OPEN Platform (OPEN) Blockchain Payments Infrastructure for Applications

OPEN Platform (OPEN) Blockchain Payments Infrastructure for Applications

video note
Open Platform is a payment infrastructure required for applications to communicate on-chain payments with their application backend.

It will enable any application to integrate blockchain technology, deploy any payment scheme, accept any cryptocurrency and track payment states on the blockchain.

All of this should make it easier easier for mainstream developers to adopt cryptocurrency technology into their applications

Usage:

The token has several usages:

It activates Scafforlds to allow application developers to accept payments. For Scaffold to be used, the developer must stake a certain amount of OPEN tokens with it.

There’s also a Developer Growth Pool which is used to incentivize developers to implement OPEN Platform and join the community. 3% of every transaction is used as a type of network gas fee. This fee is is sent automatically to the Developer Growth Pool and used to increase usage.

There are some projects that aim for wider cryptocurrency-as-a-payment adoption and include: Metal, Monetha, OmiseGo but the biggest competition will be Bitpay but Open has way more use cases and applications while also trying to be easier to use.

Roadmap:
June/18 – developer beta program, open SDK 1.0
July/18 – OPEN 1.0 Goes Live on the Ethereum platform, OPEN SDK 2.0, OPEN API, OPEN Wallet
December/18 – major release: OPEN 2.0

Team

Based in San Francisco USA. Founded in 2017.
10 team members listed on the website – more on LinkedIn.
Management and team members appear to be solid with plenty of knowledge in different sectors.
All of the past projects that team members worked on are listed.
The 4 advisors are very experienced and include former Match.com president, founding partner of NEO capital and PayPal partner.

Token economics:

Private pre-sale ongoing
Main sale date not annouced yet and will probably not happen
Accepted: ETH
Registration for the sale still ongoing

Token distribution:
1B OPEN tokens total
50% for sale (3% Bounty / 47% Sale Distribution)
20% Developer Growth Pool
20% Team, Partners and Advisors (vested)
5% Platform Partners
5% Community and Developer Airdrop Pool

1 OPEN = Price $0.08
Private token sale ongoing and bonuses aren’t available
Main sale might not take place because the team annouced they are oversubscribed already
Unclear whether the unsold tokens are destroyed

MAXIMUM CROWDSALE CAP: $18M
PREDICTED MARKET CAP: $29M
MARKET CAP WITH UNUSED TOKENS: around $36M

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