RENEC token will not have a predefined cap initially, but rather the cap will be decided as a result of the mining program.
Users from all around the world can participate in the mining program to claim their share of RENEC tokens. The mining program will be announced sometime during July 2021, and is estimated to last around a year, when the first blockchain mainnet is possible, and an estimated of 5 million users have successfully claimed their RENEC token. In case of less than 5 million users have successfully claimed the RENEC token, the mining program and date of mainnet launch can be extended for another 3 months at most.
The number of tokens received by users through the mining program will be unlocked in installments for 5 years from the date of mainnet launch.
To ensure the transparency of the Remitano Network Blockchain, when the mainnet launches, each RENEC token holder needs to complete KYC level 2 verification at Remitano.com. In other words, the mandatory condition for eligibility to transfer your RENEC to the mainnet is to complete KYC level 2 verification. More details
The amount of RENEC allocated to the development team will be equivalent to 25% of the amount of RENEC mined by the miners and is also unlocked according to the 5-year roadmap. This allocation will be used to facilitate the foundation of the blockchain as well as build pioneering applications on the network.
Every year, an additional amount of tokens equivalent to 4.5% of the total supply will be issued as staking rewards for the participants who confirm the transaction on the network (validator). At the same time, an additional amount of tokens equivalent to 1% of the total supply will be issued to develop additional applications on the Remitano Network blockchain.