600M Ad Blockers downloaded
Estimated 90% of people skip ads
Lack of incentives for Users to watch ads
High Platform Fees
High Middleman Fees
Loss of control of content and pricing
Billions lost in revenue a year
Increasingly easier to Pirate
No incentives on platforms for users NOT to pirate content
Rbits are mined by Users completing "Value" transactions on the RHOVIT platform. A value transaction is anytime a Coin or Rbit is given or earned. For every set amount of value transactions, 1 Rbit is mined and then distributed on a weekly basis, with a max amount of Rbits able to be mined each week.
Each week 60% of the mined Rbits will be distributed to Content Providers based on their "Activity Score" for the week.
A Provider's Activity Score is based on Coins spend on their products as well as number of other value transactions their products garnered.
The Rbits Providers receive are split into two wallets. Wallet A is theirs to save or exchange off site for other crypto-currencies or fiat money. Wallet B is for investment back into the community and is used to promote their products and incentivize their users.
40% of the Rbits mined each week are put into a User Pool. Based on the market cap of the pool, RHOVIT will distribute 2% or 3% of that value in Coins out to Users. Users receive their portion of Coins based on their activity score.
A User's score is based on Coins spent on products as well as total number of other transactions completed.
Once a year the User Pool will have a "Watershed". All the Rbits contained in the User Pool at the end of the year will be distributed out to Users based on their "Yearly Activity Score."
The amount of Rbits able to be mined will decrease every two years until they reach a steady level. As they decrease the number of transactions needed to mine them will increase.
This ensures there is always value to be had by both Users and Providers while still ensuring scarcity. If transactions or not numerous enough to support new Rbits, then they will not be mined.
Amount of Rbits per Eth will be set 3 days prior to sale
(approximate numbers will be 140 - 180 per Eth)