How to buy RNC

Introduction

RNC (ResNet Coin) is a token on the Solana blockchain and serves as the shares of the ResNet project. You can buy and sell RNC on the raydium.io platform, swapping USDC and RNC.

How many RNC exist? Fixed supply of 10 million, no new RNC can be created. Mint address: RNCoMmGbjMKg6aJRfpoosnjuP7Xp2MLrYn1bvdr5usE.

  • 1.1% initial liquidity on raydium.io.
  • 15% liquidity reserve to keep RNC price on target trajectory, see below.
  • 3.9% reserved for the ResNet Team, the Core Advisory Board.
  • 4x 20% reserved for 4 payout phases to app users, see whitepaper:
    • Phase 1, while price is above 0.8 USD, not before 1 Feb 2028.
    • Phase 2, while price is above 4 USD, not before 1 May 2031.
    • Phase 3, while price is above 20 USD, not before 1 Sep 2034.
    • Phase 4, while price is above 100 USD, not before 1 Aug 2039.

Currently, the liquidity reserve mechanism (selling RNC if the RNC price is “too much” above target, and buying RNC if the RNC price is “too much” below target) is applied manually. We will be exploring algorithmic approaches in the future.

The 4 payout phases are currently not yet automated, but the corresponding RNC are locked using the Bonfida token vesting program.

The price target until 2028 is given by

which is supposed to be mainly driven by new app users over time given by

The long-term target trajectories are given by

It is not clear whether these targets will be achieved. Timing adjustments might become necessary, we will closely monitor the progress, see graphs below. Furthermore, note that there are several investment risks involved:

  • Depegging of USDC, as already observed during the collapse of the trading platform FTX, when USDC was traded below 0.9 USD.
  • Collapse of Solana, Raydium (as long as this remains the only way to buy and sell RNC), or the collapse of all ways to exchange USDC 1:1 into USD and then into your preferred local currency.
  • The app does not spread as expected, the RNC price does not appreciate as expected, investors start selling, the RNC price drops back to the initial 0.05 USD – or even below in case the members of the Core Advisory Board sell as well.
  • Last but not least, and most relevant: you lose your private key to your Solana wallet.

Live monitoring since 01 Jan 2023

See also on coinmarketcap.com.

Instructions how to buy RNC

In order to buy RNC you will need a Solana wallet, we recommend using the Phantom app on your mobile device. Also, you need to use some platform to exchange your fiat currency, e.g., USD into crypto currencies, e.g., SOL and USDC. We will not give any recommendations, but we advise in general to remove any currencies from any platform as quickly as possible. Only use the platforms to exchange, and then move to (cold) wallets where you possess the private key yourself.

  1. Download Phantom and create a new wallet, see “Download Phantom for Mobile” here.
  2. Note that Phantom also offers ways to buy crypto currencies, see here, but you might want to use your favorite platform to buy SOL and USDC.
  3. Send/deposit SOL (due to low transaction fees, 0.01 SOL will be fully sufficient for many, many transactions) and USDC to your Phantom wallet using the Solana network, see here.
  4. Note that you can also swap SOL into USDC, in case you only have SOL but no USDC, see here.
  5. Finally, tap on the “globe” tab on the Phantom app to access Raydium. Copy-paste this URL into the URL text field at the top, connect your wallet, and enter the amount of USDC you would like to swap into RNC and confirm the transaction.

In case you need support, feel free to contact us via “Contact”, see below.