Open Trading Network, the first 100% collateralized decentralized exchange, is breaking new grounds in the industry by making exchanges between the blockchain networks fast and secure like never before. The company’s vision is to build a set of applications aimed at making the crypto world open to the common man and all market participants.
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 regulator 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 is 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.
Starting from October 7, 2017, Open Trading Network Foundation initiated the process of issuing a total of 100 million OTN tokens every Monday and over a period of 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.