RigoBlock is a decentralized asset management protocol built on public blockchains. The protocol allows for the development of applications for asset management, offering a native incentives mechanism which is aimed at aligning the interests of the different operators. The project was originated in early 2016 and by today the product is already live and its tools were already integrated on the biggest decentralized exchange Ethfinex Trustless. These progresses have been achieved without any prior public sale. However, this year RigoBlock has organized its public token sale in order to accelerate distribution of the token and to expand the community around the protocol.
The protocol is already live and integrated into the Ethfinex Trustless portal, making RigoBlock one of the first token sales with a live product already used by third parties.
RigoBlock has launched its token sale in cooperation with two of its leading partners: TokenMarket and Ethfinex. The distribution of the GRG token through the two channels gives access to a wider targeted audience.
TokenMarket is a premier distributed tokens information portal and advisory firm. It combines its market experience, resources and data assets to create a professionally tailored solution to execute token sales safely and securely; its extensive experience in the token sales counts over then 30 successfully completed sales.
RigoBlock has announced its partnership with TokenMarket on 19th Jun 2018. The advisory firm is helping the project with marketing, PR and community management, bounty management as well as providing its award winning services.
Participants need to complete KYC process supported by Onfido. After the identity control they are free to contribute ETH (minimum individual amount 0.2 ETH; maximum individual cap 500 ETH). Contributors up to an amount of 500 ETH will receive a 5% bonus. All contributors receive 1 GRG as part of the airdrop program, which gives access to the RigoBlock beta portal, where Vaults and Dragos can be created and managed.
At the end of the public sale, GRG tokens will be distributed to all the participants by 18th Feb 2019. Detailed informations about the public GRG sale are available in the FAQs section on the RigoBlock website and in the Bluepaper.
Ethfinex is the biggest leading hybrid exchange, which provides users with the option of trading on a centralized or decentralized version of the platform. The overarching goal of Ethfinex is to deliver a sophisticated trading experience whilst democratizing the governance decisions surrounding a cryptocurrency exchange. The exchange has recently released Ethfinex Trustless, a decentralized exchange built on Ethereum, which in the middle of December 2018 has seen its volumes increase by 840% in comparison with the previous period, with a total daily volume of $4.8 million.
On 25th Jul 2018, RigoBlock announced its partnership with Ethfinex and by 13th Dec 2018 RigoBlock’s asset management tools had already been integrated into Ethfinex Trustless, allowing its users to operate their very own token pools on Ethfinex Trustless without leaving the platform.
Ethfinex’s users can also participate in the RigoBlock token sale from 18th Dec 2018 until 18th Jan 2019. The sale is available on the Ethfinex token sale platform.
RigoBlock have made 124,700 GRG tokens available for Ethfinex users, at a 5% discount to the public sale. You can find all of the information and details regarding the RigoBlock token sale on Ethfinex in FAQs section.
What the GRG token is for
GRG is the world’s first utility token for asset management. It serves 3 distinct purposes: access to the portal, access to incentives mechanism and governance.
In order to access the portal beta.rigoblock.com, users are required to hold at list 1 GRG token. This limits the access of malicious actors to the portal and is a safeguard measure for the users.
The incentives mechanism is build around the revolutionary Proof-of-Performance (PoP) algorithm, which deprecates management fees and performance fees, so that pools operators get automatically rewarded in GRG tokens. In order to qualify for the reward, each pool operator must hold a dynamic minimum amount of GRG tokens.
On the governance side, the parameters of the PoP algorithm, which determine the resulting overall inflation, are set by the token holders. The rationale is based on game theory: token holders have an incentive to set the parameters to 0, in order to create 0 inflation and maximize the token’s unitary value. However, since the RigoBlock protocol has a model which continuously puts in circulation 5% of the newly generated tokens, which are used to further develop the ecosystem and attract external actors, the GRG token holders have an incentive to set the minimum parameters which allow for optimal network functioning.
More information can be found in the RigoBlock bluepaper.
The RigoBlock airdrop
RigoBlock has been running an airdrop program to all whitelisted wallets and all token sale participants, which allows free access to the RigoBlock portal. Participation to the airdrop and token sale is subject to KYC.
As previously anticipated, by holding 1 GRG, each holder can access the Rigoblock portal and create and run Dragos and Vaults.
Already more than 600 wallets have been part of the airdrop.
Disclaimer: this review doesn’t represent any investment or financial advice.