Part II. The OtoCo Token: A Loyalty Scheme, Usage Token and Voting Card - All in One
In this second part, we are sharing our proposed design for the OtoCo token. In Part III, we share how we plan to make its issuance and pricing fully transparent.
Proposed token design
Our aim when designing the OtoCo token was to do something different, not for the sake of it but with the aim to improve on various token models we studied, some dating back to the ICO days and some from more recent DeFi projects.
Our design had three objectives:
We wanted the token to have utility without forcing users to buy a native token in order to access services on otoco.io.
At the same time, we wanted to have a transmission mechanism for rewards, not only for loyal users but also for outside developers who build and sell add-ons in our soon-to-launch dAppstore.
Finally, we wanted to give token holders generally the broadest possible participation rights in the OtoCo project.
We believe our design as it stands comes close to reconciling these three objectives. Read how next.