On May 4 an important stage of negotiations has been held with representatives of Bittrex, during which all prospects and conditions for the listing of the token were discussed, and the further direction for work was determined. To implement the addition of RLT on the exchange, the founder of Bittrex Bill Shihara has provided us with the requirements necessary for execution. Due to the fact that the Bittrex administration is based in Nevada and operates under US legislation, the tokens listed on the exchange are subject to limitations connected with the prohibition of the distribution of dividends in ether.
We understand that listing on the exchange is high priority event, important for all holders of the token, therefore, basing on the recommendations of Bittrex, it is planned to change the dividend payment system with the distribution of dividends in RLT tokens, which will be purchased at the average weekly exchange rate and distributed after the purchase. Entry into the exchange will have a positive impact on the value of RLT allowing investors trading digital shares in pair with other currencies.
To receive feedback from the owners of the tokens SmartPlay.tech launches a three-day poll the participants of which will be able to express their opinion on the implementation of these changes and in case of disagreement vote against them. Owners of RLT tokens can confirm their disagreement by sending the minimum amount of transaction 0.0001 ETH to the address 0x144048309E703BfD7a04527e58644F87F5dDDBa7. If the investors and players whose total share of RLT is more than 50% of the amount participating in the ICO and testing the platform (about 2,100,000 RLT) vote against, the changes will be canceled and another option of the work the exchanges will be developed. Voting will last until 7 p.m GMT on May 11th, 2017.
Detailed information on the changes
The mechanism of the distribution itself won't be changed. If the required number of ethers is accumulated on the gaming contract balance (at the moment it is not less than 50 ETH), the funds will be sent to the exchange and the orders for the purchase of RLT tokens will be created. The initial price is expected to grow by several times and in the future will be calculated from the weekly average exchange rate. Immediately after entry of SmartRoulette to Bittrex the cost of RLT will increase, which will not only increase the size of dividends of token holders, but will also create favourable conditions for its sale. The distribution of dividends in the form of tokens will be produced after the completion of the order. In the event that a change in the price occurs during the purchase of tokens, the rest RLT will be purchased at a new cost. Owners of tokens after adding RLT to the exchange will also be able to make a sale for a favourable price.
Calculation of the average value based on the minimum and maximum prices can be made by each user. SmartPlay.tech chose weekly period based on the fact that at the moment the distribution of dividends occurs on average basis once a week. In the future, as the activity on the site and the frequency of distribution sum accumulation increase, this parameter can be changed.
Results of voting
According to the results of voting, 4 users voted against the changes, one of which has no tokens on the balance. Total share of these token holders comprises 0.007% of all the volume. Based on the results of the voting SmartPlay.tech announces the changes required for listing on Bittrex to be approved by the users. All the necessary operations to introduce the modifications are to be implemented by SmartPlay.tech in the nearest time.