Transparency, authenticity, and inclusivity have found a new manifestation in blockchain technology and web3. The incredible possibilities for blockchain in aspects such as culture are immense and unpredictable. Multiple industries are looking into and implementing the new wave of Web3. REAUTY is a token to support what’s next in the Beauty industry, which will be controlled and built by the community. This community will lead initiatives that drive a new beauty ecosystem into the Web3 arena, working as a decentralized protocol layer for this community.
The Reauty Foundation’s goal is to authentically and inclusively steward the growth and development of the Reauty ecosystem while leveraging funds controlled by a multi-signature (or multi-validated) wallet. The Reauty Foundation would provide a substructure for coin holders to collaborate through an open and permissionless governance process.
The Foundation acts as the guardian of the ReautyCoin, not an administrator, but the basis on which ReautyCoin holders in the REAUTY DAO can build. Having a community-led and distributed governance is the key to the REAUTY foundation with the continuous evolution of decentralization over time.
Day-to-day tasks such as accounting, development management, and administrative tasks are coordinated by it to ensure the DAO community ideas have the support required to bring ideas to reality.
Reauty comprehends the significance of having a worldwide community and appreciates this new decentralized management method and its importance in sustaining a thriving ecosystem. The REAUTY DAO Improvement Proposal Process (see Governance) allows members to vote on community fund allocations, governance rules, initiatives, and partnerships, among other things (see Governance). All ReautyCoin holders may become members of the Reauty DAO.
Reauty DAO members can rely on the Board of the REAUTY Foundation (the DAO’s “Board”) to ensure that Foundation administrators follow the rules. The Board’s function is to administer DAO proposals and serve the community’s vision. Reauty DAO standards require an administrative review of DAO proposals, and the REAUTY DAO members and the Board vote to consider them. After the initial 12-month period, DAO members will vote on Board members annually.
Founder & CEO of Blingy, Founder of Blingy Lab & ReautyDAO
Co-Founder & CFO of Blingy, Co-Founder of Blingy Lab & ReautyDAO
Co-Founder & Creative Director of Blingy Lab, Co-Founder of ReautyDAO
Beauty advisor & Expert of ReautyDAO
Founder of Konjo Tech, Co-Founder of ReautyDAO, Blockchain & Crypto Expert
ReautyCoin is the 1st Beauty Governance Token with future commercial and social utility. Created with the ERC-20 standard, ReautyCoin empowers holders in the Reauty DAO ecosystem to build a better beauty community in Web3.
The open-sourced protocol layer of the ecosystem, ReautyCoin serves several purposes:
ReautyCoin is the ecosystem’s governance token, allowing ReautyCoin holders to participate in Reauty DAO proposals, improvements, and voting.
ReautyCoin is the Reauty ecosystem’s decentralized utility token, giving the holders a publicly accessible currency that can be used without third-party approval and a broad commercial use case in the beauty world.
ReautyCoin provides the privileges of the Reauty ecosystem, such as Airdrop of popular beauty products, VIP beauty events, Product discounts, Free samples, and Free beauty services. Also, users who provide their personal beauty data become eligible for ReautyCoin rewards.
The total supply of ReautyCoin is permanently fixed at 1 billion tokens. No minting or burning capability is possible through the smart contract. Thus, the total supply will always stay the same.
Allocations of ReautyCoin tokens will initially be locked for project contributors. Locked tokens will be unlocked over 24 months, per the token distribution schedule below, starting on launch day, June 30, 2023.
ReautyCoin will be allocated to four main groups, as detailed in the chart below.
ReautyCoin or NFT holders and treasury/resources
All unlocked for the claim at launch
100,000,000 unlocked at launch time, then 11,250,000 unlocked per month for approximately 48 months
The company behind REAUTY and continuing contributor
Initial lockup 12 months, then 833,333.33 unlocked per month for 12 months
Initial lockup 12 months, then 5,000,000 tokens unlocked per month for 12 months
Initial lockup 12 months, then 2,500,000 unlocked per month for 12 months
The companies and people that supported this project are legitimate
Initial lockup for 12 months, then 8,333,333.33 unlocked monthly for 12 months.
The ones who put the REAUTY in ReautyCoin and DAO, the critical founders of Reauty DAO
Initial lockup for 12 months, then 8,333,333.33 unlocked monthly for 12 months.
Tokens will be allocated to Baebee NFT members via the about page -Claim section starting on July 31, 2023, at midnight EST.
To ensure a fair launch of ReautyCoin to Beabee NFT holders, the allocation is informed by the difference in the floor price of Beabee NFTs. Each Baebee NFT can claim the amount of ReautyCoin specified below.
ReautyCoin is allocated per NFT or NFT pair
9,200 Reauty tokens per NFT
60,800 Reauty tokens per NFT
6% of the total ReautyCoin token supply is allocated to Beabee NFT holders. NFT / ReautyCoin airdrop process:
The REAUTY Foundation was gifted a 1-of-1 NFT by Blingy Tech, the IP owner of Reauty and Beabee. Blingy Tech has transferred all privileges and rights to Baebee NFTs and its underlying artwork to the Reauty Foundation. The ReautyDAO can decide how intellectual property is utilized.
WHO/WHAT ARE THE DIFFERENT COMPANIES AND NAMES, AND HOW ARE THEY RELATED?
Blingy Tech – Blingy Tech is an internet company best known for creating the Reauty App. Blingy Tech will be a community member in the Reauty DAO and adopt REAUTY as the primary token for new projects.
Blingy Lab – Blingy Lab is a modern web3 project incubator and business consulting company to incubate and launch the Reauty DAO project. It would be a community member in the Reauty DAO and adopt REAUTY as the primary token for new projects.
BAEBEE – The BAEBEE is a collection of NFTs created from digital artwork, where the token itself doubles as membership in Reauty DAO.
REAUTY Foundation – The legal entity which administers and governs the Reauty DAO.
Reauty DAO – A decentralized beauty community. This group makes decisions for the distribution of Ecosystem Funds, rules and regulations, projects, governance, partnerships, and more. Reauty DAO membership is open to all ReautyCoin and Baebee NFT holders.
REAUTY – The symbol for the ReautyCoin token.
DOES THE FOUNDATION CONTROL REAUTYCOIN AND/OR THE REAUTY DAO? IF NOT, WHAT ROLE DO THEY PLAY?
The Foundation does not control ReautyCoin or the Reauty DAO. The Foundation consists of an administrative Board overseeing the decisions of the Reauty DAO and a third-party project management team ensuring Reauty DAO decisions are implemented.
A decentralized autonomous organization (DAO) is the optimum way to give every community member a vote on important decisions, such as technical upgrades, funding decisions, or voting on a new plan. However, the reality is that a DAO is unable to sign a lease, hire employees or manufacture products, or execute actions based on community decisions. The Foundation is responsible for daily administration, accounting, managing projects, and ensuring community ideas from the ReautyDAO become a reality.
HOW WAS THE FOUNDATION BOARD SELECTED?
Certain community members with solid operational experience were consulted on how to best structure the Reauty DAO. Several of these members have decided to join the Board to oversee the community’s decisions and are committed to the ethos of ensuring the decentralization of the Reauty DAO. The initial Board will serve 12 months.
WILL THERE BE AN OPPORTUNITY FOR OTHER INDIVIDUALS TO JOIN THE BOARD?
Yes. After the initial 12-month term, DAO members vote annually to appoint new board members or keep existing ones. ReautyCoin holders (DAO members) can replace or remove Board members with a majority “YES” vote at any time.
WHAT ROLE DOES BLINGY TECH & BLINGY LAB PLAY IN ALL OF THIS?
Blingy Tech, Reauty, and Baebee IP owner to assign the IP right to Blingy Lab and Reauty DAO. Blingy Lab is a contributor to the Reauty Ecosystem and will assist in creating products and experiences for the ecosystem.
WHAT WILL THE CHARITABLE DONATION BE USED FOR?
The donation will go to environmental charity organizations, such as EWG.
