The first Dynamic Coin Offering is here.
Orion will be the first token sale to implement a DYCO, a token sale framework in which utility tokens are USD-backed for up to 16 months after the Token Generation Event. The circulating supply cannot increase during this time.
A DYCO offers its participants the ability to refund any token if they aren't satisfied by the project performance. In this new token sale model, the project team will be held accountable. If project milestones are not met, or if for whatever other reason token participants are not satisfied with project deliverables, they will be able to penalize the team by claiming a refund.
HOW A DYCO WORKS
A DYCO’s downward movement is limited through guaranteed refunds financed by 80% of the raised funds. This creates pressure for the project team to reach promised milestones on the one hand, and incentive to over-deliver on the other. Also, the possibility of mandatory refunds serve as a guarantee for the DYCO token buyers.
The buybacks are processed in 3 rounds, over 16 months.
- 25% tokens refunded after 9 months
- 37.5% tokens refunded after 12 months
- 37.5% tokens refunded after 16 months
Through the 3 refund rounds, 100% of tokens are refunded back for 80% of the sale price. This means refunds can potentially push the supply back to 0.
DYNAMIC HARD CAPOur public and private sale hard cap is dynamic (from $690,000 to $3,450,000) as token holders can claim refunds.
- For the first time ever, token buyers will have the power to determine a project’s true hard cap by utilizing their refund rights, which can be executed even if a token is trading.
- If token buyers are satisfied with our performance, they can choose to forgo refunds, allowing us to access funds that had been reserved for refunds, and instead use them for scaling.
We’ve worked hard to ensure deep utility of the ORN token across our entire ecosystem.