Ecosystem & Token Use Case
Development Plan/Road map
1.1 Executive summary
Multiple advantages are immediately evident when integrating blockchain technology into the real estate market, causing a positive impact that far exceeds an otherwise rather insufficient and regulated market as is. The merging technology set a new standard in the market, where it does not require the involvement of intermediaries like real estate brokers, realtors, agents, governments, or banks. Rather, it allows for exchanging data through a distributed ledger system that operates in a decentralized manner, providing high-value benefits such as security, privacy, and cost-efficiency to vendors and purchasers.
This new era of technology has profoundly altered the demand, which companies can not easily disregard. Hence, new blockchain businesses within the real estate market are consistently emerging, while numerous already-established real estate companies are adopting new methods in order to meet the demand. The shift is caused primarily by buyers and sellers that recognize its benefits, many of whom are also unsatisfied with the current market condition where authorities and financial intermediates have the upper hand. Yet, distributed ledger technology is a relatively new phenomenon; therefore, far from the majority of people involved in real estate (in one way or another) had enough time to recognize its potential. However, things are progressing rapidly with high potential to revolutionize the whole real estate industry; hence, the forthcoming years will be exhilarating, and Remint Network will play a significant role in this evolutionary event which is already taking place.
Remint Network is the solution to insufficient resources and poorly managed yet accepted processes (as mentioned previously) in the real estate industry. To address current market problems, our team will set out to build a platform that handles various forms of real estate deals. The platform will be fueled by smart contracts that enable individuals to make real estate deals, e.g., buying or renting out properties in a decentralized fashion through a peer-to-peer network. In addition, an adequate system will be in place to ensure that all trades conducted on the platform will be carried out in an environment providing high security, transparency, and cost-effectiveness.
As the project further evolves and matures, other financial products and services will be introduced, e.g., crypto-integrated debit cards, Remint fund, and NFTs, eventually completing the whole Remint ecosystem. But for now, we have created Remint token, which is a real estate cryptocurrency on the BNB Smart Chain. Our currency is minable (for free) via our mobile application ”Remint Network” which operates through a cloud-based mining process. In a later phase, Remint will list on various exchanges; hence, the token will acquire a monetary value and become available to trade with other cryptocurrencies or fiat money.
1.2 Cryptocurrency overview
To better comprehend the Remint project and associated white paper, our readers should have basic knowledge of blockchain and cryptocurrencies. Therefore, we advise those less familiar with the crypto concept to read this section (1.2), where some fundamentals of cryptocurrency are presented.
An introduction to cryptocurrencies
In 1983, American cryptographer and a professor in computer science David Chaum wrote a paper called ”Blind Signatures for Untraceable Transactions”. In this paper, he proposed a way to use a token currency that could be transferred between individuals in a digital cash system that could enable anonymous transactions. In 1990, based on his earlier released paper, Chaum created the first digital currency ever made, called eCash. Chaum is often referred to as the Father of Digital Currency as well as the Father of Online Anonymity.
Many more digital currencies followed (B-money, Bit Gold, and Hashcash, to name a few). Still, they all were considered to be before their time and many of them were in one way or another centralized, which conflicts with the essential core principle of cryptocurrencies, namely to be decentralized with no need for any intermediaries. However, it wasn’t until cryptocurrency was combined with a blockchain in 2008 that the term cryptocurrency started to gain usage, and the term really didn’t begin to appear widely until around 2012. Nevertheless, these rather imperfect digital currencies were all very influential in Bitcoin’s creation; the first successfully launched cryptocurrency, which gained mainstream attraction. Bitcoin was created in October 2008 by the presumed pseudonymous person Satoshi Nakamoto and is also the first decentralized cryptocurrency connected to a blockchain. At the time of writing, Bitcoin has a market cap of over $350 billion.
What are cryptocurrency and blockchain technology
Cryptocurrency is a form of digital currency that operates on a distributed public ledger called blockchain, a database containing a record of all transactions updated and held by currency holders. It is secured by cryptography, making it nearly impossible to double-spend or counterfeit, and its decentralized state ensures no need for intermediaries involved, such as governments and central authorities.
A blockchain consists of servers referred to as nodes (with different assignments) to ensure that a highly secure and decentralized environment remains intact by always reaching a consensus on truthful transactions and rejecting faulty ones. Each node contains a copy of the blockchain (the complete transaction history of all previous transactions made on the blockchain) and they communicate with each other and stay in sync, preventing bad actors from manipulating and corrupting the system. Besides recording blockchain data and validating transactions, nodes ensure everyone follows the rules set forth by the network.
If you own cryptocurrency, you do not own anything tangible. Instead, what you own is a key that allows you to move a record or a unit of measure from one person to another without a trusted third party. In addition, unlike traditional bank accounts that can be seized by government authorities, your assets can never be moved or spent by anyone without the possession of this so-called ”private key”. This gives the asset holder a high degree of protection against unfair influence but at the same time, a lost private key could not be recovered under any circumstances, and therefore a high degree of responsibility is also passed on to the asset owner.
An introduction to the mining process
Bitcoin introduced a process called mining (securing distributed ledgers) to address the challenge of maintaining security in a distributed record of transactions, i.e., to prevent fraudulent activity in an open and editable ledger. The mining process utilizes a consensus algorithm called Proof of Work (PoW), where a specific set of nodes ”Validators”, also called miners, communicate with each other to come to a consensus about who is trusted to update the shared records of transactions. Validators do not confirm transactions one by one, they will instead batch pending transactions into what are known as blocks. In the pursuit of verifying transactions, a Validator’s target goal is to add the latest block to the network, which is achieved by solving complex mathematical puzzles. The first one to solve the puzzle is eligible to add the latest block to the previous blocks (thus creating a blockchain) and receives a block reward (6.25 Bitcoins) as compensation for the difficult work.
1.3 Emerging blockchain technology within the real estate market
Blockchain is becoming more practical on a daily basis and countless corporations and entire industries are leveraging its useful technology to increase market shares and improve use cases in various fields. Among the world’s leading sectors that have adopted this tech, real estate is the most propitious.
Different blockchain-powered real estate companies have transformed the way this industry works just over the past few years, although the industry from a historical perspective, has been a slow mover when adopting new technology. Some of the leading blockchain real estate companies include; Republic, which is located in NYC and deals with investment opportunities within the private markets; SafeWire, primarily focused on offering a solution to the growing number of wire fraud challenges, which are considered one of the main setbacks for real estate agents, firms, clients, and the industry as a whole; RealT, an international company that is based on real estate tokenization, enabling fractional ownership of assets and a secured blockchain income. This, in turn, simplifies the entire process and allows the owners to collect revenue based on token shares. These are only a few, and the number of real estate companies with integrated blockchain technology is rapidly growing.
Multiple advantages come from combining distributed ledger technology with the real estate market, which companies can not easily discourage. From smart contracts to the clarity of ownership, blockchains also bring modernization to a global economic system passed over by digital innovation. Nevertheless, blockchain technology is still in its early phase. It does not yet fully permeate the real estate market, but it holds great potential for development that will ensure the forthcoming years will be exhilarating, and Remint Network will play a significant role in this evolutionary event that is already taking place.
The rapid cryptocurrency evolution in real estate is also fueled by the market – filled with buyers and sellers, many of whom are unsatisfied with the current market condition where authorities and financial intermediates have the upper hand. Blockchain does not require the involvement of intermediaries like real estate brokers, realtors, agents, legal officials, governments, or banks. Instead, it allows for exchanging data through a distributed ledger, providing security, privacy, cost-efficiency, and decentralization solely to buyers and suppliers.
1.4 What is Remint Network
Remint Network is a real estate cryptocurrency token on the BNB Smart Chain, with the core objective of transforming the real estate market through the integration of blockchain technology. As the project evolves and matures, Remint token will be listed on various cryptocurrency exchanges and several more financial products and services will be introduced, e.g., real estate dApp, crypto-integrated debit cards, and Remint fund, eventually completing the whole Remint ecosystem.
Remint Network is the solution to insufficient resources and outdated processes in the real estate industry, which is due to a lack of adequate technology, causing inefficiency and unnecessary expenses within the market on a global scale. To address this problem, our team will build a platform that handles various real estate deals fueled by smart contracts that enable individuals to make real estate deals, e.g., buying and renting out properties in a decentralized fashion through a peer-to-peer network. An adequate system will be in place to ensure that all trades conducted on the platform will be carried out in a manner providing high security, transparency, and cost-effectiveness.
In the beginning stage of the project, anyone with a smartphone can secure Remint tokens for free via our app ”Remint Network” and the procedure carried out to obtain tokens is a new and innovative process called cloud-based mining. This mining process is straightforward and does not require any in-depth knowledge of cryptocurrencies. In addition, the fact that your phone is not the actual mining device due to the process being conducted off-device means there is neither any noticeable energy consumption concerning your phone’s battery nor any harm imposed on your phone’s processor – Hence, no unfavorable effect occurs on your phone’s performance. Nevertheless, the phone fulfills a vital function, namely to record and communicate with our servers. On the contrary, commonly utilized mining operations such as the Bitcoin Network consume immense energy resources, requiring their network miners to invest in expensive mining equipment (supercomputers and high-performance chips like ASIC and GPU), have a great deal of in-depth knowledge of the crypto sphere (or more specifically mining), as well as paying pricey electrical bills.
Remint Network offers a method for anyone to earn cryptocurrency regardless of ethnicity, technical background, or experience in the crypto field. We sincerely believe that our application can create a globally accepted and beloved service providing financial wealth to the masses and that everyone using it shall be treated as equals in a peer-to-peer network. Through this democratic approach, we guarantee everyone their status as eligible with the same equitable advantage to earn cryptocurrency. We do not tolerate fraudulent activity; therefore, we have set up the earning system so that fraudsters have no incentives in the pursuit of manipulating the system. In addition, a KYC will be held in which users are obliged to participate before withdrawing their earnings.
1.5 Founding team members
Remint Network was founded in May 2021 by Max Hellström and Anton Broman. They met back in 2017 when they both worked as financial advisors at Santander bank (4th largest bank in Europe).
Both founders have been crypto enthusiasts since the beginning of 2017 after witnessing Ethereum’s sudden rise and recognizing blockchain’s true potential in numerous sectors, e.g., finance and real estate. Since then, they have accumulated significant knowledge and expertise in the blockchain field that spans nearly six years. Moreover, by actively evaluating the market, analyzing blockchain projects, and trading countless cryptocurrencies, they reached a point where they came to the conclusion to start Remint Network.
The core team has an arsenal of adequate resources that will carry Remint Network when achieving target goals. The whole team consists of professionals in various relevant domains, including; entrepreneurship, blockchain, marketing, finance, computer programming, fintech, and SEO/ASO. In addition to the core team’s combined expertise, we also have advisors in the real estate industry.
2.1 Problems in the current market
Unnecessary costs and fees
When transferring the ownership of a property, a high amount is charged in commission and additional professional fees, which causes the sale to be less profitable for the seller. In addition, closing costs and transactional fees are forced on the buyer (to an even greater extent if the purchase is conducted overseas), consequently reducing the buyer’s purchasing power.
Limitations and additional costs vary based on geographic locations
An even more cumbersome process is prominent when purchasing foreign real estate due to different country-specific laws and regulations that apply to different countries. Investment in foreign real estate may also be costly due to the accompanied exchange rate risk that may follow if the domestic and foreign country varies in circulating currency.
Involvement of intermediates
Requires a wide array of intermediates, such as real estate brokers, realtors, agents, governments, and banks. The involvement of these middlemen reduces profit margins and causes the process to be rather slow as well as redundant in terms of complexity.
Tedious process for transfer of property ownership
Lengthy and complicated procedures are standard when transferring the ownership of properties. Such a process includes negotiation, legal reviews, third-party reports, and closing procedures.
Vulnerability to fraud and errors
Traditional methods of property ownership registration are often vulnerable to fraud and errors. Due to the registration process being entirely managed by humans, genuine mistakes or misconduct caused by ignorance may be made by appointed third parties. Furthermore, false documentation or identity theft carried out by fraudsters is also an unfortunate probability in these asset transactions.
When comparing transactions carried out in a centralized system to transactions conducted on a blockchain, the centralized ones are insufficient in terms of speed, security, and transparency. Because the daily rate of real estate transactions is so immense, security and transparency are critical.
High entry barrier
Investing in residential or commercial real estate is excessively expensive, requiring huge upfront cash deposits; hence, small buyers are not eligible to invest, while bigger ones with considerable capital thrive.
High rental middlemen fees
The current rental market operates in a centralized setting, and therefore intermediaries such as booking services are involved in the rental process; thus, hosts and tenants suffer from high service fees.
2.2 Remint’s solution
Remint Network’s real estate platform provides a comprehensive solution to current market deficiencies, i.e., all problems mentioned in the previous chapter. By leveraging blockchain technology behind a new digital interface, vendors and purchasers can utilize a far more effective and profitable way to conduct business when transferring ownership of property assets or execute upon residential rental/lease agreements.
Our software will operate in a decentralized manner in a peer-to-peer network, thus eliminating redundant intermediaries in the process. When the product is finalized, and one fully comprehensive service is accessible to the masses, the domains in which the platform will operate are extensive. Examples of such domains are; The real estate rental market, the real estate market (including residential- and commercial properties and land areas), as well as the real estate investment sector. Furthermore, the investment sector includes two main classes, i.e., fractional ownership and singular ownership, which both will be covered by the platform.
By adopting smart contracts, transactions become more rapid, secure, and transparent by nature while also eliminating intermediaries, thus streamlining the contractual process. Thanks to smart contracts being immutable, their ledger can not be tampered with or altered by any party, providing a reliable alternative for transactions requiring trust, transparency, and anonymity. Smart contracts are, in addition, distributed, ensuring that the output of a contract is validated by the network, and any attempt to manipulate a smart contract will be rejected and marked invalid by the network.
By implementing smart contracts, Remint Network will disrupt the current market by eliminating redundant third parties from the process, enhancing markets’ liquidity and reducing associated costs and processing time. Through smart contracts, the need for real estate brokers, realtors, and banks is no longer required due to the execution of agreements being automated, where participants are confident of the outcome. Additionally, a favorable outcome will follow (by guarantee) if the predetermined conditions are met. In addition, this next-generation technology facilitates an otherwise rather complex process and streamlines the procedure of purchasing foreign real estate.
Remint Network seeks to establish a more decentralized marketplace in the real estate rental market without any reduction in quality concerning the provided service. Through the implementation of smart contracts, landlords and tenants are able to bypass expensive third-party intermediary costs, including brokerage commissions and service fees, thus increasing purchase power for tenants and creating higher profit margins for landlords, which in turn leads to an overall thriving market. Besides eliminating fees associated with rental agreements, all transactions conducted on the platform shall be in cryptocurrency, by default maximizing transactional efficiency.
Prevailing industry standards are causing high entry barriers in the real estate ecosystem due to the significant upfront capital required. To address this issue, an investment option for fractional ownership will be introduced via the Remint fund, which will democratize its access for small-scale investors. Through the deployment of tokenization, a pool of potential investors can come together and invest in fractional shares of ownership stake in that real estate and, therefore, not be limited to a onesided market with singular ownership as the sole investment option.
2.3 Benefits summary
Numerous benefits are clearly evident by leveraging distributed ledger technology and integrating smart contracts (supported by BNB Smart Chain (BSC)) into the Remint concept. You may also refer to the previous chapter (2.2) for a detailed definition of all benefits.
Transactions conducted on the blockchain are fast, secure, and transparent, even more so than traditional financial monetary transactions, which are managed by financial institutes.
By enabling smart contracts to manage the process when transferring ownership of real estate assets, it directly eliminates intermediaries and associated costs and processing time. It also facilitates the contractual process when purchasing foreign real estate.
The real estate platform will enhance the market in terms of purchase power and the market’s overall stability due to cutting out third parties and associated fees when utilizing our service. Consequently, both landlords and tenants will thrive in such an environment.
An opportunity will be presented where small-scale investors can invest in fractional shares of real estate assets, causing the entry barrier to be lowered and democratizing the real estate investment system.
Volatility is a risk most cryptocurrencies face that can significantly decrease returns. Remint Network will allow cross-transactions (with other cryptocurrencies) to counteract this potentially harmful effect when using our services, including the dApp and the Remint fund. So, for example, in the rental agreement, a landlord can choose to solely accept specific cryptocurrencies, as well as set the minimal number of cryptocurrencies that must be transferred for the deal to be accepted. This will ensure the spread of risk and lessen the impact of a potential negative volatility effect.
3.1 Remint’s total supply
A minimum of 550 million tokens and a maximum of 1.9 billion tokens will be issued.
Remint’s total supply is primarily determined by two not-so-predictable outcomes derived from the pre-mining process; the total amount of active miners at a given time and the total amount of coins pre-mined at a given time.
3.2 Implementation of incentives ensuring token scarcity
A vital part of the project is to ensure token scarcity and prevent currency inflation. This will be carried out through certain events and implementations mentioned below.
The team has decided to issue a relatively low supply of tokens compared to other cryptocurrency projects, which hold a similar distribution system where a pre-mint phase is organized previous to the exchange listings.
In addition to having a low total supply, halving events will be conducted that will decrease the mining rate, i.e., reducing the rate at which miners can obtain new Remints.
Through the implementation of multiple burn events, a fixed amount of tokens will be subtracted from the circulating supply (many times over).
To lessen the negative impact of the volatility factor, we will deploy a staking system to lock up tokens and restrict the movement of these tokens. In addition, specific fees will be placed on selling orders to reduce the negative impact on the market price.
One of the most prominent determining factors when it comes to keeping the Remint token scarce is the expected loss of pre-mined coins caused by forgotten and inactive accounts. By our calculations, this amount equals approximately 35% of all mined coins previous to the listing. Hence, 35% of all mined coins are subtracted from the circulating supply, also causing an enormous amount of coins to be deducted from the overall total supply.
3.3 Work effort and its corresponding earnings
We believe in a fair distribution model where all parties are treated as equals, a system free from so-called whales and fraudsters who can negatively impact and exploit it. Everyone should be able to become a part of Remint on equal terms regardless of experience, ethnicity, or technical background.
Everyone looking to acquire Remints is given equal rights and opportunities in this pursuit. However, the work effort put in to attain our token is the sole differentiating factor that determines the result.
At the time of writing, Remint coins are minable through our mobile application. The reward system within this application rewards users for accomplishing certain tasks, for example, initiating a mining session and answering crypto-related questions. The quantity of performed tasks determines the rate at which users earn Remints, i.e., total earnings directly correlate with work effort.
All tasks besides the mining session have a fixed reward amount. The mining session is set to a standard rate of 0.6 coins/hour but is directly affected by the referral system. For every referral that is added to a user’s mining team, the mining rate increases by 25%.
The tasks mentioned previously include the Bonus Task and the Daily Task. The Bonus Task gives one coin when performed, and the Daily Task which consists of two sub-tasks – Daily Question and Share on social media, provides four coins each after completion.
4.1 BNB Smart Chain and associated consensus protocol
BNB Smart Chain (short as “BSC” for the below sections) operates in parallel with the Binance Chain (BC). Instead of having a layer 2-solution, the two are separate blockchains operating in tandem, forming the Binance Chain. BSC has implemented native cross-chain communication, which enables the blockchain to take advantage of the dual-chain architecture; hence, BSC can benefit from Binance Chain’s high-speed transactions, along with other qualities that the coexisting chain offers. Furthermore, BSC’s transaction fees are exceptionally low, especially in contrast to all the applicable features that come with the blockchain.
Proof of Staked Authority (PoSA) is the deployed consensus algorithm of BSC. Proof of Staked Authority combines Delegated Proof of Stake (DPoS) and Proof of Authority (PoA). PoSA provides a high-security standard with improved efficiency and tolerance to certain levels of Byzantine players (bad actors) and defense against 51% attacks. Besides being highly secure, it also streamlines transactions and holds an excellent capability to scale.
The execution of PoSA
This hybrid consensus model (PoSA) is based on a reliant staking system, where blocks are produced by selected validators, which in turn are supported by delegators. There are two groups of validators, i.e., validator candidates and elected validators. To prove merit and qualify as a validator, it is required to meet specific criteria determined by the Network. Anyone who meets the requirements will become a validator candidate. However, only the top 21 validators with the highest total delegated BNB (self-stake + delegators’ stake) are appointed elected validators and receive the associated block reward. Upon every UTC midnight, the validator set is updated and adjusted accordingly. The current validator set (21 elected validators) acquires the block reward containing transaction fees in BNB. Delegators are nodes that support validators by staking their BNB to them in order to help their preferred validators achieve the status of elected validators. In return, delegators receive a share of validator earnings based on their individual stakes. Additionally, an incentive is in place to prevent malicious or negative behavior, such as double sign or inavailability. This method is called slashing and is a part of the on-chain governance, rendering various punishment methods for those jeopardizing the Network security.
4.2 Deployment of smart contracts
By issuing BEP-20 tokens on BNB Smart Chain (an extension to the ERC-20 token standard), Remint Network can deploy smart contracts into its business model. Through the use of BNB Smart Chain technology, Remint Network can offer anyone conducting a real estate deal via our decentralized service to take advantage of the accompanying benefits that are provided when utilizing smart contracts.
By implementing smart contracts, we can eliminate redundant intermediaries with associated costs and streamline the contractual process. It flips the script, yielding higher profit margins and greater freedom to suppliers and buyers who use our real estate platform for transferring ownership of real estate properties as well as conducting other types of real estate based endeavors. Other advantages are also evident, such as transparency, anonymity, and trust, which used to require elaborate control and audit processes. Moreover, these smart contracts not only preserve current established security standards but rather increases them due to cryptographic mechanisms ensuring that the data is stored in an encrypted format and its ledgers are tamper-proof.
4.3 Reasoning behind the utilization of BNB Smart Chain
The core team decided to develop on BNB Smart Chain (BSC) because it meets all the requirements for an excellent-performing blockchain with wide usability and high security. Yet the most prominent advantage of BSC is that it supports smart contracts and comes with a dual-chain structure, which makes it optimized for developing and scaling high-performance dApps. In addition, it is Ethereum Virtual Machine (EVM) compatible, enabling dApps on the Ethereum Network to be executed, which in turn adds to its usability features.
BSC’s hybrid consensus algorithm “Proof of Staked Authority” effectively covers all infrastructural aspects, which is essential in a well-functioning blockchain. Moreover, the consensus engine consumes relatively small energy resources and does not require immense computational power compared to, for example, proof of work protocols; thus, the environmental impact is considerably lower. The system is also highly secure due to the implemented slashing mechanism, which discourages validator misbehavior and promotes honest network participation.
Other powerful advantages of BSC are its high transaction capacity and transactional speed, as well as low block time and transaction fees. These qualities, on top of the previously stated ones, make BSC the obvious choice among its competitors.
Ecosystem & Token Use Case
5.1 Mobile application
The Remint Network application is the first in-line product in the Remint ecosystem. With it, application users are able to earn our token for free using a simple earning process called ”cloud-based mining”. All coins accumulated are kept and stored safely in the application until functions like transfer and withdraw become active, making it possible to transfer earned coins to friends and family or withdraw them to other decentralized wallets compatible with BNB Smart Chain, like Trust Wallet and MetaMask.
In the quest to grow the balance of Remint coins, the application also offers playful and engaging features (some of which provide rewards) to ease up the workload, even though it’s merely a matter of a few minutes per day required to reach the daily threshold for coin accumulation.
Other features in the application are the Remint news section which provides up-to-date information about the Remint project only; the Daily Task where users improve upon their knowledge about crypto and blockchain in general; the crypto listings, which provide market rates on the top 50 cryptocurrencies on the market; and the chat that connects all users in the Remint community.
Through continuous app updates, more functions and improvements are made to the application, giving it more exciting features, a better user interface, and enhanced quality as a whole.
5.2 DApp platform
A decentralized real estate application will be developed and added to the Remint ecosystem. The software fueled by smart contracts will provide a decentralized marketplace for buyers and sellers to make various real estate deals (e.g., buying and renting out properties) without intermediaries and central oversight.
Due to the decentralized nature of the application, multiple advantages will be given to all parties participating in the trades. One of the prominent ones will be cost reduction, thanks to eliminating intermediaries like real estate brokers, agents, and banks from the process.
The platform will split into two marketplaces; a rental marketplace for accommodation similar to Airbnb, and a marketplace for residential properties and vacation homes. The Remint token will be used as the main currency of the application. However, other cryptocurrencies are accepted as well.
The blockchain-technology-fueled dApp will operate in a highly secure and transparent setting due to the cryptography offered by this next-gen tech. In addition, all transactions conducted on the platform will be carried out in a way that provides high transactional efficiency, hence minimizing time, effort, and cost.
5.3 Crypto-integrated prepaid cards
Three sets of prepaid cards with smart functions will be issued to Remint holders on request, and all card types will differ in terms of features. Such features include financial interest, a scoring system, a cash-back function, and staking. Furthermore, every cardholder is eligible to create an account with us to get an overview of their spending and manage every smart function linked to their specific card.
The crypto-integrated prepaid cards issued by Remint are generally the same as debit cards, except that debit cards are connected to centralized bank accounts. These crypto cards are connected to cryptocurrency wallets, and the funds are preloaded; thus requiring deposits from bank accounts, other debit or credit cards, or other crypto wallets. In addition, through the staking system provided in the Remint fund, an interest rate on token holdings generated from the lock-up period will automatically be transferred to the cards owned by those who are staking accordingly.
All cards will be connected to cryptocurrency wallets, providing a decentralized payment method for their users. Furthermore, the use case of these cards will not be restricted to one particular market – hence, it will be possible to buy products and services in most industries by automatically converting cryptocurrency and fiat money on the spot, thus resembling the visa card in terms of purchase practicality. However, specific incentives will be given to those making some form of purchase in the real estate market, for example, when booking hotels or paying rental fees.
5.4 Remint fund
The Remint fund allows investors to invest an optional amount of Remint tokens into the fund by staking it for a period of time. In return, they receive an interest rate dependent on the fund’s progression. This interest will then be allocated to all investors’ wallets (connected to Remint’s prepaid cards). The total amount invested into the fund’s pool will be used to purchase real estate properties worldwide to renovate before hitting the market again. In addition, we will rent out a considerable share of properties, thus ensuring growth and a healthy profit margin for all investors to capitalize.
Most cryptocurrencies on the financial market are characterized by high volatility, thus causing significant upward and downward movements in price. The volatility factor can be detrimental for many cryptocurrencies due to the potential risk of immense value loss in the shortest of times. However, some cryptocurrencies called stablecoins, such as USDT and USDC, are counteracting this effect by pegging their market values to external forces, such as a currency like the U.S. dollar or the price of a commodity such as gold, causing the price to be respondent to those assets. This is far from optimal because as a consequence of cutting out the volatility, thus inhibiting a currency’s true potential to grow naturally, the potential for rapid price gains almost ceases to exist.
To address this issue, the core team will launch the Remint fund to prevent the Remint token from being easily influenced by adverse market conditions while maintaining the potential for rapid price gains.
Remint token is the currency used for investing in the fund. So investors must first purchase Remint in exchanges before partaking in the fund, increasing purchase orders while decreasing selling orders, positively affecting the market value of Remint. So the conclusion is that when the fund thrives, the Remint token follows.
You can regard the Remint fund as a pegged asset to the Remint token. This is because the fund’s value arrives from real estate (already defined above), which essentially is viewed as a stable asset. This will ensure that the fund does not lose any significant value while sustaining the market value of Remint token.
Securing enough capital for real estate deals is a must – hence our objective is for the fund to be considered an attractive investment opportunity for crypto investors of all sizes, and sufficient incentives must be in place accordingly to ensure this outcome. High-value incentives include but are not limited to; allocating revenue to investors (derived from deals made on the real estate market) and introducing the staking option.
Development plan/Road map
The Remint core team focuses on improving the mobile application by enhancing its user interface and adding new exciting features, further developing the business concept, and executing various market strategies in order to acquire a more extensive user base.
During this phase, we make it possible for everyone to accumulate the Remint token through the process of “cloud-based mining”. The initial mining rate is at its peak but will halve in later stages, giving pioneers a head start compared to miners joining down the line.
Our servers are operating as a faucet emulating the behavior of the decentralized system that will be implemented in the third phase. Therefore, overall improvements and changes are possible to apply and easier to make compared to the main net. Once the system is finished and passed over to the BNB Smart Chain, all tokens will be migrated to the main net. As stated above, the system for generating coins is currently functioning as a faucet. This means that before its launch on an exchange, the Remint currency holds no monetary value.
The mining process continues, and further improvements are made to the mobile application and to the network as a whole. However, to ensure a level of token scarcity, the mining rate is halved in this phase – hence a higher difficulty level to attain tokens is evident.
Also, a KYC process that removes fraudulent earners is conducted to sustain a fair distribution model and an honest earning system among our users. Subsequently, the withdrawal period will become active, allowing authentic users with a Remint account (storing at least 500 coins) to withdraw their total earnings to their wallets. Nonetheless, the token first acquire its value from an official market listing and has no monetary value before entering the third phase.
This is the final phase, where Remint Network enters the main net by transitioning into BNB Smart Chain while closing down the software emulating the main net. Remint cryptocurrency list on Pancake Swap (decentralized exchange) and major centralized exchanges as well – hence a market price is acquired for the first time, and Remint can be exchanged for other currencies.
During this phase, the core team will systematically implement strategies with the intent of elevating the scarcity factor of the Remint token and increasing the overall token value. This will be conducted through token burn events (which permanently reduce the circulating supply), and by enforcing certain fees on those selling the token on exchanges. In addition, staking will be introduced, which involves locking up large parts of tokens, thus also preventing selling orders from being conducted.
Given the thriving establishment of Remint’s system, the cease of new supply, and the growing demand for Remint tokens, Remint is optimistic about the sustainable growth of Remint’s value in the long run.
The real estate application, prepaid cards, as well as the Remint fund will also be deployed. Furthermore, Remint’s plan will further be expanded upon, giving rise to new ideas and inventions, including but not limited to insurance and NFTs. This means that when the current project vision has been reached, the development of this project continues to progress through the contribution of the core team.