Aleksandrs Puzdrans
RxEAL - Securing Leasing and Rental Deposits ICO ICO
300.00 Soft Cap, ETH
35,575.00 Hard Cap, ETH
12 Mar, 2018 - 11 May, 2018 Campaign Duration
504,15 ETH Raised
10 Backers
60 Duration, days
300.00 ETH Soft cap
35,575.00 ETH Hard Cap
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RxEAL is a platform for trustless and safe security deposit storage on the Ethereum blockchain providing a decentralized dispute resolution with the main focus on real estate and automotive rental markets valued hundreds of billions USD combined.

All contributions on Kickico will receive 50% bonus rate of 1800 RXL for 1 ETH and get additional Kickico benefits. Contributions made on Kickico are limited to 500 ETH worth of KickCoins or Ethers total. If you would like to contribute more or after Kickico limit is reached, please participate from our official website.



RxEAL solves the real problem

A security deposit is a measure used to cover any losses suffered by the rental property, however, handing over the funds to the other party for storage is an issue of trust. The paying party cannot be certain that the deposit has been stored safely and that the other party will return the deposit. Furthermore, at the end of the agreement, it can take weeks for a lessee to receive their deposit back, and there is a potential for disputes to be resolved in courts, taking up even longer periods of time.

RxEAL is a solution for eliminating a growing number of unfair withholdings of funds from the security deposit at the end of the rental agreement by providing an interface to engage in these activities using smart contracts requiring no technical knowledge. Not only does RxEAL solve the aforementioned problem, it also provides much faster deposit return rates and cost effectiveness compared to current off-chain solutions.

RxEAL replaces costs with value

The number of people involved in real estate, car and other rental transactions is greater than ever. The favorable conditions for travelers, emerging economies and the increasing flow of human resources across borders are causing a rapid growth in the number of transactions.

Global real estate industry had total revenues of 3.5 trillion USD in 2016. In United States alone, the total number of renters in October 2017 was almost 112 million while the number of landlords was almost 23 million.

6 billion EUR are annually lost due to disputes in UK alone. By solving the issue of trust, we are creating the added value for all involved parties, therefore our service results in a valuable improvement for the world’s largest markets.

How does RxEAL work?


By combining blockchain technology with everyday rental transactions we are able to build an entirely new way for users with no technical knowledge to take advantage of the benefits offered by smart contracts.

RxEAL is an interface designed to create and deploy smart contracts for rental security deposit storage on the Ethereum blockchain in the form of cryptocurrencies providing the ability to interact with the smart contract during the course of the agreement. Additionally, RxEAL provides a decentralized dispute resolution process ensuring the fair and timely security deposit distribution at the end of the contract term.

Underlying technology


The RxEAL project utilizes Ethereum blockchain technology in order to execute the sophisticated logic in smart contracts on the nodes within the network.

The Ethereum network is currently the most advanced smart contract platform with an outstanding team behind it, as well as an extensive library of development frameworks and a growing user base. It is crucial for our platform users to have the highest level of trust in the underlying network and the knowledge that the project is being constantly improved.

Deposits are stored inside the smart contracts and are irrevocable by any party unilaterally unless a previously programmed condition both parties agreed on is triggered by a smart contract. This approach eliminates the possibility of breaching the contract terms.

RxEAL does not store deposits nor does it have any access to the funds kept in smart contracts on the Ethereum blockchain. RxEAL is a platform that provides users with an interface to generate and deploy the smart contracts with no technical knowledge required.


To maintain the value of the deposit relative to fiat currency RxEAL in cooperation with Maker Dao will offer users to store their deposits inside a smart contract in the form of ERC20 standard compliant Dai Stablecoin. Dai is a cryptocurrency that maintains stable value against USD. Ultimately, this option will ensure that upon contract termination users will receive the amount of ETH relative to the value of the USD that was initially deposited.

Considering that the volatility of cryptocurrency is one of the main factors that discourages people from using it, the implementation of Dai deposits would notably expand the client base


Business model

The RxEAL business model is fee based where lessors use the RXL to pay for the service. We believe that our service provides a competitive advantage to lessors by allowing to offer the added value product to those who are seeking protection from unfair security deposit withholding and faster transactions, therefore lessees are more likely to choose lessor’s rental product, while lessors would be willing to pay a small premium fee for such service.

Proposed rates are as follows: 2.3% for 0-1500 USD equivalent deposits (minimum 4USD); 34.5 USD + 0.3% for 1500.01+ USD equivalent deposits; fixed arbitrator commission of 9 USD equivalent in case of the dispute.

Token economics

RXL token is a crucial element of RxEAL platform and ensures flexibility and control over the project growth. Payments for services, payouts to arbitrators and other interactions with platform will be exclusively conducted in RXL.

RXL is a fully ERC20 compliant token. The ERC20 standard ensures seamless interaction with decentralized applications and smart contracts on the Ethereum ecosystem and guarantees a fixed standard of security.


The underlying economic strength of the RXL token is its utility. The RXL token allows exclusive access to services provided by the RxEAL platform, thus making it a utility token, rather than a speculative instrument.

The value of the RXL token directly correlates with the success of the RxEAL platform. Given the fixed token supply, increase in RxEAL service usage directly leads to an appreciation of the token value by virtue of it being a unit required for paying the service fee of the platform.

Using the proposed service pricing model and the initial amount of circulating tokens the following token demand forecast can be projected (based on daily transaction count assuming 500 USD average deposit):


Token sale and distribution

During the token sale process, we will offer a total of 56% of RXL tokens. This number consists of 6% pre-sale and 50% main sale tokens. The unsold tokens from pre-sale will be transferred to the main sale, therefore, the total number of offered tokens will equal 56% in all scenarios.


Bonus tokens will be awarded during token sale stages:


The token pre-sale will begin on January 15th at 12:00 UTC and end on February 5th at 12:00 UTC or upon reaching the token pre-sale cap.

The token sale will begin on March 12th at 12:00 UTC and end on April 11th at 12:00 UTC or upon reaching the token sale hard cap.

For more detailed information about token distribution and funding allocation, please read our Whitepaper.

Timeline and milestones

Phase one – Q2 2017

  • Company launch;
  • Business idea and technological proposal for the platform;
  • Key personnel and partners.

Phase two – Q3/Q4 2017

  • Project details and roadmap;
  • Legal framework set-up for token sale and business operation;
  • Market research and industry feedback;
  • Partnership agreements and continued discussion with companies and organizations for operations, finance, marketing and product development;
  • Investor outreach and closed funding round.

Phase three – early Q1 2018

  • Agreements with business expansion partners in Unites States and United Kingdom;
  • Business expansion discussion with partners in Europe, Asia and other markets;
  • Development and presentation of the operating user interface;
  • RXL token pre-sale (January 15th 2018 to February 5th 2018).

Phase four – Q1 2018

  • RXL token sale (March 12th 2018 to April 11th 2018); 
  • Talent outreach to gather the best team for further product development;
  • Limited access beta version and testing with limited user base; 
  • Gathering, analyzing data and client feedback; 
  • Event marketing activities. 

Phase five – Q2 2018

  • Open beta/release candidate version available for all clients; 
  • Full scale marketing campaigns; 
  • Begin working with legal authorities in countries where security deposits are required to be held only by registered parties; 
  • RXL token listing on exchanges, no longer than 3 months after the end of the initial token sale;
  • *Second token sale round of previously unsold tokens (Only in case if first token sale did not reach soft cap but min cap was reached).

Phase six – early Q3 2018

  • Final release of the platform with already active client base;
  • Continued marketing and market expansion activities.

Team behind RxEAL

RxEAL team, advisor and partner network consists of entrepreneurs, web engineers, blockchain developers, lawyers, marketing specialists and industry professionals with years of experience working together, growing companies to global scale and delivering pioneering products and services. Project is backed by well-known strategic partners: McCann Riga, Scandiweb and is in negotiation stage with other notable names. RxEAL project has been presented to institutional and private investors who provided funding and made investment commitments. Positive feedback has been received from industry professionals in United States, United Kingdom, Europe and Asia.

Key team members


Dmitrijs Orlovs

Dmitrijs has gained comprehensive experience in the field of tax and finance while working in EY with companies such as L’Oréal, IBM, General Electric, Accenture and others. In addition, Dmitrijs has managed various projects in the fields of IT, engineering and marketing. Dmitrijs has also gained valuable sales and marketing experience while working as the Head of Sales in a hardware startup and while managing marketing related projects in the biggest retail chain in the Baltics.


Aleksandrs Puzdrans

Aleksandrs co-founded an agency specializing in WordPress-based solution development with more than 20,000 clients from all around the world choosing its products. Aleksandrs has studied international economics and commercial diplomacy and has always been excited by new technologies, and while working on a real estate related FinTech project in 2016 he became enthusiastic about opportunities that blockchain can provide to improve the industry and eventually this transformed into the creation of RxEAL.


Janis Dabols

Janis is experienced lawyer and financier for almost 10 years. His expertise lays in financial markets, investment management, securities law, securities regulation and corporate law. He has been working as a financial market and global economy analyst, structured private equity and alternative investment funds, complex commercial real estate transactions and has provided financial, legal and tax consultations to various corporations and high net worth individuals.

Key advisors


Aly Madhavji

Aly Madhavji is the Founder and Former CEO of Global DCX, an innovative technology company launching secure digital currency exchanges across the globe starting in India. He is also an avid investor in early stage companies, digital currencies, and Initial Coin Offerings (ICOs). He has served on various token advisory boards including Polymath and Jet8 and traditional advisory roles including the University of Toronto’s Governing Council. He is an internationally acclaimed author, publishing three books, including the award-winning book titled, “Your Guide to Succeed in University”, as part of the Succeed Series. He has lived and worked across 4 continents (North/South America, Europe, and Asia) with PwC, PayPal, Microsoft, Bloomberg, and INSEAD. He also holds the Chartered Professional Accountant, Chartered Accountant, Certified Management Accountant, and Chartered Investment Manager designations.


Luca Dotti

Luca is the co-founder at NOON Capital, a real estate developer and manager specialized in aspirational housing for young professionals and middle class families in South-East Asia. NOON is implementing blockchain technology along its whole value chain, with RxEAL playing a pivotal role in the handling of smart contracts and security deposits of the tenants. Luca spent the last 9 years in Asia, based in Singapore, and prior to NOON was Investment Manager at Valeur, a multi-billion dollar asset manager with focus on structured credit and equity derivatives.


Gunita Kulikovska

Gunita’s background lays in architecture, urbanism and urban strategies. She is a member of Forbes’ 30 under 30 and a TEDx speaker. Archipreneur has also given her praise, as she was proclaimed one of the seven most inspiring female entrepreneurs in the field of architecture. In 2016, she and her partners established a startup company Vividly embracing VR as a new medium for building better cities. Vividly is well recognized on world VR map with expertise in real-time web VR solutions. Company started as a frontier in architecture and design industry empowering projects like NY Affordable Housing Challenge, Rail Baltica Riga Station and Expo Astana.


Andrew Johansson

An economic development specialist with recent expertise in the following areas: economic impact analysis, corporate social responsibility (CSR) programme development, strategic consulting for Fortune 1000 firms, economic modelling, data visualization and analytics, and municipal finance.Prior to establishing his own sole-proprietor economic development consultancy, Andrew served as a consultant for firms and think-tanks in the US, Finland, Latvia, Lithuania and Sweden.


Ainis Dabols

Ainis has been working on tax and legal related matters for over twenty years and has proved himself as an outstanding expert in relevant fields. Currently, he is a Board Member of the Latvian Association of Tax Advisors, where he represents the professional interests of tax consultants in discussions with representatives of the Ministry of Finance and officials of Tax Administration.As a financial and legal advisor, Ainis has participated in various investment and management projects, provided consultations on tax planning, tax legislation, tax risk evaluation as well as represented his clients in financial and judicial authorities.


Kristaps Silins

Kristaps is one of the region's most distinguished brand strategists, having worked with 75+ brands across Europe, with recent campaigns in Sweden, Germany and The Netherlands. His work has been featured in international media, including the New York Times. More than 20 advertising excellence awards, including the "Strategy Oscar"-the Golden Euro EFFIE in 2014-makes Kristaps the most awarded strategist in the Baltics. Forbes Magazine has also recognized Kristaps in its 30 Under 30 ranking in 2015.

Key partners


Blockchain Founders Fund invests in blockchain projects with a future. Company focuses exclusively on adding value to blockchain technology projects with real world applications. Blockchain Founders Fund aims is to empower some of the most promising entrepreneurs with the resources to make their vision of blockchain in the global economy a reality.


NOON Capital is a real estate developer and manager seeking to reinvent how properties are designed, managed and financed in emerging markets. Company believes high standard of living should be accessible to everybody and specialize in stylish yet affordable spaces catered to young professionals and middle-class families in search of vibrant neighborhoods. From design and architecture to construction and management, NOON Capital value chain is fully integrated allowing tight control on costs and execution. Company leverages on its experience in building commercial and residential properties in Europe, and it delivers structural solutions typical of luxury developments at entry-level prices. NOON Capital is a strong supporter of technological innovations and strives to incorporate them into the financing and management of its assets, therefore it will become one of the first pilot partners of RxEAL.


Scandiweb is an award-winning digital solutions provider to brands like Walmart, Jaguar, New York Times, Happy Socks and many other global brands and startups. Scandiweb powers technology for the first decentralized publishing protocol on the blockchain and is consulting enterprises, banks and government on blockchain technology, tokenization and cryptomarkets.


McCANN Riga is part of the global McCANN WorldGroup agency network represented in 180+ cities around the globe. In Riga they are the fastest growing agency in 2016 and historically are a stable TOP3 most awarded agency in Latvia. In 2015. McCANN was the most effective agency in Europe, having received most EFFIE awards for exceptional results delivered for clients.

In 2016, after joining forces with White Label, McCANN has become the most strategic creative agency in Baltics with a team of 30+ people based in Riga office. They execute projects jointly with 120+ more colleagues from digital, PR, social media, media planning, packaging and identity design partners which allows us to be also the most integrated agency hub in Baltics.

McCann Riga offer Calculated Risk to our clients—exceptional creativity that makes the work noticeable in combination with well-grounded strategy, so that business results are maximised.

For full information about the team, please visit our Team page or view the Whitepaper.

If you have any project or token sale related questions, please contact us on our Telegram channel, at [email protected] or visit

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