An ERC-20 token known as the “OBD” is the network medium of exchange.
Pre-Launch: 50 million OBD will be distributed pre-launch as follows:
- 16% Founding Team
- 16% Initial DAO Members (7)
- 16% Phase 2 DAO Members (~15)
- 16% Phase 3 DAO Members (~75)
- 33% reserve for industry/institutional investors
These tokens will be locked (staked) for a period of _3 years__ (per DAO vote)
Funds received from the sale of intial DAO memberships will be used to finance development of the system.
- The plan is for 100 DAO Members to stake $5000 each in three phases:
- Phase 1: Initial 7 DAO members: $35,000 total for pilot development
- Phase 2: 13-18 “pre-launch”: $65K-$90K for minimum viable production development
- Phase 3: 75 “MV-launch”: $375,000 for improving and scaling the min-viable production system.
- Additional phases can be added per DAO proposal and vote.
The initial funds will be administered by the foundation, with the bulk going to the contract firm overseeing development.
At the min-viable production launch an additional 50 million tokens will be created
- These will be sold via the DAO members from a community pool, centrally managed by the OBADA Foundation.
- Once the 50 million are sold, no additional tokens will be created.
- The funds received from OBD token sales will be distributed as follows:
- A 5% surcharge on sales (off the top) to pay credit card fees and to fund the OBADA Foundation
- A 10% commission to the seller (DAO member selling the tokens).
- 90% to a DAO treasury reserve for token buyback (liquidity reserve) and other purposes.
- At this time there are no plans to offer OBD to the general public or on any public token exchange.
- At this time, OBADA is a permissioned industry-led project targeted at the asset disposition sector.
- At this time, only accredited or corporate investors may purchase OBD or DAO stakes.