Radix ICO

Discussion in 'General' started by olliejjc16, May 11, 2017.

  1. OllieRDX

    OllieRDX Beta Testers

    Hi guys, would anybody be able to provide a rough idea of the length of the ICO, so if it starts 30th June will that run for 1 month, 2 months, 3 months ? Just so people on here investing have a rough idea of when to have funds available? For example I will more funds available to buy radix at the beginning of September, will that mean I will miss the the ICO period and have to wait till launch?

    Is there a "founder" that could give a rough idea on this, it would be greatly apprecited.

    Thanks again.
     
  2. Peachy

    Peachy Founders Staff Member

    I'm guessing 4 months (best guess, but not confirmed) with potential bonuses that decrease as the time to "Go Live" approaches.
     
    OllieRDX likes this.
  3. Jazzer

    Jazzer The Dutch connection Staff Member

    The original plan was 4 weeks, but that was a year ago. I'm thinking it will likely be longer rather than shorter if anything changed. The exact timing will be confirmed once we get closer to the start.
     
    Cyg likes this.
  4. Cyg

    Cyg Beta Testers

    4 months seems unnecessarily long to me. Original plan or slightly longer seems ideal.

    Looking forward to the details coming out soon.
     
  5. Fuserleer

    Fuserleer Radix Founder Staff Member

    A month should be more than sufficient.

    Plus the sooner we lock it in, the sooner we can start audits and other expensive but critical tasks.
     
  6. olliejjc16

    olliejjc16 Beta Testers

    What methods will be available for us to purchase Radix through the DEX during both the ICO and in the future Dan? I remember you saying you'd be able to purchase Radix with either Bitcoin or Ethereum in the ICO is that still the case or will there be other options? I assume that in the future you'll be able to purchase Radix directly with Fiat is that correct?
     
  7. uchiki

    uchiki New Member

    A similar question to olliejjc16 above.
    If the ICO is going to via the DEX within the Radix client, am I right in thinking it will be possible to subscribe using GBP, USD, EUR etc as well as major cryptos? Assuming that 1 Radix = 1 USD, will there be a GBP/Radix price based on near to spot exchange rates for GBPUSD?

    In the DEX video, USD assets are shown in the account wallet.
    This might be a naive question, but how would GBP or USD be transferred from a bank account to a Radix wallet?
     
  8. qwased

    qwased New Member

    Would be interesting to know how long after the ICO it will be available for trading on the exchanges.
     
  9. iRabbit

    iRabbit Beta Testers

    Please realise that currently around 70% of all BTC trades go OTC (Over The Counter), meaning without entering the orderbook of an exchange. This is how almost all large crypto investors trade. So even if you don't list RDX on external exchanges, the majority of trade will go outside of the Radix DEX. But as mentioned above, this is not a problem, because arbitrage trading will result in the price on exchanges being roughly the same as on Radix DEX.

    Being visible on exchanges is a form of marketing. If people only see RDX when going to the Radix DEX, but not on Polo, etc, there is less visibility, less word of mouth -> less demand -> lower adoption and succes of this project. So in order to make Radix a success you definitely want RDX to be tradable on external exchanges, the DEX trading volume to be visible on coinmarketcap, etc.
     
  10. uchiki

    uchiki New Member

    Having watched the youtube video of Dan's 2016 presentation at coinfest, I have a clearer understanding, and have rephrased my question.
    Here's my interpretation of that part of Dan's presentation:
    To buy RDX with GBP from a bank account, you'd need to be paired with a RDX seller who'd put the RDX in escrow, then you'd need to do a bank transfer to them and they'd release the RDX to you. There's a feature in the Radix client that manages this.

    Are there any plans to make RDX available in this way during the ICO?

    Once you have RDX in your wallet, if you want to temporarily switch back to GBP or USD, you could subsequently trade RDX for GBP or USD tokens via the DEX.
    However, to switch to GBP in a bank account, you'd need to use the pairing feature to find a GBP funded RDX buyer.
     
  11. junsha

    junsha Beta Testers

    I agree with @iRabbit that letting RDX trading on external exchanges will promote Radix itself.

    But maybe there are some technical problems?
    RDX is different from other coins that it can earn interest,
    if someone transfers some amount of RDX to an exchange, than distributes to many other person.
    maybe its difficult to calculate these interests? by Timestamp of RDX acquired...? is it technically possible?
     
  12. Jazzer

    Jazzer The Dutch connection Staff Member

    Our position on crypto exchanges has always been clear. We don't care much for them. If they want to list us, hardly anything we can do about that but we're not going to chase anyone. Radix is its own thing, targeting consumer mass market. We don't want to confuse anyone with all those other coins and terms so will stay as disconnected from that stuff as we can.

    Regarding interest, this an internal thing. Everyone holding a balance will earn interest, which they can claim if they are running the client. If you have holdings at an exchange, then the exchange will be earning the interest (assuming they actually hold the reserves). They could compensate you for missed interest, but it probably won't happen. You can see a similar thing with PoS coins. The exchanges cash the PoS bonuses.
     
    junsha likes this.
  13. mrx

    mrx New Member

    Hi

    Just wanted to ask. Each RDX will be always backed by 1 dollar or not? Just need to know are we crating here new supply out of thin air or not)
     
  14. rotane

    rotane Founders

    No. There is no price pegging. And RAD are Not backed. Price will BE stabilized by a supply algorithm. More demand = more RAD generated.
     
  15. Anima

    Anima Founders Staff Member

    New Radix currency will be made according to demand sensed on the DEX. This new currency will be distributed around the system, which will then be sold to satisfy demand. Without demand, no new supply is created. Demand can be in multiple currencies including other crypto.
     
  16. mrx

    mrx New Member

    And what will happen if there is no demand? The supply will stay the same and the price per RAD will plummet or the system will somehow decrease the total supply?

     
  17. Anima

    Anima Founders Staff Member

    If there is no new demand no new currency will be created. Total amount of currency will stay the same when supply and demand or equal. Price will also stay the same.
     
  18. wingspan

    wingspan Freedom Flyer

    If you're asking about how it handles a drop in price for the system token (RDX?), the system does the later - the stability system has a few ways to burn excess supply if needed - so except for catastrophic downward price pressure, the price of the system token will remain stable over the long term - especially after reaching mainstream adoption levels. In the beginning I can imagine some variance/spikes that will on average leave the price at $1 over months...years.... until even USD loses the title of best reference for stable value. At that point my hope is that the Radix system token becomes the title holder and is kept stable by comparison to a sort of DEX CPI or basket of goods, etc. The best part of the Radix infation/deflation system will be that it won't "print" money by using a debt system. A lot of countries would be wise to adopt Radix as their legal form of tender and force themselves out of that debt system.
     
    CryptoMomma, Lloyd and Rickard like this.
  19. ciappa

    ciappa New Member

    Hey guys, i am following Radix/Emunie now for a very long time, and i am excited to looking forward for the IPO in june...
    I know it is difficult, but IMHO a fair distribution/ICO like the distribution of NEM would be a very good thing.
    First, it would be fair, and it would prevent that a big whale with much money comes and buy many Radix, for dump it later...
    And second, therefore Radix would be spread fair to very much people arround the world, and everyone have the same possibilities
     
  20. jonas452

    jonas452 Beta Testers

    We want maximum spread and radix isn't influenced by pump and dump because of it's economics model. No volatility issues here.
     
    CryptoMomma likes this.

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