Remechain (RMC) is a supply and logistics marketplace based on the Ethereum blockchain for trading secondary metals. It is the world's first decentralized scrap metal marketplace aiming to set new standards and unification of market participants.
The platform aims to solve inherent problems of the $100 billion secondary metals market through leveraging blockchain technology and smart contracts. By directly connecting buyers and sellers, Remechain bids to eliminate barriers to entry and establish a new level of accountability and transparency in the market.
This is the first decentralized exchange, aimed to solve the main problems of secondary metals market. At the moment, the market is inefficient and the system has a set of imperfections such as lack of standardized classification of scrap, lack of mechanism determine the optimal counterparty, non-existence of an assurance mechanism and counterparty risk.
These imperfections in the market make it difficult for suppliers to find out what kind of scrap was being bought and its actual cost, risks of default by parties on their obligations, risk of fraud or a breach of law.
Remechin offers the following solutions to these imperfections:
- Calculating the parameters for optimal transaction and creates the standardized scrap metal quality assessment methodology
- Conducting primary accreditation of system participant, blockchain record all the information in the history of transaction, ranking counterparties in accordance with their reputation
- Considering geographical location of the purchaser when calculating optimal transaction. Planning and contracting delivery carried out by integrating with blockchain-logistics services
- Simplified entry into the global scrap market industry which has been boiled down to a simple sign-up data form
- Risk and fraud protection based on smart contracts that reserves the buyer's funds and automatically makes payments to the seller only when the parties have fulfilled their obligations. In the event of default by the seller, the fund is returned to the buyer.
Ivan Myasoedov – Founder
Gennadiy Sidorenko – Technical Expert
Alexander Andreev – Recycling advisor
Dimitry Chistyakov – Technical Director
Nikita Pruss – Lead project manager
Remechain ICO Details
- Pre-ICO start date – November 9, 2017
- Pre-ICO closes – November 23, 2017
- ICO start date – January 25, 2018
- ICO closes – February 25, 2018
- Pre-ICO token – iRMC
- iRMC allocation – 600 000
- RMC per 1 ETH price – 1 iRMC = 0.003125 ETH
- Soft cap – 500 ETH
- Pre-ICO benefits – By purchasing iRMC tokens at this stage, investors receive 20% more tokens. This condition is automatically met by a smart contract when you reach Soft cap.
Initial token distribution structure as follows,
- Pre-ICO – 6.65% (600 000 iRMC)
- ICO – 66,52% (6 000 000 iRMC)
- Team – 23.28% (2 100 000 iRMC)
- Bounty – 2.22% (200 000 iRMC)
- Bonus – 1.33% (120 000 iRMC)