# RIP

We have a supply of 10,000,000 RIP with the following allocation:

* 50% to Students completing courses
* 10% to Lecturers&#x20;
* 10% Airdrop
* 10% to Community Treasury
* 10% to [the Giving Block](https://www.thegivingblock.com/)
* 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.](https://www.thegivingblock.com/)

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
