Statement About Premiums

Creating a coin with automatic premium sharing was an innovative experiment. RKC smart contract was designed in such a way as to provide a mechanism to distribute any designated payment amount in RKC among RKC owners, without any action from them.

However, we have come to a conclusion it would be much more beneficial for all sides to instead burn the premiums, rather than splitting them.

Economically, it should have the same outcome for RKC owners. But on top of it, this will drastically simplify the mechanism, you wouldn’t have to worry anymore about the location of your coins, and finally, we want to distinguish between RKC model and the way traditional dividends work even more to minimize legal risk.

The premiums will be sent to a provable burn address and locked there forever, thus decreasing the supply every time: 0x0000000000000000000000000000000000000000.

The first time this is planned to happen is right on schedule, January 31/February 1. No action from your side is required. Stay tuned for the updates.