September's end of the month update is out!
Click here or read below:
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Dear RKC token holders, In the middle of September,
we had already shared our progress with you, but we have even more updates for the end of this month.
As you know, the point of our ICO was to make a transition from white label business to taking on innovative Blockchain-related projects. As we are progressing in that, we are still following through on our prior commitments to the existing clients, and we’ll explain why it’s excellent news for all our contributors.
We have partnered with ArabianChain Technology FZCO, a UAE-based venture and a company committed to "unlocking the potential of tomorrow’s economy by enabling today’s blockchain innovation". We wish them success in bringing this vision to life.
The result of our collaboration is Palmex, a cryptocurrency exchange targeting the Middle Eastern market. Palmex is going to be the first professional digital assets exchange in MENA that offers advanced trading tools, multiple cryptocurrency pairs, rigorous security measures, and low trading fees. The platform is a branch of ArabianChain, the developer of the first public and decentralized blockchain in the region, and also the first decentralized, mineable and tradable cryptocurrency in Arabia: DubaiCoin (DBIX). Our collaboration is based on one of our white label solutions but the ArabianChain team brought a lot of ideas to the table, including killer features tailored specifically to their customer base. We are excited to tell you that right now, at the end of September, we delivered our part and they are deciding on the dates of a soft launch and a full launch, and will announce them soon.
Why does this matter to you? It matters because we have agreements with all our clients about profit sharing. Royal Kingdom Enterprise is entitled to
20% of all fees and commission on Palmex, after three months from the launch. It will exist as one of our revenue streams. And as you know, starting from January 2018, all of our profits (revenue minus costs) will be used to support RKC.
- Each month will culminate with ½ of all company profits converted to RKC, by buying it from the exchanges (“pumping” the price by “eating” sell orders);
- Bought RKC will be distributed proportionally among all token holders as premiums;
- And the other ½ will be reinvested back into the company.
Palmex is just one of the revenue streams we are going to have. We are diversifying our revenue structure, not only to reduce financial uncertainty by developing multiple revenue streams based on our core competencies and mission, but also because we are determined to make sure you, our long-term token holders, see the evidence that you’ve made the right choice when the first premiums drop, regardless of the success of any new project.
Stay tuned!
Public Relations Department
Royal Kingdom Enterprise Limited
[email protected]