Tokenized precious metals onto the Ethereum blockchain
- Aims to provide an alternative method of recording precious metals ownership that is simple, liquid, secure and transparent - ERC20 tokens represents the ownership of 30 grams of LBMA-quality gold, holders will be able to convert them into physical gold through a transparent redemption procedure - Gold will be stored and insured at the following vaults: OZL AG, Liechtenstein; Swiss Gold Safe AG, Zurich and Hong Kong; Byzantium International Ltd. Cayman Islands - The bullion held at the Swiss and Liechtenstein vaults will be inspected monthly by Société Générale de Surveillance SA
|ICO start date||12 Jun 2017|
|ICO end date||12 Jul 2017|
|Additional Token Emission||No|
The total authorized capital is divided into 1 112 000 shares, of which 845 118 are Class A and 266 882 are Class B. For sale available only 500 000 Class A shares representing 45% of the total company’s equity. Each share will be tokenized into one Orocrypt Inc. Share Token (OROC) which equates ownership rights in proportion to the number of shares purchased and backed by physical gold bullion. These tokens will be issued in the last quarter of 2017. In the event the capital raised is less than 133 500 tokens or their equivalent 1 200 000 euros, after 31 days the ICO will close and the investor funds will be returned
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