After one year of mining the Remitano exchange native coin RENEC, the platform has started the mainnet launching process starting on October 1 2022 till October 20 2022 which will be in three phases.
The RENEC MainNet launch process stages are as follows:
Stage 1: From October 1, 2022, till the end of October 5, 2022, the first stage of the genesis block launch will commence.
Stage 2: The second phase starts on October 6, 2022, till the end of October 19, 2022, for the MainNet stability test phase. The developer will perform the final tests to ensure the network is operating stably as possible.
Stage 3: This is the final phase where users can officially start to use the network to perform transactions such as depositing or withdrawing RENEC and exchanging RENEC with other coins. It is expected to start on October 20, 2022.
According to the announcement, miners who mined RENEC and who have not done the KYC up to level 2 their mined renec will be burned entirely after September 30, 2022, when the mining program ends.
However, the mined RENEC will be locked and unlocked in instalments for five years.
20% of mined RENEC will be unlocked yearly and it will be released every Saturday throughout the year to complete 20%. Read more on the announcement page to understand the unlock plans.
After stage 3 of the process, the public can buy sell swap the renec to own it.
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