Tokens! Get Your Tokens! Everything You Need For The ECOMI TGE
April 28th, 2018. Rhys Skellern. ECOMI. 6 Min Read.
So, what is an TGE anyway?
A token sale, or token generation event (TGE) serves to raise capital by generating and selling a finite number of tokens. The money raised from the sale of these tokens is then used to fund the companies projects, giving you the chance to invest in the earliest possible stages (while it is still affordable to do so), often removing the need for traditional venture capital, and allows you to support those projects/applications which you have a personal interest in. Tokens in a TGE tend to fall into one of two categories:
Securities: These are designed to be similar to shares, and as such, the management and sale of security tokens are governed by security and regulation laws.
Utility tokens: these have a specific use case, and typically are used for access to a companies product or services i.e. they have a practical use.
It is important to note here that OMI tokens (ECOMI’s native token) are wholly and expressly a utility token. Whilst they will hold their own value and can be traded across exchanges, they are designed to be used in conjunction with ECOMI products and services, and can be held (staked) to grant access to ECOMI Dapps or in lieu of paid subscription services.
I’m glad you asked! Before investing it’s important to know where your money is going, and why. In a nutshell, ECOMI is a security, economy, and digital ecosystem, which utilises blockchain technology to combine four key areas:
Protection of private keys.
Real-world cryptocurrency payments
The exciting new world of digital collectibles
Secure storage and sharing of information and data
By using smart contracts to execute arbitrary functions, the ECOMI platform allows for immutable protection of assets, and the decentralisation of data storage.
Moreover, ECOMI have developed a familiar and user-friendly platform for you- the user- to interact with- the ECOMI App. In doing so, the team have not only simplified the way we interact with the blockchain, but have also seamlessly bridged the gap between the tech-savvy crypto world and the mainstream population.
ECOMI currently has 4 products/market solutions in development, which are all powered by and through the ECOMI app:
The Secure Wallet (completed) - a Physical hardware wallet to store Cryptocurrencies and private keys. This is due to launch in June 2018.
ECOMI One - The only card you’ll ever need to carry. The ECOMI One builds on the impressive Secure Wallet technology and can store 20+ cryptocurrencies, FIAT, and any NFT enabled credit, debit, loyalty and membership cards. By using an inbuilt exchange capability, ECOMI One allows you to pay for everyday items in the currency of your choice, as well as take advantage of market fluctuations to maximise exchange rates, whilst keeping your assets as safe as physically possible.
ECOMI Collect - ECOMI Collect capitalises on the digital collectible market by issuing non-fungible tokens for licensed and recognisable collectibles. Currently ECOMI have secured the license to market and sell Tokidoki products/characters, with other licenses to be announced soon. The ECOMI Collect app will also act as a marketplace to buy, trade and sell digital collectibles, as well as provide the ability to interact with collectibles with an AR function.
ECOMI Vault - this SAAS solution combines cloud sharing/storage and distributed ledger technology to securely store, share, and access data, and protects your intellectual property.
All You Need to Know About the ECOMI TGE
The following details all information regarding the ECOMI token sale, including token information, dates, discounts and bonuses, and limits on participation.
The native token of the ECOMI Ecosystem is the ‘OMI’ token.
Ticker symbol: OMI
The ECOMI Ecosystem is being built on the Ethereum network, and as such the OMI token is an ERC20 token.
I feel it is important to reiterate here that OMI is wholly and expressly a utility token. It is designed to be used in conjunction with ECOMI products and services, and the owner can stake (hold) the token to access ECOMI Dapps, or in lieu of paid subscription services.
Upon completion of the crowdsale, there will be 1 billion OMI tokens in circulation. With a total of 500, 000, 000 OMI Tokens available for sale during the TGE:
62, 500, 000 OMI are available in private sale (completed).
75, 000, 000 OMI are available during the pre-sale
362, 500, 000 OMI available for sale during the crowdsale.
Token Structure - Overview
It is also important to note that if the fundraise hardcap is reached ($22.1m) during the crowdsale prior to the minting of the billionth token, any remaining tokens will be redistributed to participants proportionately to the amount invested.
TGE General Information
Enquiries and registration for the ECOMI TGE is now open at ecomi.com
There is a know-your-customer process (KYC) which must be completed by all potential investors, and a whitelist for approved investors.
The presale is registered through the parent company (ORBIS) in New Zealand. The crowdsale is registered in Singapore and run through ECOMI.
ECOMI has nominated a soft cap fundraise of $5.75 million, with a hard cap fundraise goal of $22,125, 000 USD.
The presale opened on April 15th, and will conclude June 29th.
The crowdsale will begin June 30th, and is due to conclude either on September 30th, once the hard cap has been reached, or the 1 billionth OMI token has been generated, which ever comes first.
The presale is registered through the parent company (ORBIS Blockchain Technologies Ltd) in New Zealand. The crowdsale is registered in Singapore and run through ECOMI Technology Pte Ltd.
Tokens will be issued 7 days after the completion of the crowdsale, unless governed by vesting periods.
Price, Purchasing and Bonuses
As an ERC20 token, ECOMI will only be accepting ETH (the native token of the Ethereum platform). Throughout the course of the TGE, the price of OMI will be pegged at 5 cents USD per token. Based on this, ECOMI also offers lucrative incentives for early stage investors.
You will receive a free ECOMI Secure Wallet if you:
All nationalities, except: USA, Socialist Republic of Vietnam, People’s Republic of China, Singapore, or resident of a country where American embargoes and sanctions are in force, namely Iran, North Korea, Syria, Sudan, or Cuba.
How Will the Funds Raised Be Allocated?
65% Product, Platform & Business development, including blockchain, web, software & licenses.