Ripio Credit Network RCN to BitMax Token BTMX Exchange

Crypto Pair Details: RCN to BTMX

Ripio Credit Network RCN

Ripio Credit Network (RCN) is a global peer-to-peer credit network based on cosigned smart contracts that facilitates connections between lenders and borrowers across the world, on any currency. It enables people across the globe to access credit, and to provide loans. The RCN token is a typical ERC-20 token. This protocol has the smart contract technology embedded into the Ethereum blockchain which facilitates peer-to-peer lending without the hefty transaction fees that are charged in traditional banking processes. The RCN token functions at the core of the system. The inherent value of the token is directly correlated to the demand for its use in the network. Based in Argentina, Latin America, Ripio was launched at the TechCrunch Disrupt in May 2016. Sebastian Serrano, founder and CEO of the Ripio Credit Network is a technology enthusiast. He along with his team of technology experts, analysts and developers have designed an impressive concept along with the website, whitepaper and its implementation within the last 2 years. The team comprises of David Garcia (SVP & Board Member), Eugenio Cocimano (Data Scientist), Antonio Ceraso (CTO & Lead Blockchain developer) and Agustin Aguilar (Smart Contracts Developer) among many others. Ripio started off with a primary objective - to democratize the digital economy in Latin America, by offering digital payment alternatives within everyone's reach in a region where 65% remain unbanked. The smart contract is an integral part of the underlying technology of the Ripio Credit Network. It is generated by the Wallet Provider and executed when it is matched by the Credit Exchange. This smart contract contains information like the relevant credit terms, borrower obligations, events of default along with the signatures or verifications from all other agents. RCN tokens facilitate interaction with the smart contracts among different agents within the RCN. Every credit flow starts when the Borrower makes a credit request. The Borrower performs the request from its Wallet Provider, which has already integrated into the RCN protocol. Post this, the Borrower waits for an approval before any further action can be performed.

BitMax Token BTMX

The native digital cryptographically-secured utility token of BitMax (BTMX) is a major component of the ecosystem on BitMax, and is designed to be used solely as the primary token on the platform. BTMX will initially be issued by the Distributor as ERC-20 standard compliant digital tokens on the Ethereum blockchain. BTMX is a non-refundable functional utility token which will be used as the unit of exchange between participants on BitMax. The goal of introducing BTMX is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on BitMax. BTMX does not in any way represent any shareholding, participation, right, title, or interest in the Foundation, the Distributor its affiliates, or any other company, enterprise or undertaking, nor will BMAX entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. BTMX may only be utilised on BitMax, and ownership of BTMX carries no rights, express or implied, other than the right to use BTMX as a means to enable usage of and interaction within BitMax. BTMX would also function as the economic incentive to incentivise users to participate in the BitMax ecosystem. Users of BitMax and/or holders of BTMX which did not actively participate will not receive any BTMX incentives. The Distributor which issues and sells BTMX shall be an affiliate of the Foundation. The limit of 10 billion BMAX is strictly imposed without any further increase. The users can obtain BTMX through the 'Trading Mining' model and are eligible to receive BTMX incentives based on the trade volume of their user account. BTMX can also be purchased on the exchange under the pairs of BTMX /BTC, BTMX /USDT.

SOURCE: COINGECKO

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