Rental markets are volatile, subject to ups and downs, depending on socio-political issues and the prevalent financial conditions of the time.
A rental agreement almost always includes handing over a sum of money to either the landlord or the management company of the property. This sum of money, known as the security deposit, should in theory be used to cover any damage done to the property or cover financial losses that may arise during the tenancy. When the tenancy ends, and assuming no damage to the property has occurred, the security deposit should be handed back to the departing tenant.
However, this is not always the case. Greedy or unscrupulous landlords may withhold this money for spurious reasons, and this is where most conflicts in the rental market arise.
RxEAL is a brand new ICO that offers a blockchain-based platform to store the security deposit and also a dispute-resolution solution.
RxEAL: safeguarding tenants’ security deposits on the blockchain
Disputes between tenants and landlords are all too common occurrences. Heated arguments, strongly-worded emails, and even court cases have happened over the devolution of security deposits ever since such a thing came to exist.
With an upcoming beta, signed product pilot partners and a global team of real estate, blockchain and finance experts backing the project, #RxEAL is building a blockchain solution that will transform rental markets for good.
Join us: https://t.co/xnfC798CDH #RXL #TimeToGetReal pic.twitter.com/IPSgD4dHpo— rxeal.com (@rxealofficial) March 26, 2018
RxEAL introduces a blockchain solution to store a tenant’s security deposit, and ensure its return at the end of the tenancy.
How RxEAL works
Users of the RxEAL platform will generate smart contracts based upon agreed terms, which cannot be unilaterally changed by either party. Nor can any party access the funds until the end of the lease & tenancy. If a dispute does arise, RxEAL will provide an arbitration service.
Learn how blockchain technology will help property owners manage business more efficiently.https://t.co/sVfmfkdmIO
Find out more and register for the token sale here: https://t.co/0kOFyj53w4#RxEAL #RXL #TimeToGetReal
— rxeal.com (@rxealofficial) March 22, 2018
Workflow
RxEAL in figures & quick facts
We are very happy to announce that we have successfully reached our soft cap goal of 300 ETH! Thank you all for helping us achieve this milestone! You can still participate in our token sale till April 11th and enter our giveaway: https://t.co/1uT2bhbqcd #RxEAL #RXL #Giveaway
— rxeal.com (@rxealofficial) March 29, 2018
- Token name – RXL
- Total numbers of tokens issued – 96m
- Token value – 1 ETH = 1,200 RXL
- Pre-ICO start date – January 15th 2018
- Pre-ICO end date – February 15th 2018
- ICO start date – March 12th 2018
- ICO end date – April 11th 2018
- Soft cap – 300 ETH
- Hard cap – 35,575 ETH
Note that the only currency accepted as payment during the token sale is ETH.
Bonus program
Now you can get more RXL for your ETH. Register now to participate in Pre-Sale: https://t.co/lHfNLF91Zo #RXL #RxEAL #ICO #PreICOhttps://t.co/1cDVKTem4g
— rxeal.com (@rxealofficial) January 12, 2018
RxEAL will run a bonus program, which will work as follows:
- Token Pre-sale Bonus – 100%
- Token Sale Tier 1 – 50%
- Token Sale Tier 2 – 20%
- Token Sale Tier 3 – 10%
- Token Sale Tier 4 – No bonus
The RxEAL token
We are pleased to announce that after months of preparation, the #RxEAL token sale has begun! 🚀 You can buy #RXL tokens:
👉 on our website: https://t.co/0kOFyj53w4
👉 on the Kickico platform: https://t.co/zIoZZU2IJw
More information about the token sale: https://t.co/SNIGpjdLfb pic.twitter.com/srbvI2qr7H— rxeal.com (@rxealofficial) March 12, 2018
The RxEAL token (RXL), which is based on the ERC-20 standard, will be launched and, once created, will be distributed as follows:
- Pre-sale – 6%
- Token Sale – 50%
- Reserve – 30%
- Team – 10%
- Investors – 1%
- Bounty – 3%
The team
Learn more about RxEAL’s team here.
Social media presence and digital footprint
Here are the social media numbers for RxEAL at the time of writing (late March 2018).
- Twitter – 1,258 followers
- Facebook – 4,400 followers
- LinkedIn – 20 followers
- Telegram – 32,318 followers
RxEAL does have a good following on Telegram, but its overall presence on SM is not particularly remarkable.
Competition
RxEAL is using blockchain technology to solve long-standing problems in rental markets: https://t.co/h2Rw6bcUIS#RxEAL #RXL #TimeToGetReal pic.twitter.com/KL3otzQ03P
— rxeal.com (@rxealofficial) March 19, 2018
Blockchain platforms dedicated to the rental market in one form or another are quite ubiquitous.
ICOs like CryptoBnB, SMARTRealty, RET, or Rentything have been operating for some time.
RxEAL does have a far more specific focus, however, which may differentiate it from the rest. RxEAL’s niche is the storage of a tenant’s security deposit & arbitrage, which is quite unique in the current market.
Additional information
See RxEALÂ review on ICOBench.
Whitepaper
Consult RxEAL’s whitepaper for more information about the platform, additional features and services, etc.
Conclusion
We are committed to create a product that together with other real, feasible projects will accelerate the cryptocurrency and blockchain mass adoption. Join the conversation to find out more: https://t.co/cxMRGvVImv #RxEAL #RXL pic.twitter.com/d4Se6360CY
— rxeal.com (@rxealofficial) February 12, 2018
RxEAL offers a targeted solution for the rental market. It does not intend to tackle the whole gamut of issues surrounding this particular ecosystem, which is a smart move.
By concentrating on one single aspect of the rental environment, this ICO may carve a nice niche for itself and stand the test of time.
