Crypt
Search…
⌃K

RIP

Overview of RIP's supply and distribution of tokens.
We have a supply of 10,000,000 RIP with the following allocation:
  • 50% to Students completing courses
  • 10% to Lecturers
  • 10% Airdrop
  • 10% to Community Treasury
  • 10% to Launch

Community Treasury

The funds held in the community treasury will be controlled by a multisig and will be used to hire:
  • Developers
  • Designers
  • Community managers
  • Other positions as demand arises

The Giving Block

A key objective of this project is to create something that leaves the world a better place than the one we've found it in. In this spirit, 10% of the total supply of RIP will be donated to the Giving Block.
We are also in discussions with them on how we can then enable functionality in Crypt which will allow users to leave a percentage of their Crypto holdings to charities registered through the Giving Block.

Token demand

We will create demand via the following mechanisms:
  • When someone creates a will, we lock up 1000 RIP until the death occurs. This removes those tokens, thereby increasing scarcity. This 1000 RIP is based on a $0.10 USD valuation. This rate can be changed based upon the price point of RIP to ensure it can adjust to the market.
  • When someone makes a change, they get charged 10 RIP
  • When a Will is distributed, the RIP comes back into circulation
  • Used in Governance voting