Danish CCEDK supports OpenLedger's crowdsale 'Initial Coin Offering OpenLedger' (ICOO). The project aims to gather ICOs on the OpenLedger platform in order to benefit both startups and investors.
May 24 2016, Blokhus, Denmark – As a part of the new offering, the Danish cryptocurrency platform, CCEDK, and OpenLedger have announced the crowdsale of its Initial Coin Offering OpenLedger (ICOO) crowdsale, starting May 20, 2016. The crowdsale will go on for a duration of 42 days, allowing people to buy ICOO tokens for its new Economic Enterprise Engine – Crowdfunding 3.0 initiative.
The ICOO crowdsale is a limited time event where individuals can buy ICOO tokens for the new service that will enable companies and startups to create and organize crowdsale of their ICO on the OpenLedger platform. While crowdfunding through ICO has become a well-established model in the cryptocurrency industry, the success rate for all the cryptocurrency platforms is not the same. While some ICOs like that of Ethereum, Augur and DAO are a huge success, there are many startups that are not able to effectively leverage the power of crowdfunding.
The OpenLedger platform will offer a single point for ICOs where investors can buy ICO tokens of their choice without having to scour through the internet, saving them a lot of time while making sure they do not miss out on any of the ICOs. The ICOO token holders, who have either participated in the ICOO or traded their tokens on a later date get special privileges and discounts in addition to any possible future dividends from their ICOO token holdings.
ICOO crowdsale allows people to buy ICOO tokens with Bitcoin or any other currency supported on the CCEDK or OpenLedger platform. However, all the payments towards ICOO tokens, irrespective of the currency will be converted to Bitcoin to prevent loss of value. CCEDK and OpenLedger will use the funds raised through the ICOO crowdsale to buy into new ICOs and enable investors to trade tokens representing upcoming ICOs even before they are launched.
While the maximum number of ICOO tokens available for crowdsale is limited to 20,000,000, the final count of ICOO tokens will depend on the number of token's bought by the investors during the period of the ICO. Only sold tokens will be available for use after the ICO, leftover funds will be burned.
ICOO Token – Distribution
Upon successful launch of ICOO, the profits will be invested into commodity backed digital tokens including DGX, OBITS, and BitTeaser, to generate returns for the ICOO community. A portion of the revenue generated by offering consultation services and ICO packages will be channeled to the supporting assets comprising of OBITS and BitTeaser while another portion will be allocated to ICOO token holders.
In addition, OpenLedger users pledging over 15 BTCs to ICOO crowdsale will be awarded special lifetime privileges on OpenLedger platform, entitling them for discounted advertising, goods, and services. The ICOO fund will be used to offer new ICOs even before the actual launch date through proxy tokens, which act as IOUs. OBITS, with a certain portion of funds allocated to it, will act as a catch-all asset representing all current and future initiatives by the CCEDK network.
ICOO and Profits
The investors in ICOO tokens will benefit as ICOO grows. Asset holders may stake their tokens during the prelaunch and withdraw or deposit them freely on the day of the official launch. The profits made by ICOO following the first wave of token generation will be split the following ways. CCEDK will control 40% of the ICOO profits, which will be used for its operations, administration, advertising and other expenses while the remaining 60% will be distributed in a pre-defined fashion.
Out of the 60% of profits, 20% of designated revenues is used as buyback and consequently burned. The buyback is performed in BTC on the OpenLedger ICOO _OPEN.BTC market.
