FAQ

The highlighted are the top 5 question to go into the FAQ focused on buying the Tokens.

GENERAL

What is rent24?

rent24 is a leading international provider and network of coworking and coliving spaces, offering members services like private offices, conference rooms, community events and lounge areas. Members also have access to restaurants, cafes, bars and fitness studios to be able to balance a healthy work lifestyle.

Where can I find more information about rent24?

You can find more information from the rent24 website at www.rent24.com

What is PRIMARY?

PRIMARY is a dApp (decentralized application) created to encourage cooperation, participation and knowledge transfer in the digital industry. It is not limited to our members, meaning everyone can join the platform. The network consists of three major components (1) physical rent24 blockchain hubs, fully equipped campuses for coworking and coliving located in major cities worldwide (2) a decentralized blockchain platform with a powerful reward system built to engage collaboration between its members and (3) a token system which links the digitally created value to the world economy.

What comprises the current ecosystem?

We create worldwide technology hubs for entrepreneurs, founders and innovators – where our members can live, work, learn and grow together. Our community is boosted by events, workshops and activities.

  • Worldwide coworking and coliving for innovation drivers
  • A team of over 150 enthusiasts working on three continents
  • 35 operating coworking and coliving spaces (June 2018)
  • Goal of 120 locations by end of 2019
  • Extensive partner alliance

PRIMARY PLATFORM

What is a PRIMARY token and how does it function?

The PRIMARY token will be tradeable with other token on public crypto exchanges. The token will comply to the ERC20 token standard. This token will be issued during the Initial Coin Offering (ICO).

What is a GRAVITY token?

The rent24 Gravity token is a stable token, which means it is fixed to the USD (more about stable tokens below). This token is usable only on our platform, meaning you cannot trade this on the open market. It can be exchanged into PRIMARY token or goods and services in our ecosystem and partner alliance.

What is a stable token?

A stable token is a token which is set to another ‘stable’ asset like gold or in this case the USD. It is a global currency but not tied to a central authority and has low volatility.

What is ENERGY?

Energy is a unit of measure for member participation within the ecosystem. A limited amount of Energy is given out to each member by the platform every 48 hours. You can receive energy from other members or the platform when you are rewarded for completing a task or attending an event. The more you are active within the rent24 ecosystem the more recognition you receive which in this case is given out in the form of energy, which is comprised of 50% PRIMARY and 50% ENERGY.

Which tokens do I lock to receive more Energy?

You lock PRIMARY tokens in order to receive ENERGY. Members are incentivised to lock their PRIMARY tokens as they will gain rewards (Energy) for holding their tokens and for conducting tasks and interacting.

What other benefits do I get by locking my PRIMARY tokens?

  • Larger airdrops and reward percentage in each rewarding/airdrop cycle
  • Larger return of contribution when holding
  • Higher voting weight in the online community
  • Larger discounts at the partner companies and businesses
  • Higher vote weight in member recommendation
  • Possibility to be considered for venture capital funding

What does rent24 do with my PRIMARY tokens once they are locked?

Nothing, because the platform locks your tokens and they cannot be used by rent24 or other members. It is like they are frozen until the unlocking process is finished.

How long do I need to lock my tokens to be able to gain Energy?

You can lock your tokens for an unlimited amount of time however to access the tokens again you will need to unlock them. The unlocking process takes 100 days.

What is the Member Score and how do improve my status?

Member Score is measured by your energy levels and the amount of tasks you are solving on the platform. An algorithm calculates an unique Member score which reflects your true contribution. This is to give everybody an opportunity to grow in the community on fair terms.

When is the platform ready for participation?

The platform will be launched after the ICO sale is finished and our token is available on the exchanges. According to our roadmap this will be in March 2019.

CONTRIBUTION & BENEFITS

What are the main benefits?

For Users

  • Getting reward for locking tokens on the platform
  • Rewarding system completing tasks or participation
  • Rewards can be exchanged to goods and services
  • Discount on goods and services from partner alliance
  • Digital network builds source of acquiring new clients and jobs
  • Connecting with business partners, potential co-founders, venture capitalist
  • AI supported match making of contacts, clients, jobs according to users background and skill set
  • Additional incentives get unlocked to active members (e.g. voting rights, access to Blockchain Hubs, etc.)
  • Knowledge transfer accelerates progress of new technologies
  • Kick-start through existing community base

For Contributors

  • Tokens issued by existing trustworthy company with working infrastructure and proven business
    model
  • Proven track record in the field of IoT, AI, blockchain (payment gateway, exchange)
  • Increasing demand for tokens through:
    • Clearly defined rollout strategy of new locations according to business plan (End 2018: >60
      locations ; End 2019 >120 locations)
    • Expansion of partner alliance (coworking partners, local shops / stores, e-Commerce offerings)
    • System designed as open network with multiple growth mechanisms
  • Existing customer base acts as an accelerator of the project and token
  • Payment system already under testing

TECHNICAL QUESTIONS

What blockchain is PRIMARY built on?

The platform will be based on the EOS IO blockchain. EOS is open source software which is a platform that supports decentralised applications (dApps) to deploy high performance blockchain smart contracts platforms, which has the potential of thousands transaction per seconds.

Will there be a mobile application?

Yes. It will run on iOS as well as Android.

What are the benefits of using EOS?

EOS is scalable for industrial applications.

What is a decentralized application (dApps)?

Decentralized applications (dApps) are applications that run on a P2P (Peer to Peer) network of computers rather than a single computer. dApps are programs that are not controlled by a single entity.

What is a smart contract and why are they noteworthy?

Smart contracts are digital protocols for information transfer that use mathematical algorithms to automatically execute a transaction once the established conditions are met and that fully control the process.

Can the code for the smart contract be reviewed?

Yes it will be open source and eventually available on Github once we know it is free of bugs and stable enough to share.

Will your project run on the current EOS chain or just on EOS IO based software with a separate chain?

We will run our project on the current EOS chain, series of smart contracts on top of eos. It‘s fast enough no need for sidechain for now.

BLOCKCHAIN & CRYPTOCURRENCY

What is a blockchain?

A digital, decentralized ledger in which transactions are recorded chronologically and publicly. This means anyone can access in order to see the transactions that took place. Instead of having one single centralized source of verification, the blockchain enables a decentralised verification process where the verification is done in several “blocks” rather than through one single verification.

What is a cryptocurrency?

A digital or virtual encrypted currency which is not controlled by a central authority, rendering it theoretically immune to interference or manipulation.

What is EOS?

EOS is a blockchain platform for the development of decentralized applications (dApps), similar to Ethereum in function. It provides a complete operating system for decentralized applications focused on the web with services like user authentication, cloud storage, and server hosting.

SECURITY

How can I keep my rent24 account secure?

  • Never share your passwords online.
  • Use a password manager.
  • Alway check the URL for a secure HTTPS website.
  • You can ONLY purchase tokens through www.primary.io NEVER through any other website.
  • We will never ask for your private key or directly for payment, all payments will always go through the rent24.io website.

How do I report a phishing website?

If you encounter a phishing site related to PRIMARY we encourage you to contact us through email.

HOW TO BUY / CLAIM TOKEN

How can I buy PRIMARY tokens?

First step is to register a dashboard account. In order to buy PRY token you need to have cryptocurrencies available at a wallet or exchange account (wire transfer will be available during main sale). We accept the following cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin, Bitcoin Cash, Bitcoin Gold, Dash, Stellar Lumens (XLM). Token sale starts at 1st of September 2018. It is possible to apply for a private pre-sale which will be launched on 1st of August 2018.

Where can I get cryptocurrency (Bitcoin, Ethereum, etc.)?

You can buy cryptocurrencies on crypto exchanges like Binance, Bitfinex, Coinbase, etc. A list of the largest exchanges offers the website coinmarketcap. You have to set-up an account at one of those exchanges in order to buy cryptocurrencies like Bitcon, Etherium, Dash, etc.

What are the steps to buy PRIMARY tokens?

  • Register for a dashboard account
  • Confirm your email address
  • Login to your dashboard account
  • Conduct the KYC (identity verification process)
  • Click on “Buy tokens” in the menu (Note: active ICO stage is required)
  • Select the cryptocurrency you like to use (e.g. ETH, BTC, etc.)
  • Type in the amount you wish to buy
  • Click on “place order” – a new window appears which shows you a unique wallet address associated with your account
  • Copy the wallet address (or scan the QR code in case you are using a mobile wallet)
  • Go to your personal (ETH / BTC / etc.) wallet or exchange account and send the exact amount of cryptocurrency specified in the order (point 6) to your unique wallet address
  • Once you Place your Order and transfer payment you will see your Tokens in the Token balance (upper left corner of the Dashboard). Depending on the speed and congestion of the Blockchain this might take from a few minutes up to a few hours.

What is KYC (Know Your Customer) and why do I have to do this?

In order to buy PRY token you are required to go through a KYC verification process. This is a quick background check which will not take longer than 2 minutes. This check is done on your dashboard account and requested by anti money laundering law.

Where can I see my PRIMARY token balance?

Acquired token balance will be visible in the dashboard after login.

Is there a minimum amount I can contribute?

The minimum amount of token to purchase is $10 USD (100 tokens) during the main token sale stages.

I successfully bought PRIMARY tokens – when and how can I claim them?

Tokens will be distributed after the token sale is complete (28.02.2019). Tokens will be sent to the respective EOS wallet you added to your dashboard. You will receive further information before tonkens will be send to this address. We recommend downloading a hard wallet. Examples are dyos wallet (iOS and android app), simpleEOS (desktop) or Trezor (hardware).

CONTACT INFORMATION

What are the contact details of rent24 PRIMARY?

You can chat with our team every day of the week through our LiveChat or social media channels.

For other questions:

© r24 AG 2018