OnPlace seeks to create a decentralized investor community, accessible to anyone.
OnPlace aims to make the VC world more efficient by using Blockchain technology to dispose of unnecessary complexity, allowing to elicit maximum potential of investments.
The concept of the Private Assets Tokenization System (PATS) protocol lies in tokenising over-the-counter (OTC) assets for customers to invest into, and creating liquidity for the OTC environment.
OnPlace are set to launch their TGE next month providing customers with an easy way to invest into a number of companies from IT-related industries using business standards and cryptocurrency expertise.
OnPlace is a team of developers looking to create a decentralized investor community for customers to join allowing for closed Over-the-counter (OCT) assets to be introduced to the market turnover and to create liquidity for them as well. OTC investments can be a complicated process in itself, nevermind knowing which industry to focus on. OnPlace will create opportunities for investing into funds of the fastest growing tech companies around the world with low entry thresholds for the average person to access.
OnPlace is aiming to provide all the tools necessary for customers to trade assets at their own will and freedom without the unnecessary red tape that is usually accompanied by OTC investments. The transformation of shares into tokenized smart contracts will be secure and guarantee customers shareholder rights.
OnPlace has an expertise in the investment of the private IT industry.
“We can say with absolute certainty that investment into private IT companies has become one of the most reliable ways to get a high return percentage on investments in a relatively short period of time. “
This team, headed by experts in the cryptocurrency domain alongside the investment industry want to provide customers with a secure and accessible service which allows them to invest into successful companies through their tokenization protocol called PATS. The company would like to focus primarily on the private IT industry which is growing and incredibly significant industry in today’s market.
The PATS Protocol
The concept of the Private Assets Tokenization System (PATS) protocol is to tokenize over-the-counter (OTC) assets for customers to invest into. The protocol entails multiple steps firstly establishing a marketplace opportunity window (MOW), following the MOW there is a selection of projects to be tokenized based on the criteria and communal discussions of crypto-investors.
The next step is the tokenization of various projects that were eligible under the PATS protocol leading to the circulation of the established PATS tokens. Lastly the tokens are supported during their life cycle which ensures a complete decentralized control of the tokens under the control of the token holder community.
The commercial infrastructure for varying classes of assets and properties involves numerous complex components which can be time consuming and hard to navigate through. The primary challenge for the OnPlace team’s development of the protocol tokenization of investments into the shares of successful private companies was to create a universal and scalable instrument. OnPlace wants to provide a transparent and safe solution in the OTC investment field.
The use of the PATS protocol solves the issues around the OTC investment field by securing and standardizing a channel of account management based on smart contracts. Furthermore the decentralization of audit and participants’ decision-making and through the integration of management principles directly into the asset itself will open potential access for everyday people of the world to purchase OTC assets which is often a daunting experience.
Investing in private company shares can have a minimum investment fee of up to $10,000 whereas the PATS protocol allows for a minimum of $1 allowing users much more flexibility in investing funds. The transactions fees will be considerably lower than rates that can be as high as 5% whereas OnPlace will charge rates of 0.05-0.2% saving money for customers to invest with more capitol.
Access to information is a huge issue for everyday citizens so OnPlace want to provide all the financial information possible to help customers on their path to investment. The exiting process and liquidity of an asset can prove long and troublesome which OnPlace guarantees will be easy and efficient for customers to process. These features will help relieve customers of the usually difficult experience of investing in private company shares transforming investing as we know it.
OnPlace’s Roadmap and TGE
Following its creation in 2016 OnPlace has opened up an office in Moscow where only a few months later had successfully registered in the US and opened a corporate bank account with a self-funding of $500,000. By the following year after establishing a team that developed an alpha version of their Ethereum Blockchain Contracts launching a closed alpha for early investors. This allowed the company to attract over $1,100,000 with their first wave of investors from a crowdfunding platform.
On February 10 the pre-sale came to its end, during the 10 days of which OnPlace successfully raised its softcap! OnPlace made a short pause in order to send all the bonuses to participants and make an update on the crowdsale page. Now, since all early investors have gotten their bonuses, OnPlace has decided to expand its community and resume the pre-sale in order to reach the hardcap of 15,000 ETH (as it was stated at the start of the campaign).
The contributions were made in all major cryptocurrencies such as: BTC, ETH, LTC and BCH. Besides the amount collected in various cryptocurrencies during the pre-sale, the OnPlace project also successfully funded the campaign through the crowdfunding platform.
"Resuming the pre-sale is a step forward towards speeding up the development phase, attracting additional leading experts to our project, and in this way allowing our idea to come to life faster. We are currently working on some updates for the roadmap that we plan on providing for the community ASAP. Listing OPL on exchanges is also in progress. We expect to have this ready during Q2.
Learn more about OnPlace.
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Company name: OnPlace Inc
Company site: https://onplace.io