On July 2018, time when we planned to create IOV and its technology, we originally set a Hard Cap for fundraising of EUR 25 millions (417 millions Tokens equivalent). We have decided to do so at a period of time when we did not know precisely how much time or effort it would take to release our technology.

Along the way and while major changes in the dynamics of the crypto markets were taking place, we sharpened our objectives and took some important decisions:

1 — To fund our project through a Token sale including private rounds only (No Public Sale)

2 — To open our Token sale to primarily savvy entrepreneurs and crypto experts in order to build our own ecosystem of supporters

3 — To utilise our funding with an aim to release 90% of our technology at the launch of the Blockchain

On the 10th of October 2019, during the Osaka Devcon V Conference, we successfully released these major and breakthrough technologies:

• The IOV Name Service Mainnet, a blockchain dedicated to translate human-readable addresses into a list of crypto-addresses; http://www.starexplorer.io/
• An SDK called Weave, an open-source and free for all to build Blockchain Applications on top of Tendermint
• IOV Core, a multichain library to easily access the IOV Name Service and build multichain applications.
• Neuma, a multichain chrome extension for private key and signature management.
• A Web Wallet and a Hardware Ledger Application for the IOV Name Service

We designed a framework to link the Token Economics and adoption of names in the Blockchain.

Now that we have developed our product to a great extent, Chapter II of our story is now starting!

It consists of :

• First, finalising the last key technology features in relation to the fully decentralisation of the chain and the finalisation of *Starname
• Second, executing the Adoption Strategy of *Starname

In order to accelerate the adoption of our *Starname, we have dedicated a pocket of unallocated tokens (Maximum EUR 5 millions), representing a number of pre-launch soft commitments from different funds and enthusiast entrepreneurs. You still can support the project by declaring your interest via https://register.iov.one/form/80662587859374?ref=KAR

This makes the total and maximum number of IOV Tokens created 187 millions, which represent less than half of the initial announced Hard Cap.

This pocket of funding, designed to fund the adoption strategy for *Starname, will be used until the IOV Token becomes listed on Exchanges. Between now and then, 25% of the tokens unsold will be burned on a monthly basis. At the time of listing, all unsold tokens will have been burned and the Token sale will end.

The total number of IOV tokens in circulation after the prescribed incinerations will be communicated at the time of Listing.

*Starname is at the heart of our ecosystem and the building block of our token economy. You can already pre-register your *Starname on https://www.starname.network/

Thanks for your support !

The IOV Team