Redenom project launched the Minimum Viable Product!
Redenom is a collective investment project creating value in the process of circulation of NOM coins on crypto-currency exchanges.
The project’s main feature is the free distribution to all project participants of NOM crypto-tokens, issued as part of a smart contract written in the Solidity language, in the Ethereum network.
Each registered participant can receive a certain number of NOM crypto-tokens on his Ethereum network address.
The key factor affecting the emergence of the value of tokens is the embedded redenomination algorithm, with subsequent distribution of sums between participants according to the zero-sum game principle.
The cumulative release of tokens is limited to 1,000,000 NOM and is divided into 10 periods. Each period is limited to an issue of 100,000 tokens.
The issue is carried out at each registration and user identity confirmation the following order:
- An user address is created in the Ethereum network and the due amount of tokens “NOM” is credited to the user’s address.
- Simultaneously, 30% of this amount is credited to the address of the Redenom DAO Fund
- Simultaneously, 10% of this amount is credited to the address of the Redenom project team
The redenomination is carried out with the frequency laid down in the algorithm of the smart contract.
At the time of redenomination, volatility jumps are expected and an according increases in the value of the token, which will lead to an increase in the capitalization of the Redenom DAO Fund.
The project’s main objective is to ensure equal and proportionate participation of all project participants, who fulfilled the requirements of the system and voted for a particular project, in the projects to be funded from the Redenom DAO Fund.