On April 1, OKex announced that the first phase of the upcoming project will be Blockcloud and announced the sales rules for OK Jumpstart. OKex CEO Jay then released an open letter saying that "the decision to launch Jumpstart is really difficult" and stated that "doing the best."
From Jay's open letter, you can see three layers of meaning. First, do OK Jumpstart because "the market is forcing us to make decisions." It means that various exchanges have started the IEO model and promoted the rise of platform coins. OKex is not far behind; The second is to ensure quality by “establishing a strict project review system” and explore Amazon, Google, Ali, and Tencent in the blockchain industry, but the specific audit criteria are not disclosed; the third is to adopt the Utility Token Sale model, on the one hand, you can relax KYC. The requirements are aimed at a wider range of users, and the platform of the currency security is differentiated. On the other hand, the risk of Security Token can be appropriately circumvented, but in fact, there is still a vague way of determining the nature of Token.
OK Jumpstart: Adopting the winning mode, pulling the platform currency is the main purpose
OKex began thinking and practicing the IEO model as early as July last year, and thought it was a good financing path. Half a month ago (March 12), Jay stated that OK Jumpstart is ready to go from technology to product.
What is the purpose and role of OKex in launching IEO? What is the difference between the IEO platforms of other exchanges?
From the perspective of the object, Jay said that his legal team decided to choose the Utility Token Sale model after studying the policy guidance documents of the United States, Switzerland, Singapore and other countries. It is also because of the Utility Token that there is no mention of KYC in the OK Jumpstart sales rules, nor does it mention any country restrictions.
From the perspective of the model, Jumpstart sells by way of reservation and sign-up. The sales process includes appointments, winning statistics, and individual announcements of results.
From the point of view, the consideration of OKex's online IEO platform mainly includes the promotion of platform currency, expansion of trading volume and daily activities, and attracting new users to enter the market. This has been clearly stated in its official weekly report:
“For the exchange, IEO also has benefits, such as expanding the volume of transactions and daily activities. The fans of the project will be new users, their funds will flood in with the project, and some of them may eventually become the old users of the exchange. It also helps to get more people into the currency circle."
In particular, pulling up the platform currency, OKex did not hide his attempt on this matter, because the key to winning is to hold OKB continuously! Not only the user must hold at least 500 OKBs per day for the first 7 days of the appointment, but a higher OKB can be used to obtain a higher winning rate.
Therefore, after the announcement of the news, the OKB price rose, breaking through 2 dollars, and the increase in 24 hours exceeded 12%. And if OKex first announced the upcoming Jumpstart on March 12, OKB has risen more than 150%.
Cumulus Wood: Nobel Prize winner as a consultant, talked with Xu Mingxing before going online.
What is the background of cumulus wood that became the starting project of OK Jumpstart? Why do you want to do IEO?
According to public information, the building block cloud is an Internet underlying protocol based on blockchain technology that can run on any system including IP. As its name suggests, Jumbo Cloud builds the underlying network protocol system in the form of “building blocks” to provide continuous connectivity support for dynamic networks in service publishing, namespaces, and communication, and to provide better dynamics for the application layer. , credibility, incentives, security, fairness, and scalability support.
Ming Muyun, founder of Jumbo Cloud, is a visiting scholar at Princeton University, a postdoctoral fellow at the Hong Kong Polytechnic University, and a Ph.D. in computer science at Tsinghua University. The team members come from Princeton, Tsinghua University, Peking University and other colleges and universities, and more than half have Ph.D. Oliver Hart, Nobel laureate in economics, served as an economic consultant, and Hoan Soo Lee, an economist at the White House Council of Economic Advisers, served as a project consultant.
In July 2018, the project received more than 120 institutional investments in 28 countries and regions around the world, some of which were traditional equity financing. The time for the online OK Jumpstart will be after the Ching Ming Festival, and the specific amount and the snapping rules will need to be further announced.
When talking about the reasons for choosing OKex, Mingzhong Bank said in an interview with the media that the two sides have similar cognitive dimensions because of long-term contact and communication with the technical team of OKex Engineering Institute. In particular, they talked with Xu Xingchang, who are also programmers, who have similar views on the underlying technology of the Internet and the direction of future products.
The BLOC token is the original token of the cumulus network, which can be used to motivate the Internet of Things service market. According to the OK Jumpstart rules, the BLOC should belong to the Utility Token, not the Security Token, but how to determine whether it has passed the Howe test, not yet Know. The BLOC distribution method is 10% for the team, 10% for the early contributors, 20% for the tokens, 30% for the foundation, and 30% for the mining award. The project is not currently online.
It is reported that the progress of the cumulus project is that the test network has been running internally, the wallet has been developed on the web, and the first version of the blockchain browser has been developed. The underlying protocol of the entire network is progressing smoothly, and some applications are in some large enterprises. And the partners have already landed.
Babbitt also invited the cumulus team to be an AMA on April 8th, and answer all kinds of questions on the eve of the sale, so stay tuned.