Bitcoin holders, later this month, can claim a FREE crypto-dividend, of the new Rhombus Coin. Like previous BTC airdrops such as XRC and MWC, all that will be required to claim it, on or just after December 20th, will be to sign a unique Rhombus Coin message with your wallet.
The BTC chain snapshot will occur tomorrow, December 5th, although the snapshot process often takes longer than anticipated. So, to not jeopardize your ability to claim RHOM Coin, it is probably best to not move BTC until tomorrow.
RHOM offers the same Ring CT and Bulletproofs privacy technology as Monero, but in a Proof of Stake coin with significantly lower inflation. Additionally, RHOM offers “cold-staking”; i.e., the ability to stake coins from cold storage, so one controls their private keys in the process.
Given the rising interest in crypto privacy, and staking, the developers believe RHOM has the potential to garner a material market capitalization following its launch. This, atop the fact that RHOM is built on the Bitcoin codebase – and thus, via the airdrop, has the ability to leverage the BTC community’s network effect.
The initial RHOM supply will be one billion, including an 800 million development fund and 200 million for a planned ICO – of which, the maximum price would be $0.01/coin. In other words, the maximum ICO offering, to be announced at a later date, would be $2 million.
Regarding the airdrop itself, an additional 10 billion RHOM has been allocated. However, the only way this entire amount would be realized is if all holders of all 18.5 million or so Bitcoin claim it. In other words, the claim ratio will be in the neighborhood of 500 RHOM/BTC.
So, if just 1% of all outstanding BTC claim it (as was the case with MWC), the actual amount of airdropped RHOM would be closer to one billion – which, when combined with the one billion created in the genesis block, would yield an initial supply of roughly two billion. At such a supply, RHOM’s subsequent inflation rate would be around 0.25% annually, or one-quarter of Monero’s 1.0%.
After tomorrow’s snapshot, there is nothing BTC holders need to do until December 20th. As noted on the Rhombus website (below), which will be updated over the next two weeks, this is the targeted date to launch MainNet and have downloadable wallets available – which in turn, will enable BTC holders to immediately claim RHOM.
One exchange has already been engaged, to list RHOM shortly after airdrop claims start. The claiming deadline hasn’t yet been set, but there will definitely be a deadline.
I look forward to seeing how RHOM develops, amidst potentially the biggest crypto bull market yet – in which clearly, both privacy and staking will be high profile topics. In the meantime, all Bitcoin holders should claim it, via the instructions that will be posted on the RHOM website at or just after December 20th.