White paper: Building the Blockchain Logistics Protocol
2.5 Use of Token Sale Capital: Incentives and Rewards
OpenPort will set up a foundation to issue tokens in the token generation event (TGE). OpenPort Limited will have control over the activities of the foundation, in compliance with the foundation’s mandate to be set out in its Articles of Association. The foundation’s mandate will be to promote the use of the OpenPort blockchain protocol and token, and OpenPort Limited’s support (through the allocation of staff, resources, and licensing of IP) will be critical in achieving this mandate.
The OpenPort Foundation will create 100 million OPN tokens at the TGE and make 25 million available at the time of the pre-sale and main crowd-sale. The remainder (75 million OPN) will be held in reserve by the foundation to provide required liquidity at a future date and an option for sale of additional tokens, later in 2018 or at a subsequent date.
Security in TGE planning and execution being a critical priority, OpenPort will work with an intermediary to ensure that the latest anti-hacking solutions will be implemented in parallel with the blockchain implementation to insulate the company and the foundation from potential hacking threats.
A majority of the working capital generated from the token sale will be used to encourage adoption and participation in the OpenPort marketplace.
OPN are purely utility tokens, carrying no rights other than access to OpenPort’s platform. To position the OPN as the preferred reward system to the transporter community, we will offer immediate payment in OPN (upon fulfilment of smart contract conditions) versus a payment in cash that can be delayed due to payment terms (30, 60, 90 days) specified by a legacy payment process.