OEL Foundation's Token Generation Events

Open Enterprise Logistic (OEL) Foundation

The lack of direct control over the logistics of supply like shipping destinations, timetables and even a lack of systems to maintain a constant measure of inventory mean that developing countries can end up racking up fines that could have been avoided with a smarter system.

A smarter system is precisely what OEL wants to make readily available to these countries. With their open-source Enterprise Architecture, the system provides developing nations with a step up in improving their transit system.

OEL's system provides users with greater support in shared-use cases allowing members to collaborate and incentivize innovation.

The Open Enterprise Logistics (OEL) Foundation is a non-profit organisation providing governance and resources for the development of the OEL blockchain ecosystem. The OEL ecosystem is comprised of the open-source OEL Enterprise Architecture, OPN Token and members of the OEL Alliance. A global initiative headquartered in Hong Kong, the Foundation promotes innovative blockchain technologies for enterprise logistics applications.

The Foundation is building an open source decentralised smart contract infrastructure for logistics applications. It is optimised to satisfy four key criteria:

• Low cost and consistent transaction speed
• For scalability
• Data confidentiality
• For enterprise grade applications
• Reward data sharing
• For bridging the gap between the physical supply chain and the decentralised ledger
• Open collaborative governance
• For ensuring the standards required for all participants in the supply chain

OEL's Enterprise Architecture is powered by the 'Open' (OPN) Token, which acts as a utility token providing the following roles within the system:

• Fuel smart contract validation - Validation by nodes under a nPoS mechanism
• Micro-rewards - To incentivise and reward active and passive data-sharing by participants in the supply chain
• Point of access - To manage authorization, participants require a given number of tokens to push, be party to or receive information on the network
• Proof of Staken - PoS is required to run nodes and confirm identity

OEL's OPN scheduled for public sale on two phases of Token Generation Events. Both of which are between late 2018 and early 2019.

OPN Token Generation Event

There will be two token generation events for the OPN Token, the first phase of the token generation event (TGE Phase 1) will occur in Q3 2018 and the second phase of the token generation event (TGE Phase 2) will occur in Q2/Q3 2019. OPN Tokens issued during the TGE Phase 1 will conform to the ERC-20 standard.

PHASE 1

Target: Public

Offering: ERC20

Location: In jurisdiction vetted by legal

Price: 0.5 USD/OPN

Raise Amount: Approx. 5,000,000 USD

Per Person Limit: 200–25,000 USD*

PHASE 2

Target: Public

Offering: New Protocol Token when Main Net is ready (H2 2019)

Location: In jurisdiction vetted by legal

Price: As determined by auction/market price at the same time

Raise Amount: As determined by auction/market price at the same time

Per Person Limit: 200–25,000 USD*

The TGE Phase 1 shall be comprised of a private purchaser pre-sale and a public purchaser main sale. Upon implementation of the OEL Foundation main net, TGE Phase 2 will take place as a public sale in 2019. This sale will comprise an issuance of new tokens at the then prevailing market price and, if relevant, an issuance of replacement OPN Tokens for holders of ERC20-compliant OPN Tokens.

Participants in OPN Token sales will undergo screening processes to comply with KYC/AML (Know Your Customer/Anti-Money-Laundering) regulations of vetted jurisdictions.

TOKEN SUPPLY

OPN Token supply is fixed at 100,000,000 tokens with initial distribution in TGE Phase 1 and Phase 2 in Q3 2018 and Q2/Q3 2019, respectively. The intended token distribution is shown below:

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