Website

OPEN (OPEN)

ICO

Published: Mar 05, 2018

OPEN is an ecosystem to solve blockchain monetization and distribution for mainstream app developers.

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Overview

Project industry	Blockchain Infrastructure
Product type	Platform
Whitepaper	Open

Technical details

The technical architecture of Open Money's implementation is split into two main elements: the Open Platform REST API itself as well as an SDK with support for JS, iOS, Android and React-Native. The Open Money SDK enables functionality of the platform on behalf of the software developer. SDK functionality includes tasks required to access platform features such as handling all communication and payment processes between the developer’s backend and the Open Money backend, managing developer accounts, and security related processes.

What is OPEN

The Open platform and API together provide a turn key solution for developers looking to leverage the power of blockchain technology into their current technology stack.

Open included Scaffolds as template smart contracts that can be created to the specifications required by a developer, instantiated through an API call.

An OprenWallet is the storage unit for the users cryptocurrencies (e.g. ETH, BTC, etc.) as well as the Open_States the user has purchased through the Open API.

OPEN is an ERC20 token that will be distributed in the Open ICO and allows for developers to create Scaffolds in the Open ecosystem.

Open uses the OmiseGo wallet SDK to connect to the OmiseGo decentralized cryptocurrency exchange (DEX).

The Open platform is built with interoperability and modularity so that current components can easily be swapped as better iterations of the technology surface in the future.

Open intends to use pre-existing libraries like web3 and ETHJS to interact with the Scaffold Creator, the Scaffold, and the Open _State Tokens.

Details

Public sales: Feb 22, 2018 - Mar 15, 2018
Token supply: 500000000
Raised: 18,000,000 USD

Legal

Blockchain Platform: Ethereum

Token info

Ticker: OPEN
Type: Utility-token
Token standard: ERC-20
Token price in USD: 1 Token = 0.080000 USD
Accepted currencies: ETH
Token distribution:
The total supply of OPEN will be 1,000,000,000 tokens, of which 500,000,000 tokens will be in circulation and sold at the token sale event. An amount equal to 50% of the total supply will be for sale within the Open Money token sale. Of that, 3% will be distributed to the Bounty Program participants. A total of 20% will be set aside to incentivize the operational team, future hires, investors, professional advisors and support partners. The remaining 30% will be retained by Open. The operations team of Open will be subject to vesting provisions. Funds allocation: 50% of will be spent on Engineering and Development, 25% on Marketing and Promotion, 15% on Professional Services and Maintenance, 5% on Partnerships and 5% on General Operational and Misc.