Frequently Asked Questions
What is Rilcoin?
Rilcoin is a cutting-edge crypto technology-based, fully decentralized crypto-currency, which actually has all the benefits of fiat currency as well the freedom and anonymity of a crypto-currency. Rilcoin is a part of an Asset Management System (AMS). The assets are further classified into High-Risk Assets and Low-Risk Assets on the basis of various pre-defined parameters explained further in detail. For more information, please read the Rilcoin’s White Paper.
Who is building the Rilcoin’s Asset Management System?
Teams from Quickdesk Solutions Ltd. (UK) and Techrangle Inc. (Canada), are building the Rilcoin.io application with employees and advisors based around the world, the company focuses on business-grade technology solutions, including blockchain software development. For more information about Quickdesk Solutions or Techrangle Inc., please visit www.quickdesksolutions.com and www.techranlge.com.
Will the RIlcoin.io Software be released under open source software license?
Yes, Rilcoin as a crypto-currency is based on infrastructure that is open source; at the end of its development stage it will available on Github channel. The asset management system (AMS) will not be released as open source.
What are Ril tokens?
Ril tokens represents a Proof of Asset of the Ril platform. Users can buy token through crowd sale in the ICO period. We will systematically buy back Ril token from exchanges and our own platform. This means that investors who contributed their assets to the ICO will actually be returned their contribution with profit at the current market value of the Ril token.
What does Ril stand for?
We believe that Ril means different things to different people. We have received numerous amazing interpretations of what Ril stands for or what it should stand for so we have decided not to formally define it ourselves.
How does the Ril Token distribution work?
The Ril Token distribution will start from November 2017 and there will be 100% of total Ril tokens available for crowd-sale. 35 million (35,000,000) Ril Tokens will be distributed according to the schedule below:
- First Phase – 10 million (10,000,000) Ril Tokens will be distributed during a 30 days period with a bonus of 25% – beginning on November 1, 2017 at 00:00 UTC and ending on November 30, 2017 at 23:59:59 UTC.
- Second Phase – 10 million (10,000,000) Ril Tokens will be distributed during a 30 days period with a bonus of 15% – beginning on December 1, 2017 at 00:00 UTC and ending on December 30, 2017 at 23:59:59 UTC.
- Third Phase – 10 million (10,000,000) Ril Tokens will be distributed during the last 30 days period with a bonus of 10% – beginning on December 31, 2017 at 00:00 UTC and ending on January 29, 2018, at 23:59:59 UTC.
- At the end of each phase, remaining unsold token (if any) will be carry forwarded to the next phase and they will be available for sale with the bonus % of the current phase.
- In any phase, If the available Ril-tokens are sold before the end date of that phase; there will be a pause period to crowd sale of maximum 7 days and sale of tokens of next phase will start after pause-period. E.g. In the first phase, 10 million Ril-tokens are sold in first 10 days. As per the guidelines, the crowd sale will go into the pause for a period of 7 days and thereafter phase 2 will begin.
Why was this token distribution method chosen?
A lot of token distributions only allow a few people to participate. The Ril Token distribution structure was created to provide a sufficient period of time for people to participate if they so choose, as well as give people the opportunity to be a part of Asset Management System.
Was there any Ril Token pre-sale or ways to obtain Ril Tokens prior to the commencement of the Ril Token distribution?
How can I participate in the Ril Token distribution?
To participate in the Ril Token distribution, you will need a Ethereum compatible wallet or an application where you and only you hold the private keys. Private keys are needed to correctly interact with smart contract functions, like transferring cryptographic tokens. Do not send ether (“ETH”) directly from cryptocurrency exchanges, only an ETH compatible wallet.
Is there a minimum purchase for Ril Tokens?
The minimum contribution accepted during any period of the Ril Token distribution is 250 Ril Token. Smaller contribution amounts will be rejected.
How can I see how much ETH has been contributed during a specific period of the Ril Token distribution?
The amount of ETH received during each current period will be displayed on the website: rilcoin.io. The history of ETH contributed in previous periods can be viewed on the website as well.
Are Ril Tokens transferable?
How to buy RIL token from rilcoin.io?
1. Go to https://www.rilcoin.io/
2. click on login button.
3. you can log in with your Gmail account or can directly sign up with your e-mail.
4. Now you are on the dashboard.
5. Click on buy token.
6. You can see RIL token wallet address.
Note: Do not send ETH directly from an exchange (e.g. Coinbase/Poloniex) or using the Jaxx wallet. We will not be responsible for ETH sent from an exchange or incompatible wallet.
How Do I Check the Balance of MyEtherWallet?
You only need your address in order to see your balance. It is not recommended that you enter your private key anywhere if you just want to check the balance or see incoming / outgoing transactions.
Tokens: https://ethplorer.io/ allows you to easily see token balances and transfers.
You can also see all tokens on https://etherscan.io/ now. Your balances are in the drop-down in the header section thingy. Your transfers can be viewed on the “Token Transfers” tab.
ETC: https://gastracker.io/. Paste your address into the search bar and it will pull up your address and transaction history.
MEW: You can also enter your address only on the View Wallet Info page by selecting the “View With Address Only” option at the bottom.
Note: This does not mean that you can transfer those. Remember, you must have the private key in order to access your account.
How to use Metamask.io wallet?
Step 1: install Metamask from metamask.io(Google chrome plugin)
Step 2: Setup Metamask:
i)Click the fox icon in the Top Right (Extension bar)
ii) Accept all the terms and agreement.
iii) Enter a new password and confirm the password in the field.
iv) Then click on “CREATE”
Note: Copy the words on the next screen on to the piece of paper and store it in safe place
Step 3. Send ETH to your Metamask account.(How to send ETH to Metamask account?)
Step 4. Copy the Smart contract wallet address from RIL token platform.
Step 5. Send ETH to RIL Token platform from Metamask.
i) Now you can click on “SEND” from your metamask plugin.
ii) Copy the RIL token address in the recipient address.
iii)Enter the amount of ETH and click “NEXT”.
iv) And check once again the exact wallet address.
v) Then click on “SUBMIT”.
Step 6. Add RIL token as a custom token to see balance.
i) Click on Tokens and ADD Token.
ii) In the token address field, paste the RIL token wallet address.
How to use MyEtherWallet?
STEP 1: Create a new wallet at MyEtherWallet.com
i) Go to https://www.myetherwallet.com/.
ii) Enter a strong but easy to remember a password.
iii) Click the “Create New Wallet” button.
iv) Click the “Download” button & save your Keystore / UTC file and rename it. This file *is* wallet so back it up and keep it safe!
v) Read the warning. If you understand it and promise not to lose your private key, click the “I understand. Continue” button.
vi) You now have the option of printing a paper wallet, saving your private key, or saving a QR code of your private key. Back up at least one (offline) vii) Then click “Next: Save your Address”.
Step 2: Send ETH to RIL token wallet:
i) On the top menu, select send Ether & Tokens.
ii) Then select Keystore file (UTC/ JSON) and enter the password you created and click on “UNLOCK WALLET” button.
iii) Your address located on the top right.
iv) Copy the RIL token wallet address(https://rilcoin.io/admin/payment) in “To Address” field.
v) Enter to amount(in ETH) to send and gas limit ” ”
vi) Then click on “Generate Transaction” and now “Send Transaction”.
vii) Check all the information shown in a dialog box (eg. RIL Token wallet address, and amount of ETH) then click on “Yes, I am sure! Make Transaction.”
viii) The transaction is successful.
Step 3: Check Balance (View wallet info tab): in this step, you only require your wallet address.
i) Enter your wallet address and click on “UNLOCK”.
ii) Get RIL Token wallet address(https://rilcoin.io/admin/payment) and Select Add custom token ticker and decimals.
iii) Now you can see the balance.