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OpenFinance (OFN)

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The OpenFinance Network is the trading platform for alternative assets.

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Overview

Project industryBlockchain Infrastructure
Product typePlatform

What is OpenFinance

The emergence of Bitcoin and its associated ecosystem of blockchains and alt-coins have been widely recognized as a generational disruptive force in the financial services industry. Equally disruptive is the underlying technology behind Bitcoin, commonly referred to as blockchain or distributed ledger technology, which has greater potential applications beyond just electronic currency. In particular, within financial markets, there is a wide range of benefits of blockchain technology in the securities trading, clearing & settlement process.

Modern financial markets are saddled with an antiquated clearing & settlement process that is often slow and cumbersome, and include multiple intermediaries and redundant data sets that need to be manually reconciled on a repeated basis to complete a single transaction. The core strengths of blockchain (shared ledger, immutability and security) bring the promise of reduced transaction costs and streamlined processes to the industry, which benefits both financial institutions and individual investors alike.

In the direct participation program (DPP) market, comprised of assets such as non-listed REITs, business development companies (BDCs), Regulation A+, Regulation CF and other crowdfunded assets, the inefficiencies and problems of an antiquated clearing and settlement process are even more pronounced. The lack of a standardized process and interoperability lead to a lengthy settlement process that averages 6-8 weeks to complete, an absurd amount of time by any measure. As more and more investors enter the DPP market (led by a revitalized interest in the alternatives sector) a more robust model must be put in place in order to meet the needs of its core customer base.

OpenFinance Network, the leading trading platform in the $7.7T alternative asset market, has developed a framework to transform the trading, clearing & settlement process in the industry, leveraging distributed ledger technology to bring efficiency, transparency, and interoperability to a fragmented market. The framework contains a uniform protocol to provide standardization of assets and data within the industry. Moreover, this interoperability also applies between “traditional” alternative assets and the emerging “crypto” alternative asset class, creating a mechanism of tokenized trading to bridge the gap between off-chain and on-chain capital markets.

Details

Token supply: 50,000,000
Hard cap: 50,000,000 USD

Legal

Blockchain Platform: Ethereum

Token info

Ticker: OFN
Type: Security
Accepted currencies: ETH
Bonus program:
Presale Amount:
$625,000+: 5% discount
$1,250,000+: 7.5% discount
$2,500,000+: 10% discount
$5,000,000+: 15% discount
Token distribution:
40% - Tokens sold in public sale
35% - Partnerships and strategic incentives
25% - OFN development team and advisors
Funds allocation:
55% - Network Development
15% - Sales and Marketing
10% - Customer Support
10% - Legal, Regulatory and Compliance
5% - General and Administrative
5% - Bounty Pool

OpenFinance Roadmap

1
Q2, 2017

Began Development.

2
Q4, 2017

Community Outreach: Launched openfinance.io., created whitepaper, began industry outreach.

3
Q1, 2018

Beta Launch: Trading of Reg D Securities, Investor Passport, Digital Signature Guarantee.

4
Q2, 2018

Full Release, Complete Launch of OFN.

5
Q3, 2018

Ferst New features. Decentralized Exchange CRM tools.

6
Q4, 2018

Full process platform: Issuer template for securities, Advanced Investor tools.

7
Q1, 2019

Tokenization of REITS and existing securities. Decentralized Counter-party insurance. Full proving system.

Project team

Juan M. Hernandez
Juan M. Hernandez
CEO
Juan M. Hernandez linkedin
Kael Shipman
Kael Shipman
HEAD OF TECHNOLOGY
Kael Shipman linkedin
Thomas Mcinerney
Thomas Mcinerney
HEAD OF BLOCKCHAIN DEVELOPMENT
Thomas Mcinerney linkedin
Ian Shipman Ph. D.
Ian Shipman Ph. D.
HEAD OF R & D
Ian Shipman Ph. D. linkedin
Tobin Mccomas
Tobin Mccomas
HEAD OF SALES
Tobin Mccomas linkedin
Jordan Fishfeld
Jordan Fishfeld
GENERAL COUNSEL
Jordan Fishfeld linkedin
Lindsay Edelson
Lindsay Edelson
Head of Marketing
Lindsay Edelson linkedin
Raymond Coti
Raymond Coti
FRONT-END DEVELOPER
Raymond Coti linkedin
Liz Newman
Liz Newman
Lead UX/ UI Designer
Liz Newman linkedin
Tomasz Zacharczuk
Tomasz Zacharczuk
Blockchain Advisor
Tomasz Zacharczuk linkedin
Kunal Patel
Kunal Patel
SOFTWARE ENGINEER
Kunal Patel linkedin
Jacob Regan
Jacob Regan
SOFTWARE ENGINEER
Jacob Regan linkedin
Taylar Ramsey
Taylar Ramsey
Communications Manager
Taylar Ramsey linkedin
Andrew Steinwold
Andrew Steinwold
Community Advisor
Andrew Steinwold linkedin

Advisors

William Mougayar
William Mougayar
Advisor
William Mougayar linkedin
Tor Bair
Tor Bair
Advisor
Tor Bair linkedin
Jeff Carter
Jeff Carter
Advisor
Jeff Carter linkedin
John Kelly
John Kelly
Advisor
John Kelly linkedin

Social media

OpenFinance web-siteOpenFinance RedditOpenFinance MediumOpenFinance TwitterOpenFinance Github

User rating:

5/5 ( 1 )
0

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