Nov 7, 2018
Rate3 is a decentralized dual protocol covering asset-tokenization and identity management. It serves to help bridge enterprises and their users with the public Stellar and Ethereum blockchain networks, allowing users to enjoy fast, low-cost transactions as well as reusable digital identities upon consent. Rate3 successfully completed its RTE token sale in May 2018 with thought-leaders such Matrix Partners China, Signum Capital, Node Capital, Fenbushi Digital and FBG Capital leading the round. RTE is currently trading on 10 exchanges including Huobi, Bitfinex, Bibox and FCOIN. For more information, please visit their official website and official telegram group.
Asset Tokenization Protocol:
Rate3 works closely with licensed, independent trust companies to provide absolute legal guarantees on asset ownership rights for token holders. Each token holder gains peace of mind from the knowledge that a reputable, government-licensed trust company is guaranteeing the redeemability of the tokens they own for the backing asset, and that they are entitled to legal recourse should these ownership rights not be fulfilled. Rate3 also complies strictly with local regulations based on guidance provided by legal advisors. Such a model ensures full transparency and confidence in any asset token of this protocol.
Reusable Digital Identity:
The industry-wide shift towards greater customer personalization has seen nearly all applications requiring users to link their app usage with some form of identity. It is therefore beneficial to have an identity protocol allowing users to, upon consent, tap on a single, reusable identity, tied to the various wallet addresses that they control, that in turn syncs to the many future applications of both Ethereum and Stellar ecosystems. The same would apply as well to future applications of tokenized assets too (e.g. a platform for investors to trade fractional artwork via tokens representing ownership). This would reduce duplicated KYC efforts, which would have been otherwise necessary, along with the consequent potential data breaches that could occur.
Secure and common legal framework
Rate3 works closely with licensed, independent trust companies to provide absolute legal guarantees on asset ownership rights for token holders. Each token holder gains peace of mind from the knowledge that a reputable, government-licensed trust company is guaranteeing the redeemability of the tokens they own for the backing asset, and that they are entitled to legal recourse should these ownership rights not be fulfilled. Rate3 also complies strictly with local regulations based on guidance provided by legal advisors. Such a model ensures full transparency and confidence in any asset token of this protocol. In doing so, this avoids the opaqueness and uncertainties around ownership rights which have plagued other projects in the past.
Openly-compatible, reusable digital identity
Ethereum today occupies by far the largest share of application-development activity within the blockchain space, owing to the programming flexibility provided by its Turing-complete programming language. Conversely, Stellar’s payments-optimized blockchain design allows for applications built on top of it enjoy fast and ultra-cheap transaction fees. 100,000 transactions on Stellar today are approximated to cost less than USD 0.01 to execute, with each averaging 3-5 seconds in settlement time. Rate3 is currently built to be interoperable with both the Ethereum and Stellar public blockchain ecosystems (with more planned for the future), enabling it to draw on the key unique value propositions of each.
Q1 2018 Conceptualization
Q2 2018 Development of Rate3 Network
Q3 2018 Development of Network Apps and Interfaces
Q4 2018 Empowering shoppers
Q1 2019 Empowering Merchants
Q2 2019 and beyond
Attention. There is a risk that unverified members are not actually members of the team
$31 300 000
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.
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. Link30-May. Sergey: I partcipate in it because of funds. It is Medium Interest with red flags.
Advantages.1. The project that makes stellar's overseas payment easier in reality2. 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 point1. 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.
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