REGA Risk Sharing announces Risk Sharing Tokens (RST) crowdsale: began Oct 15th, 10 AM UTM and will go on until Nov 15th.
REGA Risk Sharing is an alternative to conventional insurance. A decentralized blockchain-based crowdsurance platform, where people unite to accumulate private funds secured by Ethereum smart contracts to guarantee a compensation for an unexpected loss.
REGA Risk Sharing launched it first crowdsurance solution for pet owners called Lexi Club this March. Lexi Club helps pet owners protect their pets against accidents and illness and save up to 80% on the vet bills.
REGA team is planning to raise 100K ETH.
The number of RST tokens for sale during ICO is 1 500 001 — 50%+1 token of the total emission of 3 000 000 RST.
The price of RST tokens on Crowdsale is 0.1 ETH/RST. Early bird investors can enjoy a special price of 0,05 ETH/RST. For full schedule, caps and more information about the token sale, please consult REGA ICO Paper.
Depending on the outcome of the ICO, REGA Risk Sharing is planning to add Gadget, Car, Property and Health Crowdsurance to the product portfolio.
Crowdsurance is an alternative to insurance that is based on principles of shared economy. The term stands for association of individuals joint into communities in order to share financial consequences of their potential risks. Such collective cooperation is based on the principles of autonomous decentralized organizations on blockchain and regulated by Ethereum smart contracts.
The nature of crowdsurance implies collection of reserve funds out of community members’ contributions and is operating as a cascading system of pools: sub-pool, pool and super pool. The ability of such system to cover risks is tied to the capitalization of the super-pool: 80% out of each member’s contribution goes to secure the pools, 20% — to develop the product and the platform. The more members (investors) join the community, the more potential risks can be covered.
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Source：Read the official page