As you all know, RENEC Mainnet is scheduled to launch on October 1, 2022 (the official time may fluctuate around the first week of October 2022).
Before this milestone, you will need to understand the following 3 issues about RENEC mainnet.
KYC level 2 for authentication on RENEC
To ensure the transparency of the Remitano Network (RENEC) when the main network launches, each RENEC token holder must complete level 2 KYC verification at Remitano.com by October 1, 2022.
In other words, a mandatory condition for you to be able to transfer the RENEC funds that you have in your wallet balance is to complete KYC level 2 verification by October 1, 2022. This principle applies to the amount of RENEC money you earn from different sources as follows:
- RENEC amounts from individual/group mining and airdrops from Remitano’s marketing programs: are eligible to be transferred to the main network after you have completed level 2 KYC verification.
- RENEC count from the RENEC Ambassador program: eligible to be transferred to the main network after both you and your downline have completed level 2 KYC verification.
- The amount RENEC rewards when a lower line completes KYC verification level 2: is eligible to be transferred to the main network after you have completed KYC level 2 verification.
- The RENEC amount rewards registration via referral link: eligible to transfer to the main network after you have completed KYC level 2 verification.
Before the mainnet launch, which is expected in September 2022, you will see your RENEC categorized into 2 sources: verified and unverified when accessing your Remitano wallet.
The development team encourages you to complete KYC level 2 and also reminds your subordinates to complete KYC level 2 so that the transfer of RENEC to the main network in the future is smooth.
RENEC Unlock Schedule for RENEC Community
The RENEC community’s verified (KYC Level 2) verified (completed KYC) quantity will be unlocked according to the following schedule:
- Year 1: Unlock 20% for 3 months from 01/10/2022 to 31/12/2022 weekly (every 7th).
- Year 2: Unlocked 20% monthly (the first day of each month).
- Year 3: Unlocked 20% monthly (the first day of each month).
- Year 4: Unlock 20% monthly (first day of each month).
- Year 5: Unlocked 20% monthly (the first day of each month).
What happens to unverified RENEC amounts?
From October 1, 2022, RENEC funds from unverified accounts will be transferred to public wallets and become the RENEC
Community and Network Development Fund. The fund will be used to distribute rewards to the RENEC community through promotions, community development, and online hackathons. In other words, the funds will be redistributed to the community that supports and believes in RENEC.
- Unlocked Calendar: Year 1: 20% unlocked for 3 months from 01/10/2022 to 31/12/2022 weekly (every 7th Saturday).
- Year 2: Unlocked 20% monthly (the first day of each month).
- Year 3: Unlocked 20% monthly (the first day of each month).
- Year 4: Unlock 20% monthly (first day of each month).
- Year 5: Unlocked 20% monthly (the first day of each month).
