The path to the REPS coin network is upon us. While there is a genuine degree of excitement, it is gradational process wherein any irregularities and wrinkles need to be ironed out beforehand.
Despite the occasionally dry nature of technical development, this represents the first opportunity for our community to begin earning a return on their investment of time, feedback and support of the RepMe project. For the team, this is where we shift from a purely internal process to one that is shared with the community. Through staking, we grow together and move closer to a realized vision of truly shared benefits and equitable wealth distribution. This is, after all, the lifeblood of cryptocurrency and decentralization—an economy whereby the providers of value are also the recipients.
Let the staking begin!
There is no better way to ensure a safe passage than the implementation of a transitional network which shall commence following the swap and last for a period of approximately 100 days.
The final 1B RPM tokens shall be made available for staking and masternode rewards. The tokens shall be distributed over the stated period.
Rewards Distribution — 75% Masternodes and 25% Staking
Masternode Requirements: 20mm RPM tokens
Staking Requirements: No minimum.
Wallet — the desktop wallet will be available at repme.io.
Ease Of Use
As stated in our last article, RepMe believes in the real future of what decentralization and crypto portends. We are less enamored with the speculative nature that both drives and litters the space, but respect it.
To our greater initiative, running a masternode should not require a post-graduate degree in computer science. Although it remains a work in progress, we feel poised to deliver a simple solution to running a masternode. It is our goal that the process should not be much more intensive than locking the required number of tokens and running a wallet.
Masternodes — While masternodes are the heartbeat of the network, they can be run utilizing the same wallet software on the same blockchain while providing additional and more complex services to the network. The only requirement is the pledge of 20mm tokens.
Nothing Ventured, Nothing Gained
The decision to launch the REPS coin as a separate reward entity is technically challenging and requires its share of customization. After all, staking one token that emits a separate and distinct coin is not standard.
Although we simply know that this is the correct move, the masternode network launch was originally slated for late Q2. Being able to have something now that offers us an opportunity to properly secure the network while rewarding our earliest supporters with a final billion tokens up for grabs, is the equivalent of killing two flies with one swat.
It is important to push the pace some now from both a business and technical perspective. Hopefully, our recent developments inform our community that we have deployed additional resources while remaining deliberate and anything but complacent in our execution.
Next up: Ongoing Development
