Leveraging our 20 years experience in risk assessment and scoring we’ve created REGA Risk Sharing platform - the new standard for insurance market with state-of-art technology that will be available for everyone as a new segment of the shared economy. As REGA Platform has fundamental differences with conventional insurance in foundations, rules and philosophy, we introduce new term “Crowdsurance” , meaning people unite in communities to provide a guarantee of compensation for unexpected loss. Compared to traditional insurance, in crowdsurance there are no insurers, intermediaries and brokers, all the processes being controlled and managed by programs and algorithms. The REGA Risk Sharing platform will also provide Super Pool capacity to cover risks for own and third-party products that fit the REGA risk management standards. We can compare it with reinsurance on traditional insurance market and this a huge facility we are going to bring to the blockchain world.
We are about to build a community of experts that will help us develop and adjust risk models for crowdsurance products. To create this community we are going to use crowdsale of the Risk Sharing Tokens (RST) which will be used as a REGA expert licence to manage the parameters of REGA risk models and process some difficult cases. Such work will bring to the token holders additional income in proportion of purchased number of tokens, because part of crowdsurance contributions collected on our platform will be allocated as expert’s fee payments and due to limited number of the Risk Sharing Tokens the market price of the REGA expert licence will grow in the future. The REGA Tokens will be also accepted as payment for crowdsurance products running on the platform, as an investment in crowdsurance pools. The REGA Risk Sharing Tokens crowdsale will provide funding for platform development. The platform prototype is working now and already available to the community.
- Not a share, but utility token
- Price discovery - token market price floor determine by the RST smart contract based on Constant Reserve Ratio (CRR) and RST cryptocurrency reserves (Bancor protocol)
- Continuous liquidity - no need in exchange to convert RST to other cryptocurrency thanks to Bancor protocol. Just call the RST smart contract SELL function to liquidate tokens and get cryptocurrency back on your account
- Limited emission - the number of tokens on the market is limited
- Linked to business model - RST is using as a REGA expert licence and also can be utilized as member contribution fees in crowdsurance pools
- Proof-of-stake - incentivizes token holders for expert work (voting) - 3% of member contribution as an expert fee payment
- Reserve growth - part of platform / product support fee will be allocated to increase RST reserve that will result in rising of the token market price floor.
- Open market - will be traded on exchanges and will get the open market valuation
REGA Risk Sharing platform will use smart tokens basing on Bancor protocol. REGA Tokens can be used as an contribution in pools for crowdsurance products, and means of payment for REGA services. Those tokens will also be used as REGA expert licence to manage the parameters of the REGA risk models and to process some difficult cases. Such work will bring additional income to the token holders in proportion of purchased number of tokens. For this purpose part of the platform and product fees will be allocated as expert’s fee. The expert fee can be distributed between token holders as cryptocurrency payments to holders account, or be utilised to increase Risk Sharing Token reserve, or to issue new tokens and then distribute new issued tokens between token holders.
The main purpose of the Super Pool token is to create Super pool capitalization framework. Token holders can use Risk Sharing tokens to buy Super Pool smart tokens to provide capital for the Super pool and to receive additional income working as Super pool expert. Buying Super Pool Tokens will be subject to additional KYC / AML procedure, as only qualified experts could manage Super Pool risk models
There are several ways how REGA Token will increase their value besides the token price increase due to the high demand on the token market:
- The crowdsurance product on REGA Risk Sharing platform will pay the expert fee to the RST token holders by transferring 3% (subject to change by voting) from each contribution amount
- The crowdsurance product on REGA Risk Sharing platform will increase the RST reserve by transferring an amount that left after the deduction of the operation expenses from the product support fee
- The REGA Super Pool will increase the RST reserve by transferring part of smart contract account balance in cryptocurrency by the end of each year using ADD method
- The REGA Super Pool will pay the expert fee to the SPT token holders by transferring part of smart contract account balance in cryptocurrency by the end of each year
The Risk Sharing token holders can use their tokens to invest in REGA Super Pool tokens via the SPT smart token contract during open period (usually 2 days). When the open period is finished the buy / sell operations of the SPT tokens will be disabled for specified number of months (usually 12). The Super Pool tokes reserve can be decreased by REGA Super Pool smart contract if the Super Pool account balance is less than specified limit and underlying pools have payment requests to be paid out.
- A portion of the funds raised will be used as the Ether reserve for RST (details on the CRR will be outlined in the crowdsale launch announcement), enabling continuous liquidity to Ether for any RST holder, as well as any holder of a smart token using RST as a reserve
- A portion of the funds will be used to develop, promote and support the open-sourced, blockchain based REGA Risk Sharing crowdsurance platform including the development of new scoring models using Machine Learning and Cognitive services
- A portion of the funds will be used for development, promotion and support of crowdsurance products on t he REGA Risk Sharing Platform
- A portion of the funds will be used to provide the initial capital for the REGA Super Pool in terms of reserve f or Super Pool Tokens
- A portion of the funds will be used to develop infrastructure of service providers on the platform to deliver non-financial service as well
- A portion of the funds will be used for Compliance and Legal procedures, in order to operate worldwide
- A portion of the funds will be saved f or unforeseen costs