Requitix (RQX) ICO Review – ICO Token News
Requitix (RQX) ICO Review – ICO Token News
What is Requitix?
The name Requitix originates from the term “Requit”, which means, “Giving something in return.” The company believes in giving back something to its users in terms of higher profits and lower fees. This e-commerce platform defines itself as a trusted token and confidence system and a blockchain enabled e-commerce trusted gateway which is intended to become the next generation of e-commerce payments.
Similar to other ICOs like SERENITY, Dimensions Network, Fintechbit, BunnyToken, TokenLend, Phoneum, Opporty, Crypterium, Requitix is also an e-commerce platform offering an enhanced experience for online shoppers and merchants by comprising zero chargebacks, trusted reviews, and security from spammers and scammers.
Requitix also launched a proof of concept on a niche-dating website. After the ICO, it plans to launch its platform to a network of 3,000+ niche dating websites. With that said, Requitix’s aim is to transform the entire world of e-commerce.
Requitix is committed to carving a niche in the e-commerce world by differentiating itself from other e-commerce platforms with the following features:
1 – Trusted reviews: Real reviews, from real customers with the help of smart contracts on the blockchain.
2 – Scammer protection: Inbuilt scam-protection feature, which allows merchants to stop scammers and spammers before they strike.
3 – Zero chargebacks: Requitix’s payment solution does not have any chargebacks.
4 – Low fees: Requitix promises to charge a very low fee of 0.5%. In comparison with other Ethereum-based and blockchain-based platforms like CryptF, Upline, Fintechbit and others, which charge 3% to 6% fees. However, its white paper doesn’t say much about how it will afford to charge such a low fee.
5 – No extra fees are charged.
How does Requitix work?
This global e-commerce payment gateway is easy to integrate and implement on any type of website. You can exploit it to receive payments, via mobile or web apps, for instance.
As transactions occur on the Ethereum blockchain, they take just a few minutes to execute, though the latest Ethereum hard fork claims to shrink transaction time to just a few seconds.
The platform uses the Requitix token, which is abbreviated to RQX. Users can use this token for transactions involving Requitix smart contracts.
The smart contracts maintain control over the four essential components of Requitix, comprising qualified reviews, chargebacks, spam/scam protection, and low transaction fees.
Start & end of Requitix token sale
Requitix’s pre-sale will start on 2 February 2018 and end on February 2018 while its private sale is presently live on its website with more than 400% bonus.
During its ICO pre-sale offer, it will offer its ICO tokens at a rate of 1 ETH, which will be equal to 1200 RQX.
Key details of Requitix ICO sale and distribution strategy is depicted through below given image:
Requitix token distribution
Requitix has planned to distribute 51 percent tokens through its crowdsale out of the total supply of tokens. Following are the ways Requitix decides to distribute the collected funds:
- 21% is held for the Requitix team.
- 10% is allocated to the advisors and partners.
- 2% is allocated for bounties. The company also decides to make available bounties for those who are interested in promoting the crowdsale on social media.
That apart, the company also decides to make available bounties for those who are interested in promoting the crowdsale on social media.
16% reserved for future stakeholders
In order to catch the attention of superior talent and to account for expected capital requirements of the future, Requitix has kept 16% of its tokens in reserve for future stakeholders. The company took this decision based on the study of similar projects and recognized industry knowledge. This stakeholder reserve will remain held via smart contract for 12 months.
The company can use this reserve only when there is any opportunity or need to increase its growth. Moreover, the company may also use this reserve for strategic partnerships to promote the adoption of the Requitix platform and the accountable provision of capital to compensate for hidden and unexpected devaluation of ETH.
The team behind Requitix
Based in Oregon, Requitix is a team of brilliant brains from diverse backgrounds, such as finance, banking, point-of-sale services, web merchant services, e-commerce platforms, and more.
The team is led by:
- Tom Boyle, CEO and Co-Founder
- Michael Reece, CTO, Co-Founder, and Lead Developer.
The company also has more than 17 years of experience in operating as an online dating space.
Requitix is dissimilar to Inspeer (INSP), FinTab (FNT), Bananacoin (BCO), and several other ICO tokens, as it is a unique e-commerce platform that claims to provide low fees of 0.5%.
Nevertheless, this cryptocurrency payment does differentiate itself when it comes to providing solutions for fake and falsified reviews, and protection from scammers and spammers. On the fees front, it may have to face competition, but the other two solutions that it is providing may surely help it create a strong base from the investment point of view.
With their pre ICO sale, the company raised sufficient funds to accomplish its tasks, and it hopes to achieve the set target through its ICO crowd sale in March 2018.
This ICO may be liked for its long-term potential, for, there are just a few companies providing protection from fake and falsified reviews, scammers and spammers, and higher profits with minimal fees charges.
Keep in mind though that the Requitix white paper does not shed much light on technical details, and it does not divulge anything about how the platform is going to offer 0.5% fees.
Requitix in the media
Bitcoinexchangeguide: Requitix – RQX ICO Low-Fee eCommerce Payment Blockchain
Requitix in Social Media