IPCO distribution is over!
But Reddcoin, what is an IPCO?
Initial Public Coin Offering (IPCO)
When Reddcoin was first introduced, the development team introduced an Initial Public Coin Offering of 5.45 billion Reddcoins in exchange for Bitcoin from interested investors. This money raised would be used to support in the development, publicity, and support of Reddcoin during and after launch. Over the following weeks, 168.8347 Bitcoin was raised, or over 0,000 USD. To prevent a large influx of Reddcoin to the trading markets after launch, the 5.45 billion Reddcoins were distributed to the 386 investors over a 90 day time span at 1.11% of the total to be received distributed to each investor each day, ending in mid-May 2014.
