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On the days REGA Risk Sharing – developer of decentralized crowdsurance platform based on smart contracts, scoring systems and artificial intelligence technologies, – announced successful closure of the first stage (presale) of its ICO campaign.
REGA Risk Sharing project attracted $507,000 from private contributors during the first stage of the crowdinvesting campaign. 30,000 RST-P tokens were issued within the presale. The bulk of the collected funds came worldwide from people, who support the idea and mission of the first crowdsurance platform for individual risks management products and services development and implementation. The burst of activity for the purchase of RST-P tokens fell on the last days of the presale campaign due to a special 50% off discount offer.
“We have seen a steady increase of the interest to our project throughout the entire presale campaign. We were reached by people from all over the world interested in the project, platform and crowdsurance products. They asked lot of questions, shared their feedback and recommendations. We are very pleased by such high appreciation and grateful for the trust and support given to us. Presale results proved that we are on the right way developing the right product that is demanded on the market. We believe, the crowdsurance services will change the insurance industry and our lives in the very near future,” – said the founder and CEO of REGA Risk Sharing Sergey Sevriugin.
Funds raised during the ICO campaign will be used for ICO promo campaign, which started on October 15th, 2017 at 10:00 (UTM) and will last until the maximum volume of RST distribution is reached.
The number of RST tokens issued during ICO – 1 470 001 tokens, with the price depends on the date of purchase:
- ICO opening days (October 15-18, 2017) – number of RST tokens at sale – 450 000 at the price of 0.08 and 0.09 ETH/RST;
- Starting from October 19 till the end of campaign – the number of RST tokens at sale – 1 020 001 at the price of 0.1 ETH/RST.
Funds raised during the preICO campaign will be used to shape REGA Superpools to ensure effective operation of the REGA Risk Sharing model. RST token owners can vote on REGA risk management key issues and receive reward for participation in platform operation questions up to 3% from the collected funds.
RST token can be converted back to ETH at the rate of: reserves/number of tokens sold*20%. In addition, the increase of the tokens price according to the above formula will be ensured by reserves amount increase resulted by successful operation of the risk management models on REGA platform.
The funds will be used for the development of REGA platform and creation on its basis a full-featured platform for insurtech products developers, with a wide range of API tools and tools for compiling smart contracts.
In the nearest future, REGA plans to expand the geography of Lexi Club mutual pet crowdsurance solution on European markets, Asia and USA. In next steps REGA will extend its portfolio with crowdsurance products for mobile devices (REGA gadget protection), private property (cars, real estate), human health, and the development of a comprehensive crowdsurance system.
About REGA Risk Sharing
REGA Risk Sharing – developer of crowdsurance* platform based on blockchain.
* Crowdsurance is the 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 smart contracts. The nature of crowdsurance implies creation of reserve funds out of community members voluntary contributions.
In March 2017, REGA Risk Sharing successfully launched on its platform Lexi Club crowdsurance pilot product – solution for pet owners that helps members to save significantly on vet services and save up to 80% from the costs. Service is based on the Ethereum platform on the principle of the Decentralized Autonomous Organization (DAO). Lexi Club was awarded by Microsoft with BizSpark Plus grant.
Technologically, the platform is built with Microsoft technologies: Azure Machine Learning algorithms, Bot Framework for managing the user interface, and Microsoft Cognitive Service for building a scoring model and risk assessments.
More info about the company and its products you can find on the website www.rega.life.
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