Orocrypt Offers Digitized Precious Metals on Ethereum Blockchain, ICO Underway
Ethereum-based OROC token, representing shares in Orocrypt, which will
provide tokenized precious metals on the Ethereum blockchain.
May 30, 2017, Panama – Orocrypt, a Panama-based blockchain
platform has announced the launch of its ICO starting June 14, 2017, at 6:00 AM
(PDT). The month-long ICO will offer investors and cryptocurrency community
members an opportunity to purchase Orocrypt tokens (OROC). OROC tokens
represent shares themselves. OROC are built on the Ethereum protocol, and are
compatible with all Ethereum wallets.
After the ICO, Orocrypt will
launch gold-backed tokens (ORO.G), each representing 30g of LBMA compliant
bullion gold. Once gold bullion-backed tokens are launched, Orocrypt will
charge a 1% commission fee over gold spot price on the sale of one token or
more. There is also a 0.4% transfer fee when the tokens are transferred between wallets. The commissions for
purchases involving less than one ORO.G token ranges between 5% ( for 0.9 to
0.5 tokens) and 10% (for purchase between 0.1 and 0.5 tokens).
The OROC cryptotokens can be
easily traded with Orocrypt, on other exchanges or P2P.
Orocrypt has made sure that all
aspects of the token issuance, including holding client funds, issuing digital
tokens, procuring and storing gold are open and auditable. To reduce the risks
of adverse legislation in any one jurisdiction,
Orocrypt will have the bullion stored in secured vaults around the globe. Swiss
Gold Safe AG vaults are located in Zurich
and Hong Kong. Byzantium’s vault is located in the Cayman Islands, while OZL AG
vault is in Liechtenstein.
board is comprised of experienced former bankers, stockbrokers, accountants and
senior business professionals. The Swiss and Liechtenstein vaults will be
audited by Societe de Surveillance SA.
The bullion gold will be sourced by Rheingold-Edelmetall Liechtenstein
and Byzantium Cayman Islands.
Orocrypt complies with all
Panamanian regulations, including the ones concerning precious metals merchants
and those established by the Sujetos Obligados No Financieros, of the Ministry
of Economy and Finance. The
Superintendencia del Mercado de Valores has been
informed of the company’s token sale.
The OROC token ICO begins on June
14, 2017, 6:00 AM (PDT) and finishes on July 14, 2017, 6:00 PM (PDT). All OROC
tokens represent shares in the company and entitle holders to dividends, the
right to vote, and rights to payout in case of acquisition or sale.
Orocrypt will sell Class A shares which make 45% of the
total issued shares. Class B shares, 24% of the issued shares, are owned by the founders. 31% of the shares are allocated
to treasury, rewards, payments for services, and employees participation. Both
classes of shares have identical economic benefits and the only difference is
that the holders of Class A shares are entitled to one vote per share while the
holders of Class B shares are entitled to ten votes per share.
The individual ICO token price will be 9 EUR and will not be divisible.
Early bird investors during the first week of the ICO stand to receive a 5%
discount on the shares. During the second week, the platform will continue to
offer 2% discount. Orocrypt expects to raise EUR 4.5 million through the ICO
token sale. This will cover startup
costs and operating capital for two years. Funds in excess of short term
cash-flow requirements will be invested in gold, silver, bitcoin and ether.
Orocrypt is a Panama-based company that
will issue tokenized precious metals vault
receipts. The Orocrypt tokens offered during the ICO (OROC) represent shares in
the Orocrypt corporation.
Official Company Website – https://orocrypt.com/#
Orocrypt Bitcointalk account – https://bitcointalk.org/index.php?topic=1925056
Follow Orocrypt Inc on Facebook – https://www.facebook.com/orocrypt
Follow Orocrypt Inc on Twitter – https://twitter.com/orocrypt
Orocrypt Inc Whitepaper Here – https://orocrypt.com/#documents
Contact Name: Alejandra de Gaustad
Contact Email: [email protected]
Orocrypt is the source of this content. Virtual currency is not legal
tender, is not backed by the government, and accounts and value balances are
not subject to consumer protections. This press release is for informational
purposes only. The information does not constitute investment advice or an
offer to invest.