Open Trading Network Foundation, a non-profit organization based out of Zug, Switzerland, is all set to revolutionize the rapidly expanding global crypto economy by developing a secure system combining numerous isolated blockchain networks into a unified open network. World’s first 100% collateralized decentralized exchange, OTN will allow instant transactions between a wide myriad of blockchain networks. Open Trading Network Foundation claims that this innovation will make lives easier for businesses, individuals, traders, and regulators, while addressing the need for speed and liquidity.
The global market for cryptocurrency has developed at a breakneck speed in the recent years with an exponential growth in the number of cryptocurrencies. The objective of OTN is to make the benefits of this growing crypto economy available to common users and all market participants. They want to accomplish this by creating a set of mass market applications for efficient management of crypto assets, performing cross-market transactions, secure storage of savings, accessing the global marketplace, working with tokenized loyalty systems, and making purchases from a crypto wallet.
The maiden product from the network, OTN.Wallet is in the final stages of development and expected to be launched very soon. This multi-currency wallet will serve as a universal tool to store and exchange all types of cryptocurrencies or digital assets. Users will also enjoy several other important features such as fast and safe transactions, a balanced portfolio, direct exchange, P2P transfers, analytical tools, profitability reports, asset tokenization and detokenization, and much more.
Following the launch of OTN.Wallet, the network’s next two products OTN.Business and OTN.Exchange are expected to arrive shortly. OTN Business is a business application supporting several widely-used operations, including issuing tokens and listing them on exchanges, issuing tokenized loyalty cards, crowdfunding, tokenization of services, integrating payment schemes that use a large number of tokens and cryptocurrencies, integrating custom centralized matching engines, etc. Whereas, the OTN Exchange will enable superfast placement or orders, maintaining complete transparency of all orders.
Instead of following the common path of collecting funds via an ICO, Open Trading Network has been created in partnership with the distinguished trading business IQ Option. In addition to financing the creation of the network, IQ Option is also providing the platform for its first commercial use.
Staring from October 7th, 2017, The Open Trading Network Foundation has initiated the process of issuing a total of 100 million OTN tokens every Monday and over the following 104 weeks. The exact distribution plan for the tokens is as follows.
- 42 million to the holders, traders and wallet users on the OTN platform
- 28 million to the shareholders and IQ Option team members
- 30 million will remain with the OTN foundation for the purpose of future distribution and attract strategic partners.
To find out more about Open Trading Network and their unique venture, please visit https://otn.org/
About Open Trading Network: Open Trading Network is the first 100% collateralized decentralized exchange which will allow fully secure exchange between the blockchain networks. OTN foundation is committing itself to develop the network described in the white paper and also several applications to help the different stakeholders to benefit from the network.