nOS Company Token Lock-up & ChicoCrypto nOS Overview Video
We’re locking up 90% of our tokens. And ChicoCrypto made a cool video about us.
nOS is the virtual operating system of the Smart Economy.
First, we want to thank Chico Crypto for making this fantastic video breakdown on nOS and the whitepaper. Get to know nOS in only 10 minutes:
Foundation
At nOS, we’re confident in our ability to build the virtual operating system to catalyze widespread adoption of blockchain technology.
With NEO Global Capital as our angel investor, we have been putting in work to build the foundation of our ecosystem before anything else.
Everything we do is part of our vision for the future:
The Smart Economy
Doing things differently
When we announced nOS back in April 2018, we decided to take a different approach than most blockchain-related projects: We released a working MVP several months before our whitepaper.
Only when we laid down this fundamental part of nOS, the nOS Client, were we ready to hold our Token Generation Event.
Why?
Because we mean business.
We didn’t want to be another “whitepaper project” that asks people to trust them to bring a vision to reality. We wanted to build a real platform that you could already use and review the moment that you learned about it.
This approach was has been very effective, as we reached roughly 200,000 followers and growing, and a lively developer community with 70 dApps running on our testnet (see our Top 15 here).
The timeline from the day we announced to today has been a live demonstration of what’s possible when a truly dedicated team and community gets the opportunity to work on a new ecosystem, and proves that it’s possible (and efficient) to start building a blockchain-related project before releasing a whitepaper or holding an ICO.
We’re locking up 90% of our own tokens
People have been exceptionally positive about the fact that no bonuses are given to participants of the private sale or the presale.
The only party who received any bonus, as described in the whitepaper, is our angel investor NEO Global Capital, who funded us for $1,800,000 USD back in May 2018 and received a 20% discount on their purchase, and a 20% bonus that’s vested for 2 years.
The fairness in our token economics is something people are excited about.
We can do even better.
nOS Limited, our company, was planned to receive the following token allocations immediately on TGE:
- Company Reserve: 33,750,000 nOS ($3,375,000 USD)
- Ecosystem Adoption Fund: 67,500,000 nOS ($6,750,000 USD)
That’s a little over 100,000,000 nOS ($10,000,000 USD).
With these tokens included, the initial number of tokens in circulation would be 281,250,000 nOS ($28,125,000 USD).
But we’re confident in the long term value of our project. So we decided to change it up.
We’re locking up ~90% of our tokens.
Everything from the Company Reserve and Ecosystem Adoption Fund, with the exception of 10,000,000 nOS ($1,000,000 USD), will be locked and distributed over 1 year.
Here’s our distribution schedule:
With this, the circulating token supply is reduced to 190,000,000 nOS ($19,000,000 USD).
~83% (157,500,000 nOS) of the initial circulating supply can now be in the hands of our community.
We believe that this new company vesting model reflects our full dedication to building nOS: The Virtual Operating System of the Smart Economy, and our goal to build one of the strongest communities in technology.
Overview
Here are the updated token economics. The differences are in the Initial Circulating Supply, and the distribution periods of the Vested Company Fund and the Ecosystem Adoption Reserve.
Conclusion
The goal and vision of nOS is to bring Smart Economy and Decentralized Applications to the masses, by offering accessibility, ease of development, user experience, and quality decentralized applications for consumers and enterprise alike.
We believe that such things should be reflected when it comes to token economics, which is why we made the decision to lock up 90% of our company tokens for gradual release over 1 year, rather than award them instantly.
We want to put our community first when it comes to our ecosystem.
Thank you for your positive engagement. If you have any questions or would like to join our the conversation, join us on Discord and Telegram!
