, a proper business model and very reputable advisors. The founder is also the chief advisor of several foundations (Odyssey, DATx) The team is made up of top software engineers from NUS, Stanford & NYU.
Sale
Apr 15, 2018
Jun 1, 2018
100% completed
$17 500 000
70000% goal completed
Goal 25 000 USD
past
Token Details
Ticker
RTE
Accepted Currencies
ETH
Additional Details
MVP/Prototype
Yes
Platform
Stellar & Ethereum
Whitelist
Yes , from Apr 16, 2018
KYC
Yes
Categories
Cryptocurrency

About Rate3

Rate3 aims to empower a flat global economy for global cross-border commerce to thrive and include all participants. Several conditions are thus required:

  1. Transparent and simple payment process for all parties
  2. A system in which trust is decentralized amongst all parties
  3. Fast processing time for merchants to receive payments
  4. Easy access to credit for consumers

We will do this by creating an ecosystem with three key features:

  • Single token payment solution
  • Transaction and credit scoring system
  • Incentive and reward system for all participants

Features

Single Token Payment Solution:

Cross-border payments within the ecosystem can be completed with only one step and a one-time fee, making them up to five times cheaper and a thousand times faster, compared to current payment processes. For consumers, they can convert fiat currency to Rate3 tokens easily and use the tokens to pay for cross-border purchases in a transparent fashion. For merchants, a simple integration with the Rate3 payment gateway allows them to accept Rate3 tokens and convert them to local fiat currencies of their choice easily.

Transaction and Credit Scoring System:

The blockchain will record information captured in all transactions including but not limited to: time required to make the transaction, wallet addresses, warranty conditions, delivery time, reviews, etc. Apart from helping both consumers and merchants solve claims or fraud, the smart contract will automatically change the trust level for each of the parties involved.       

Additionally, by tapping on the consumers’ transaction history and other identity data, Rate can issue a credible credit score to these consumers and offer them affordable credit through partnerships with other lending institutions.

Incentive System for All Participants:

The value of any ecosystem lies in the two-sided network effects. With more consumers in the ecosystem, merchants are more attracted to join the Rate3 network. Likewise, with more merchants, there are better incentives for consumers to join. With Rate3 tokens, cash-back incentives can be easily programmed through smart contracts to retain consumers. For merchants, they can create incentives for consumers easily too. Moreover, this can all be applied and facilitated instantaneously through the Rate3 network.

Technical Info

The concept of Rate3 is clear and simple: we require an equally clear, simple and yet sophisticated platform to manage our tokens. The key considerations in choosing a blockchain platform are reputation, security, speed, transactional costs and whether it aligns with the planned business solution.

Rate3 will be leveraging the Stellar platform for the issuance of $RTE tokens. Stellar is a highly sophisticated and secure platform for payments. It is trusted by major banks and reputable companies such as IBM, Deloitte & Stripe.

Development and management of proprietary blockchain solutions carry certain security risks that the Stellar platform inherently protects against.

The Rate3 concept development, ecosystem and solution is mature. Developing on Stellar will enable us to better focus resources on building consumer-facing applications, marketing, business development, and expanding acceptance across our target FX corridors.

Rate3 Roadmap

  • Q1 2018 Conceptualization

  • - Rate3 network concept development
    - Final Whitepaper released to public
    - ERC-20 Token Generation Event for network supporters
  • Q2 2018 Development of Rate3 Network

  • - Development of Rate3 network smart contracts on Stellar Testnet for Payments, Rewards and Credit Score
    - Alpha testing of Rate3 network on Stellar Livenet to improve company's existing internal operations
  • Q3 2018 Development of Network Apps and Interfaces

  • - Development of desktop/mobile multi-cryptocurrency wallet.
    - Development to support RTE payment on existing products.
    - Development for Merchant Platform and SDK help merchants to accept RTE payments
  • Q4 2018 Empowering shoppers

  • - Beta testing of Rate3 network with consumer apps
    - Launch to Singapore and SEA shoppers with purchase rewards
    - Token swap from RTE (ERC-20) to RTE (Stellar) for early token sale
  • Read More
  • Q1 2019 Empowering Merchants

  • - Launch to Singapore and SEA (merchants)
    - Expansion of network in SEA
  • Q1 2018 Conceptualization

  • ▪ Rate3 network concept development
    ▪ Final Whitepaper released to public
    ▪ ERC-20 Token Generation Event for network supporters
  • Q2 2018 Development of Rate3 Network

  • ▪ Development of Rate3 network smart contracts on Stellar Testnet for Payments, Rewards and Credit Score
    ▪ Alpha testing of Rate3 network on Stellar Livenet to improve company's existing internal operations
  • Q3 2018 Development of Network Apps and Interfaces

  • ▪ Development of desktop/mobile multi-cryptocurrency wallet. Facilitate onboarding to Rate3 network for consumers. Cross blockchain support to get more users and awareness.
    ▪ Development to support RTE payment on existing products. RateX and RateS will accept RTE alongside with local fiat
    ▪ Development for Merchant Platform and SDK help merchants to accept RTE payments
  • Q4 2018 Empowering shoppers

  • ▪ Beta testing of Rate3 network with consumer apps
    ▪ Launch to Singapore and SEA shoppers with purchase rewards
    ▪ Token swap from RTE (ERC-20) to RTE (Stellar) for early token sale
  • Q1 2019 Empowering Merchants

  • ▪ Launch to Singapore and SEA (merchants)
    ▪ Expansion of network in SEA
  • Q2 2019 and beyond

  • ▪ Geographical expansion and growing the ecosystem

Activity

Status:
Full Member
MEDIUM
Activity:
226
HIGH
Merit:
100
MEDIUM
Posts:
40
VERY LOW
Views:
703
VERY LOW
Status:
Full Member
MEDIUM
Activity:
226
HIGH
Merit:
100
MEDIUM
Posts:
9
VERY LOW
Views:
469
VERY LOW
Users:
9
VERY LOW
Followers:
29 028
VERY HIGH
Tweets:
570
VERY HIGH
Members:
97 131
VERY HIGH
Alexa
Rank:
223 063
HIGH
Delta:
-623 386
Year commits:
5
Watchers:
4
Stars:
6
Forks:
0
Open issues:
0

Team

Verified 100%

Co-Founder & CEO
verified
Co-Founder & CTO
verified
Co-Founder & CTO
verified
Senior Blockchain Engineer
verified
Country Lead
verified
Full Stack Developer
verified
Software Developer
verified
Blockchain Web Developer
verified
Marketing Manager
verified
UIUX Designer
verified

Advisors

Verified 0%

Attention. There is a risk that unverified members are not actually members of the team

2 ICOs

$31 300 000

Advisor
unverified

Rate3 Interviews

Jake Goh
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Check out why we started this journey here - bit.ly/rate3origins
Lim Jing Rong
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Co-CTO of Rate and Rate3.

The support we had on Rate3 was nothing short of amazing. The community that has grown around us in our social channels is outstanding, incredibly supportive and keeps growing day by day.

I'm cautiously optimistic about the Rate3 project - for us to fulfill our vision of developing a global, unified payment token that empowers buyers via transactional ledgers and establish trust & reputation within a decentralized network using smart contract functionality.
Davis Gay
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Payments should be easy, fast and cheap for everyone, including merchants. We will be working hard to build up Rate3 network and achieve our goals.
Waihon Chee
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I am in charge of blockchain related software development.
Albert Ho
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
.
Wu Di
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I am helping to build up the Rate3 network and integrating it with our existing products, RateX and RateS.
Andre Khong
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
As a software developer working on the project, I believe that this project has the potential to solve the current challenges in the global cross-border payment scene.
Adarrel Ho
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
My primary roll include designing and building the website as well as other digital creatives that involves the product. I think this is an excellent opportunity to utilize blockchain technology in the cross border ecommerce space, considering our company's experience in payments and commerce. I think there is a real need for improving backstage processes in the entire ecommerce ecosystem and this project will be the pioneers to embrace this technology.
Daniel Olivan
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
The Rate3 network is set to change the way e-commerce works by creating an efficient, fast, and reliable ecosystem of relationships between merchants and consumers.
Eunice Er
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
In charge of designing, developing and prototyping any user interface and experiences involved in Rate3 and its processes.

Last News

$ 0.0064
-8.05%
Coin Stats
Daily, %:
-8.05%
Weekly, %:
23.74%
Monthly, %:
-31.19%
Market Info
Market Cap:
$ 6.345 M
Volume 24h:
Circ. Supply:
996.210 M RTE
Ticker:
RTE
4.03
positive
5.0 9
ICO Profile Vision Activity Potential Product Team

Rate3 Reviews

icoscoring.com
ICO review website

Tough competition with similar blockchain projects Lack of significant competitive edge Lack of detailed competition analysis. Developments cannot be traced via Github Demo version demonstrates poor range of functions. Payments is the one of the most relevant industries for blockchain projects so in case of Rate3 blockchain and ICO are relevant and have rational grounds. Stellar is applied for higher transaction speed. Token is used in payments but the price in fiat is also indicated. Smart contracts are used for fair cashback. Transaction history is stored on blockchain for further credit scoring. Hardcap is 25K ETH and softcap is 20K ETH. For current stage of development these needs are overestimated. Having 40% of tokens for tokensale it results in 60K ETH of token pool capitalization. Current stage is presale with the cap of 5K ETH. First-come-first-serve principle is applied and the bonus is 20%. It must be noted that there are no investors with less than 20% bonus, so it means that the bonus must be ignored here. Maximum bonus has been given to strategic partners that has already purchased 60% of tokens. Half of the bonus is vested for 6 months. The team is based in Singapore and includes 18 members. The company has been operating for 2 years and RateX (including mobile version – RateS) is its core product. CEO does not have significant experience and was in management team in PlayDate (raised 500K USD on Indiegogo). CTO has 3 years’ development experience and 1 year as a mobile app developer. Other developers have less experience before entering RateX. Marketing director has 3 years of relevant experience.

Read More
ICO Drops

13-May. Sergey: They transfered money from their wallet, around 1000 ETH, which is suspicious. It increases risk. Project looks like Medium Interest. When there is such situation in Medium project I think it is better not to participate. Link
30-May. Sergey: I partcipate in it because of funds. It is Medium Interest with red flags.

Read More
ICO Pantera
A

Advantages.
1. The project that makes stellar's overseas payment easier in reality
2. By adding a blockchain to the payment system that was already commercialized and operated by a company called RateX, it enables worldwide payment. Almost all development has been completed.
3. Hard cap is not big and much investment is made in private stage. A strong team based in Singapore National University.
A complementary point
1. Ico The fundraising period has been slowed down. There were complaints from people in this regard.
2. They are still only supporting Singapore dollars. More substantive verification is needed.
3. They have partnered with a somewhat unidentified company called Brahma OS. Brahma OS is a group that spreads false facts that they are partnering with JP morgan, HSBC and Citi GROUP.

Read More
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