Features, Usage Modes and Circuit of OPEN Token, the Utility Token of OpenMall
The OPEN utility token represents a fundamental tool for the project growth, serving as a transactional commodity available to the Community for purchasing goods and accessing specific services.
TokenUsage in the Mall and its Specular Transposition in the Metaverse
Within the OpenMall ecosystem and its extension into the metaverse, the OPEN Token is the utility token required for the blockchain access, NFT purchases, and reward systems. Additionally, it is used to make purchases and payments for goods and services in the 3D version and in the interaction with the physical stores of participating brands through a specific point of sale (POS) system.
The Relationship between OPEN Token
The OPEN Token is a utility token based on the Ethereum ERC-20 smart contract standard.
OpenMall Metaverse (OMM) is a global platform based on the Polygon layer 2 of the Ethereum Blockchain.
OMM utilizes the Polygon blockchain to decentralize all token exchange dynamics among users. For this reason, OMM will allow the entire community to contribute to the project’s development, ensuring the ability to insert their content (e.g., template proposals, skins, etc.) into the NFT Marketplace.
The Project Roadmap
of the OPEN Token
It indicates the process of distributing tokens based on regular and predetermined quantities and intervals of time. The operation's goal is to prevent token price alteration from the early stages of the project. The release of 100% of tokens purchased in these stages occurs after 10 or 20 months.
ILO (Initial Liquidity Offering)
The activity will be conducted on a decentralized platform, subject to KYC verification and contract audits. 90% of the liquidity collected during the ILO will be "locked" within the liquidity pool for 1 year, while the remaining 10% will be transferred to the OpenMall Treasury wallet. This step ensures a good level of liquidity (90% collected in ILO) and thus excellent token tradability, benefiting all users.
The OPEN Token can also be purchased on centralized platforms to increase the potential participant pool in the project.
Planned promotions and marketing activities involve creating a token reserve intended for users as a reward for commercially spreading the project through social channels. We believe that specific marketing campaigns can immediately stimulate the creation of a community, a fundamental element for amplifying corporate messages.
Remaining OPEN Tokens
The remaining tokens will be distributed during the development years of the OpenMall project, using methods designed to optimize project development and encourage token tradability. Detailed specifications on farming or staking mechanisms planned by the platform will follow.