RIF Token Sale

This post is to provide some clarity on certain aspects of the RIF Token issuance process that, although specified in the Whitepaper, appear to be causing some confusion in the community.
January 6, 2019

Token Generation Contract Deployment and Distribution

The RIF Token generation smart contract was deployed on the RSK Network on 9th November 2018 (TGE Date). A total of 1 billion RIF Tokens were created and allocated as described in the Token Sale section of the
RIF Labs Whitepaper

Contract address

The RIF Token generation smart contract’s address on the RSK Network is:
0x2acc95758f8b5f583470ba265eb685a8f45fc9d5

Its activity and details can be seen on the RSK Blockchain Explorer: http://explorer.rsk.co/address/0x2acc95758f8b5f583470ba265eb685a8f45fc9d5

The contract was deployed together with a series of smart contracts that together ensure the rules specified in the Whitepaper are followed.

Token Sale Process

RIF Tokens that were made available for purchase during the private sale were exclusively sold by RIF Labs directly to private contributors. Contributors who participated in the private sale were approved by RIF Labs and were required to go through an comprehensive KYC process, which included submitting information to a third party specialized in conducting KYC/AML processes, retained by RIF Labs. There were several references in the WP and ECA regarding the Contributors’ objectives and goals when acquiring the Token and the usability thereof.

Token Redemption

All RIF Tokens purchased during the private sale were made available to contributors by RIF Labs on the TGE Date. These RIF Tokens will remain available for private sale contributors to redeem from the smart contract deployed by RIF Labs for a period of 1 year from the TGE Date (Redemption Period). In order to receive their RIF Tokens, private sale contributors need to interact with the relevant smart contract by following the redemption instructions that were sent to them by RIF Labs. This is the only way for private sale contributors to receive their tokens during the Redemption Period. On expiry of the Redemption Period, any RIF Tokens which have not been redeemed by a contributor will be automatically returned to RIF Labs by the smart contract.

Bonus Token Incentives

RIF Tokens purchased during the private sale are not subject to any lock-up arrangements. RIF Labs has however offered private sale contributors bonus token incentives if they continue to store and hold their initial RIF token allocation in their original wallet for 3, 6 and 9 months respectively.

Back

Follow our news!