When will Request (REQ) coins be issued?

Request Network's decentralized payment system leverages its native REQ token to facilitate secure, instantaneous transactions, allocating tokens through a phased distribution model to incentivize users, developers, and stakers within its ecosystem.

Dec 27, 2024 at 10:45 am

Key Points:

• Request Network (REQ) is a decentralized payment network that enables users to make instant and secure payments.
• The REQ token is the native utility token of the Request Network and is used to power the network's operations.
• REQ tokens will be issued through a staged token distribution model, with the first phase taking place in Q1 2023.
• The Request Network team will allocate the REQ tokens to various participants in the ecosystem, including users, developers, and token stakers.
• The distribution model is designed to ensure a fair and equitable distribution of REQ tokens to the community.

REQ Token Issuance:

1. Staged Token Distribution:

• The REQ token issuance will occur in multiple stages over a period of time.
• The first phase is scheduled to take place in Q1 2023, with subsequent phases following thereafter.
• The specific dates and timelines for each phase will be announced by the Request Network team in advance.

2. Token Allocation:

• The REQ tokens will be allocated to various participants in the Request Network ecosystem, including:

  • Users: REQ tokens will be distributed to users who participate in the network by making payments or providing liquidity.
  • Developers: REQ tokens will be allocated to developers who build and maintain applications and services on the Request Network.
  • Token Stakers: REQ tokens will be distributed to token stakers who help secure the network and facilitate governance.

3. Distribution Mechanism:

• The REQ tokens will be distributed through a combination of methods, including:

  • Claiming: Users will be able to claim their REQ tokens by performing certain actions on the Request Network platform, such as making payments or staking tokens.
  • Airdrops: The Request Network team may conduct token airdrops to distribute REQ tokens to the community.
  • Exchanges: REQ tokens will be listed on select cryptocurrency exchanges, where users can buy and sell the tokens.

4. Token Utility:

• REQ tokens are the native utility token of the Request Network and are used for a variety of purposes within the ecosystem:

  • Transaction Fees: REQ tokens are required to pay for transaction fees on the Request Network.
  • Network Governance: REQ token holders can participate in the governance of the Request Network by voting on proposals that affect the development and operation of the platform.
  • Developer Incentives: REQ tokens can be used to incentivize developers to build and maintain applications and services on the Request Network.

FAQs:

When will the REQ token be listed on exchanges?

• The REQ token is expected to be listed on select cryptocurrency exchanges shortly after the first phase of token distribution is complete in Q1 2023.

How can I purchase REQ tokens?

• REQ tokens can be purchased through supported cryptocurrency exchanges. Please note that the availability of REQ tokens on exchanges may vary depending on your location.

What is the total supply of REQ tokens?

• The total supply of REQ tokens is 1 billion.