Rapids Mainnet
Project goals and roadmaps are one of the primary elements of any proper cryptocurrency project and punctuality, as far as achieving project goals, should be one of the fundamental considerations in any digital asset investment. The Rapids project launched only a few months ago and so far, the team has completed everything laid out in the roadmap and ramped up production to bring you a future roadmap goal ahead of schedule: the Rapids mainnet.
According to the roadmap goals, the fourth quarter of 2018 is to include the distribution of RPD tokens, the listing of RPD on at least two exchanges, and the cumulative membership of 4,000 members between Telegram and Discord. The Rapids team has completed all three of these goals and on top of it, have included the initiation of the mainnet swap, slotted for the first quarter of 2019.
The mainnet swap from RPD ERC20 tokens to a new blockchain was thought to be a migration to a blockchain based on the NIST5 algorithm. With much consideration including security concerns and feasibility of use, the development team has decided to make the swap to the battle-hardened QUARK algorithm based on the proven model created by PIVX. The PIVX blockchain has been around for some time, and any cryptocurrency advocate can tell you that it is a top name not only in amongst security cryptocurrencies but also in the realm of masternodes.
Masternodes provide a more secure blockchain and furthermore, provide an extra incentive for investors to assist in the security and maintenance of the blockchain network. The Rapids team has decided to deploy a blockchain structured from the standard set by PIVX and to incorporate a masternode model that will provide additional security to the Rapids network. The Rapids GitHub page gives an overview of what this will consist of and here is a quick breakdown of what this means for the community as far as the technical specifications of RPD:
- Block Time — 60 seconds or less
- Max coin supply — 35,000,000,000 RPD
- Premine — 20,000,000,000 RPD
- Masternode Collateral — 10,000,000 RPD
- Reward Rate per block — MN 60% POS 30% Treasury 10%
- Halving Cycle — 4 years (2,102,400 blocks)
Reward Distribution will remain consistent:
For those of us who like a more user-friendly breakdown of what this means for the Rapids community, the distribution will proceed as follows: 60% of the block rewards will go to masternodes, 30% of the block rewards will go to staking, and 10% of the rewards are set aside for the development team treasury. This treasury will be instituted to provide funding for the ongoing development and further expansion of the Rapids ecosystem. The Rapids team had experience with other cryptocurrency projects and wanted to go back to the drawing board to incorporate a reward system that would work for everyone. Deliberations over the structure led to a decision based on an inflationary cycle which is ultimately modeled after the Bitcoin model to sustain viable growth and the longevity of the Rapids network.
You have most likely noticed that the premine consisted of 20 Billion RPD. One of our primary philosophies is transparency and to uphold that clarity, let me give you the full explanation through a breakdown of the allocation. As you can see to the left, the pie chart shows how the premine is utilized. 15 Billion of the premine is in the distribution wallet which accounts for the token swap as well as further distributions via airdrops, bounties, giveaways, integrations, and partnerships. 3.5 Billion is set aside for the development wallet which includes approval checks, and the remaining 1.5 Billion is for the team wallet that has quarterly disbursements to incentivize and maintain the growing Rapids team. The remaining token supply that is not part of the premine is for Proof of Stake and Masternode network participation. This breakdown accounts for the entire supply of RPD.
The mainnet swap is planned to begin on December 15, 2018, and the first iteration of Rapids Desktop Wallet development is in the concluding stages. Desktop wallets will be available to help facilitate the mainnet swap for the end user and will be available for download on our main site. RPD can be purchased through the following platforms:
In addition, among the exchanges currently listing RPD, we have formed agreements with BiteBTC and Crex24 to assist in swapping the ERC20 RPD tokens into the newly minted RPD coins. Once the exchanges have received all the RPD tokens and swapped them into RPD coins, you will be able to transfer your entire balance to the new desktop wallet. From there you can securely store your RPD, stake your balance, and even set up your own node provided you maintain the required balance.
We would like to remind you to keep an eye out for our social media announcements and updates regarding the mainnet swap and to get your RPD tokens onto one of the two participating exchanges starting December 15th. We are working diligently on integrations and partnerships for hosting opportunities concerning the Rapids staking and masternode network. Nothing is out of our reach and with the community and team coming together to outperform our original deadlines, the coming years will be more than promising for the Rapids network and the social community that supports the project.
