Rate3 Network Overall Progress Update (April, 2018)

Published in

Official Rate3

6 min readApr 17, 2018

We’re making tremendous progress on all aspects of our project, and keeping our investors and community updated is our utmost priority.

For easier readibility, these are the various segments:

Technical Updates
Partnership Updates
Marketing Updates
Investor Updates
Token Sale Updates

1. TECHNICAL UPDATES

Our engineers have been working hard on the engineering, test integrations with Stellar and the technical architecture for the entire Rate3 Project:

i. Dual Protocol

The Rate3 Network is powered by two core protocols: the Cross-Border Payment Protocol (CPP) and Credit Scoring Protocol (CSP). The CPP helps to address the adoption issue faced by any protocol system (i.e how do we get early adopters onboard?), by making it so seamless, affordable and easy for consumers to send cross-border payments to merchants. The CSP builds on top of the CPP, by creating an alternative scoring mechanism. This way, borrowers like consumers or merchants find it easier to obtain credit, when 99% of borrowers are unable to gain process to credit. Likewise, it provides an easy bridge for traditional capital funds to gain access to these borrowers.

Rate3 Cross-Border Payment Protocol (CPP)

Access our Whitepaper here: https://rate3.network

ii. Rate3 Testnet NOW LIVE!

Our testnet is live too. You can download the testnet chrome extension, and pay with test RTE tokens.

Download it here: https://www.rate3.network/testnet

iii. Cross-Chain Architecture

Our native RTE tokens can exist on through the Ethereum blockchain and Stellar network, through cross-chain atomic swaps, executed through a hashed time-locked contract. Users would be able to swap their RTE ERC-20 token on their Ethereum wallet for a Stellar asset RTE token on their Stellar wallet, through a smart contract. This way, we can utilize Stellar for cross-asset transactions, but also use Ethereum for their Turing-complete nature. This also helps to increase liquidity for RTE tokens. In the future, we will continue to expand our cross-chain architecture:

Read more about our Cross-Chain Architecture here: https://medium.com/official-rate3/atomic-swap-rate3-rte-runs-on-both-ethereum-stellar-1e16fcebe7c4

2. PARTNERSHIP UPDATES

We are building the protocol layer for global e-commerce. The full potential of this protocol layer can be better realized with more partnerships and more dApps built on top. We understand the importance of having strong partnerships, where we can tap on their expertise and synergies:

i. Zilliqa

Rate3 CEO Jake with Ziliqa CEO, Xinshu Dong

Zilliqa is a new high-throughput blockchain platform, designed to be more scalable through sharding. Rate3 will build our CSP on top of the Zilliqa blockchain as a pilot project in Q3 2018, for more scalability in terms of transaction speed and gas fees. Fun fact: Rate3 and Zilliqa are both graduates from the same incubator in Singapore!

Read more about Zilliqa here: https://www.zilliqa.com/

ii. BrahmaOS

Imagine this: you go overseas for business or leisure trips. You pay with your credit/debit card for large transactions for offline purchases, but your bank and card network charge you an additional 10% fees!

This upcoming partnership between BrahmaOS and Rate3 brings the online Rate3 solution offline. Now, imagine this again: you can pay offline with whichever currencies you prefer: USD, SGD, RTE, BTC, ETH and there are no transaction fees, prefect mid-market exchange rates and instant cashback for your offline purchases. Imagine Travellex. On Mobile. Only Better.

BrahmaOS is a decentralised OS, and the earlier phase will be based on the Android system.

Paying for offline purchases with Rate3 x BrahmaOS

3. MARKETING & PUBLICITY

We cannot stress enough the importance of community building, especially with regards to blockchain, a movement that so heavily depends on collective innovation. Likewise, visiting various keynote events to spread the word about the Rate3 project helps to gather more serious supporter and evangelists.

i. World Blockchain Conference (Macau, Upcoming: April 2018)

Rate3 CEO Jake Goh will be sharing more about our project to fellow investors in the upcoming World Blockchain Conference in Macau. If you’re attending the event, do say hi to him too!

ii. Cafe & Crypto (Taiwan, April 2018)

Sharing the stage with BeeToken, Mr Block and Portal Network, these renowned token projects shared about the future of decentralisation and the actual use cases of blockchain in the impending future.

iii. Blockcity Taipei (Taiwan, April 2018)

BlockCity is a unique event with the aim of creating the future of smart cities. More than 3,000 visionaries and innovators from all over the world gathered in the event. Rate3 Network participated in various fireside chats and forums with top-notch speakers, that include Hitcon, Gilbraltar Stock and Crypto Exchange.

iv. Asia-Pacific Ethereum Meet Up (Thailand, February 2018)

Asia Pacific Ethereum Meet-up, together with Jun Capital

The Asia-Pacific Ethereum Community Meetup aims at promoting technology exchange and connecting Ethereum developers with community members, as well as creating opportunities for users to know more about the Ethereum-based projects. Rate3 CEO Jake had an engaging disucssion with Vitalik on utilizing Ethereum for our CSP!

v. Proof-of-Care Campaign (Ongoing!)

We would not be where we are, without our supporters and community. This is why we designed a Proof-of-Care campaign to reward our supporters for helping us spread the word about Rate3. Create content, share with us and you will be rewarded!

Learn more here: https://medium.com/official-rate3/announcing-proof-of-care-a-token-distribution-for-community-outreach-ebd743980d46

Submit your proof here: http://rate3.network/proof-of-care

4. INVESTOR UPDATES

i. Signum Capital

We are proud to announce our latest investor and supporter: Signum Capital. With their investment, we join in the ranks of Signum Capital’s renowned portfolio: OMG, TenX, Kyber Network, Qash, Zilliqa, aelf and Republic Protocol.

Signum Capital has the highest investment ROI out of every crypto fund, and we are thankful that Signum Capital has seen similar potential in the Rate3 project.

Learn more about Signum Capital here: http://www.signum.capital/

5. TOKEN SALE UPDATES

Our Pre-Sale has started. Some key details:

20% bonus structure
Min allocation: 0.5 ETH; no max allocation
Ends when Pre-Sale cap (5,000 ETH) is reached, or till 31 May 2018.

Participte here: https://kyc.rate3.network

Our Step-by-Step guide: https://medium.com/official-rate3/official-step-by-step-guide-for-rate3-network-pre-sale-16-4-18-31-5-18-9138117524ce

About Rate3

Rate3 is a decentralised dual protocol for cross-chain asset tokenization and identity management. The Rate3 Tokenization Protocol is an end-to-end protocol for tokenization on both Ethereum and Stellar, while the Rate3 Identity Protocol is a protocol to create and manage a unified cross-chain identity.

Website: https://rate3.network
Twitter: https://twitter.com/officialrate3
Telegram: https://t.me/officialrate3