The BCOT token is the utility token that powers functionality in Catenis Enterprise, a powerful blockchain 2nd Layer integration product built by Blockchain of Things, Inc.
When used in Catenis, this token converts into internal Catenis credits which activate key system functionality including secure message transmission, blockchain data logging, smart-asset creation, and smart-asset transfers, enabling an incredibly powerful feature set for enterprises.
When used in Catenis, BCOT tokens are consumed as part of the system’s rapid adoption technology. Consumed tokens convert into real Bitcoin blockchain value (actual bitcoins) that are used for miner fees and dust value (small amounts of bitcoin). Token consumption powers the ability for our customers to build decentralized applications, intelligent edge contracts, smart agents, smart assets, and secure permissioned communication across the open global peer-to-peer Bitcoin blockchain by using our already existing Catenis enterprise Integration application.
BCOT Global Holdings is a Blockchain of Things, Inc. company specifically geared to provide product sales and support outside of the United State to the international market. It is the only authorized entity licensed to sell BCOT Tokens during the public sale and products globally.
Blockchain of Things, Inc. focuses on the local market in the United States. Public sale BCOT tokens are not being sold by Blockchain of Things, nor individuals, or any other entities in or outside of the US .
It was decided that U.S. citizens, residents and entities should be excluded from purchasing BCOT Tokens in the public token sale because of some of the logistical challenges associated with differing regulations in the many states of the United States of America. Blockchain of Things and BCOT Global Holdings and its representative law firm does not believe that the distribution of BCOT Tokens or the BCOT Tokens themselves are securities, commodities, swaps on either securities or commodities, or similar financial instruments. The BCOT Tokens are not designed for investment or speculative purposes and should not be considered as a type of investment. Nevertheless, U.S. citizens, residents and entities should not purchase or attempt to purchase BCOT Token during the public sale.
No, Blockchain of Things tokens are Omni Layer tokens created on the Bitcoin blockchain. Omnilayer is an open-source, fully-decentralized asset platform on top of the Bitcoin blockchain. BCOT tokens are the utility token needed to use Catenis Enterprise a software layer built on top of the most popular, most audited, most secure blockchain, Bitcoin. Other popular tokens on the Omni layer platform are Synero, Tether and Maidsafe.
OmniWallet.org is not part of our Organization. The OmniWallet is a decentralized wallet built on top of the bitcoin blockchain. If you lose your credentials (username and password) you will lose all of your tokens and any cryptocurrency you have received in your wallet. The moment BCOT Tokens are distributed to our customers, we have no way of retrieving your wallet or your tokens. Losing your credentials means you will lose all of your tokens. Your OmniWallet is your responsibility, owned by you and controlled by you. It should be secured and protected accordingly.
BCOT tokens can be stored in an Omnilayer wallet or Omnilayer compatible wallet. The Omnilayer wallet also acts as a decentralized exchange. To create an Omnilayer wallet you can follow this link.
The international BCOT Token public sale starts on June 27th, 2018 at 13:00 Eastern Time (17:00 UTC) with a duration of up to 6 weeks.
The international BCOT Token Sale Ends on August 8th 2018 at 13:00 Eastern Time (17:00 UTC).
This program is a way to encourage individuals NOT engage in 3rd party exchange with the BCOT Tokens. 12.5% of the total supply of tokens will be allocated to the Customer Rewards Program, which is applicable to anyone who owns tokens. These tokens are distributed to individuals who do not move their tokens from their wallets every 6 months proportionally. If you hold your tokens for at least 30 days or use it in Catenis Enterprise, you are eligible for the Customer Rewards Program in proportion to your “Average Token Per Day” (defined below).
Details of the program and an example can be seen in our Toke Economics Document.
Anyone that purchased and holds BCoT tokens can be part of the Loyal Customer Reward program. You must register via BCOT Global Holdings website and provide the receiving address that holds your BCOT tokens (public address). The address is a standard legacy bitcoin address (Not Segwit) and will be listed on your OmniWallet.
Any holder of BCOT Tokens can participate in the Loyal Customer Reward program. Even if the holder purchased BCOT Tokens from 3rd parties after the tokens sale.
The loyal customer program starts the day of the initial distribution of BCOT Tokens and ends three (3) years after.
Tokens from the Loyal Customer Rewards program will be evenly distributed on 6 Reward Dates that occur every 6 months after the initial token distribution. As such, it will take three (3) years to fully distribute all the tokens from the Loyal Customer Rewards Program. The distribution of tokens from the Loyal Customer Rewards Program will be in proportion to your “Average Tokens Per Day” during the six-month period before a given reward date.
• They act as product service licenses which powers all services of the Catenis platform and is required for the Catenis Enterprise to function
• BCOT Tokens convert to Catenis Credits in the system and map directly to bitcoin transaction fees.
• They can be transferred peer-to-peer like any other crypto token.
• They are tokens that are created and transferred across the bitcoin blockchain making it one of the most secure tokens available to date.
• Any public sale buyer who purchases USD $25,000.00 or above of tokens is entitled to a one (1) year Pilot Development Kit license (PDK).
*PDK provides the full functionality of the production product used for development purposes.
The minimum purchase accepted during the BCOT Token public sale is $50.00 USD.
The maximum supply will be determined by the community based on achieving target sales which start at USD $0.50 per token with incremental increases up to USD $2.00
$0.50 USD up to 10m sold
$0.75 USD 10m - 20m sold
$1.00 USD 20m - 30m sold
$1.25 USD 30m - 40m sold
$1.75 USD 40m - 50m sold
$2.00 USD 60m + sold
* Note: The public sale may end at any time when the hidden cap is reached.
More details can be seen in our Token Economics Document
BCOT Global Holdings will distribute 20% of the total maximum supply to buyers. 7.5% will be made available during the token sale and 12.5% will be distributed via the Loyal Customer Reward program.
We are not of the belief that simply issuing tokens and choosing a number out of thin air is an acceptable way of deciding on a maximum supply. To attempt to make the token issuance as fair as possible, we decided to make the maximum supply a function of how many purchases our customers made. So the maximum supply is directly tied to the total amount of sales in the token sale.
To calculate the total maximum total supply:
(Total dollar amount of tokens sold) ÷ (price per token USD) = X
(X) ÷ (percentage of total tokens being sold during Token sale) = Maximum Supply
Working example based on $11M dollars sold:
(USD $ 11,000,000) ÷ (USD $0.50) = 22,000,000
(22,000,000) ÷ (0.075) = 293,333,333.33 BCOT Tokens total maximum supply
BCOT Tokens will be distributed several months after the end of the BCOT public token sale period which will end on July 9th 2018 at 13:00 Eastern Time (17:00 UTC) or sooner if the hidden cap is reached. The company will need time to have customers review their accounts and establish wallets. Any person who wishes to use their tokens on Catenis Enterprise can contact BCOT Global Holdings directly to discuss product licensing options.
Eligible buyers have up to 3 years to claim their Catenis Enterprise Pilot Development Kit license. Licenses will be made available on a first-come first-serve basis. When you are ready to start using your license, please contact Blockchain of Things, Inc directly through the Contact Us link to start on the process of scheduling to receive your license number and obtaining the use of the product.
There is no official hard-cap, however there is a hidden hard-cap. The sale will end when the hidden cap is reached or after 6 weeks, whichever comes first. The hidden cap is not known by anyone but key company officials.
A hidden-cap provides an incentive for token sale buyers to participate as soon as possible to guarantee delivery of a portion of the distribution.
There will be no lockup period for the BCOT TOKEN public sale.
While Blockchain Of Things Inc. will not be involved in any way in the transferability of the BCOT Tokens, BCOT Tokens act like any other cryptocurrency tokens and can be transferred peer-to-peer on platforms operated by 3rd parties after the BCOT Token distribution.
Yes, BCOT Tokens are Bitcoin blockchain tokens; therefore, transfers will be subject to the standard Bitcoin fee market.
Proceeds from the BCOT Token sale will be the revenue of BCOT Global Holdings. As a private company, proceeds of the BCOT Token distribution will be utilized by BCOT Global holdings at its sole discretion as with any product sale conducted by a private company. The BCOT Token is a product that acts as a product license which unlocks functionality in our already existing product.