Ottó Blockchain
We’re building a bridge for greater institutional participation in digital asset ownership and decentralised finance by resolving the regulatory and security challenges preventing lower-risk-tolerance investors from deploying capital.
How?
Meet Ottó Blockchain, the first KYC-compliant, Curated Smart Finance Blockchain. Ottó leverages NFT identity attestation to signal to developers, custodians, and other market participants that a user has been identified (while allowing the user to maintain privacy) and enables developers to build applications within the Ottó framework that utilise synthetic assets to keep underlying digital assets stored safely and securely with a custodian.
Ottó is a decentralised, socially responsible Proof of Stake Blockchain based on Substrate, facilitating Smart Contracts within a community-controlled ecosystem. Our vision is for Ottó to be the leading blockchain and ecosystem for trusted, verified Smart Finance; Developers and Participants.
Ottó Blockchain will launch as a platform in Q1 of 2022 when the Web3 community will first be able to create an account and a wallet to participate.
A network of trusted organisations will provide the code validation nodes from launch to enable decentralised block and transaction processing in the Otto PoS blockchain from day one.
Ottó Blockchain Pre-mining
To ensure further genuine decentralisation, Ottó will be offering all PLUG token holders the ability to stake their PLUG tokens until the end of a 25 week period to pre-mine a large portion of the total available Ottó tokens.
Ottó token is designed to be released very slowly in limited quantities as the blockchain grows. The Ottó token will be rewarded to those who bring value into Ottó Blockchain as well as those who stake in validation nodes to bring security to the Ottó Blockchain. In times where Ottó is not growing the mechanism of the Ottó token will result in a net reduction of the total available supply ensuring maximum utility and security of the Blockchain economy.
PLUG already has an excellent decentralised distribution throughout a strong and supportive community. Distributing Ottó tokens throughout the PLUG holders will enable faster decentralisation of the governance, and value of the Ottó Blockchain supporting the goals and vision to become the leading blockchain and ecosystem for trusted and verified Smart Finance Applications.
The PL^Gnet Partner Alliance is set up and ready to support the launch of the Ottó Blockchain with its existing capabilities and specialties. We expect to have all the leading forms of Smart Finance Protocols ready and launched to deliver the community an active market from the very early stages of launch.
Ottó Blockchain Pre-mining details
The Ottó Blockchain pre-mining event will begin from the week of the 27th of December (one week after the end of the current PLUG Power Farming contract ending).
It will not include any liquidity pools as this is no longer part of the PL^Gnet programme of work, the community has successfully built enough organic liquidity to support the PLUG token and enable fair value transfers consistently.
The Pre-mining contract will be a single 25 week staking period. You can choose to stake PLUG tokens at any time during that 25 week period and be eligible to claim both PLUG tokens and Ottó tokens at the end of the 25 week period if your balance is still staked at the end of the 25 week period.
If you stake PLUG token, your eligible claim amount at the end of 25 weeks will be directly related to the percentage of the PLUG pool you have staked and the total time between when it was staked and the end of the 25 week period.
There will be a total of 250,000,000 PLUG tokens available to claim at the end of the 25 weeks.
There will be a total of 10,000,000 Ottó tokens available to claim at the end of the 25 weeks.
Anyone who chooses to stake PLUG tokens will be able to un-stake and withdraw their PLUG tokens at any time. If they choose to un-stake they will forfeit any potential PLUG or Ottó claim they have accumulated up until that date. Only those PLUG tokens remaining at the end of the 25 weeks will be eligible for their potential claim.
To our community
We believe this is the most consistent and fair way to encourage strong support of the Ottó Blockchain and ecosystem by the community.
We are excited to offer PLUG holders this opportunity to get involved early on with the Ottó Blockchain through a fair and consistent pre-ming event. Our belief is that Ottó will provide a much needed socially responsible blockchain to Protocol-driven Smart Finance space. Ottó’s unique ability to add KYC to Smart Finance while still maintaining anonymity on the blockchain will attract financial institutions not previously able to interact in the Smart Finance space. This means more liquidity, more innovation and more value for Ottó token holders. We believe Ottó is the responsible future of Smart Finance and we look forward to taking you on this journey with us.
