Synereo AMP - Rchain RHOC & Rev journey had a closure today on CubFinance - The long story with a happy ending

in LeoFinance2 months ago (edited)

This is a very long story with a happy ending. I will give you the outline of it since the whole story with the dirty details would probably fit in a novel.

Some of you might remember Synereo $AMP ICO many years ago. It was their second ICO and one of the most successful in the year 2016 with over $4 M gathered. This was before the time of ICO craze, mind you.

They wanted to build a social media attention platform where users would AMPlify each other's content. Sounds familiar?

The ICO was held through the BankToTheFuture platform. With the investment, you could opt for AMP tokens or classical shares. The minimum amount to participate was $1,200.

As I said, the ICO was a blast. This was in September of 2016.

In November of the same year, we received $AMP tokens in our OMNI wallets. Another ancient name.

Then the story turned ugly. The messy divorce between Dor, the CEO from Israel, and Greg, the CTO from USA happened. The stakeholders were put in front of a dilemma about which way to choose. $AMP way which offered a social platform quickly and with shortcuts, or (future) $RHOC way which promised sound technology and long term success.

At the time I was very active in the project. I even installed one of the first working $AMP client nodes. Then the breakup came and we were left in the wild.

I choose the $RHOC because I believed in the people behind it. It turned out to be the right decision.

Synereo later made two tries of a social app which were a complete flop. In the end, they quit the business taking their part of the ICO with them. Good riddance.

RHOC guys were quietly cooking their platform and formed the Rchain Cooperative which is, in my opinion, one of the prime examples of how to build proper governance and community structures in the legal and officially endorsed way. Here is the Rchain Coop site.

Do read it, at least partially. It is a novel initiative with not enough exposure.

Anyway, back to my story.

$RHOC lived its life as an ERC-20 token. The promise of its own blockchain was in the works for a long time and postponed several times. Finally, about a year ago, Rchain mainet came to be.

$RHOC tokens were snapshotted to their new home and renamed as $REV tokens.

What about the value of the tokens throughout this journey, you might ask? The price plummeted after the divorce, of course, to one-tenth of the original value. I was holding my $RHOC in hope that one fine day it will recover. Which it did.

Today I finally decided to sell it. This task was a journey in itself. With a hiccup at the start, it turned out to be a great experience in exchange and chain hopping.

Oh, the selling price, you ask? Almost twice as the buy-in five years ago. I am very satisfied with the outcome. Yes, I know. With $BTC or any other major coin, it would have been much more. Yet, not everything is about money. The journey and adventure count too.


From $REV to CubFinance

Yes, @cubfinance was the reason I decided to sell. I want to ride the optimism wave with as much wind in my sails as possible. So I am converting various hidden stashes to CubFinance pools. Believe me, this stash was well hidden.

I needed to find what the key to the $RHOC wallet was. Remember, it was five years ago. This is ancient history in the blockchain world.

Finally, I found the private key and the address associated with it. Yes, my coins were there. Now, how to move them and where to?

It turned out that I needed one of the wallets on the REV issuance for RHOC holders site.

After I managed to convince the MyRchainWallet, a MEW clone, to cooperate, the question presented itself - which exchange deals with $REV tokens? It turned out that the only option is MXC. OK, one is enough as long as it is performing its function. In fact, it surprised me very pleasantly.

Here is the chain of events, from Rchain to BSC:

  • transfer $REV from Rchain to MXC via MyRchainWallet,
  • sell $REV to $USDT - Tether was the only option, and the best option too,
  • send $USDT from MXC to my CubFinance address on Binance Smart Chain - directly!

image.png

Yes, this last item was a total winner. If you followed the boring story up to this point you might be as flabbergasted as I was when I found out that MXC support direct transfers to BSC. Amazing! I don't believe there is any other exchange besides Binance that can do this. Full respect to MXC!

Besides, I even didn't need to go through the KYC. And the fees were almost zero.

The transaction was performed in seconds. With $USDT safely on CubFinacec, all I needed to do was to buy $BUSD and $CUB and pool them.

If you followed my previous article about DEC to CUB journey you will agree that this route with $REV to $CUB was more direct. Who would have thought ...?

In the end, I was so happy because I performed two important deeds:

  • made a successful closure with a troublesome $RHOC situation,
  • substantially increased my @cubfinance involvement.

A happy end indeed.


I told you this story to keep you entertained, to show you that patience pays out and that there always is a way to move your assets of any kind in the desired direction.

There are many details that I skipped to keep it as short as possible. Even with that intent, the article above is by far the longest I've written in a long time. Another successful and satisfying deed. I should do that more often.


Disclaimer

I still firmly believe in the Rchain Cooperative and remain its member. I also believe that CubFinance is an opportunity that should be embraced with all your capabilities.

DId you notice that it is all about the believes in the crypto world? :)

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