Secured on the Ethereum blockchain and compatible with all Ethereum wallets; our 14th of June crowdsale of 500,000 OROC tokens represents 45% of the total equity for nine euros per OROC. Orocrypt is a Panamanian-based company that will create a crypto alternative as proof of ownership of precious metals. After the ICO, if the minimum capital is raised, Orocrypt will present the Gold token: the first product of the company, which will represent the ownership of 30 grams of LBMA-quality gold and will be looking to expand to Silver, Platinum and bespoke tokens in the future. Our gold-tokens will be backed up, securely stored and audited. They can be convertible into gold on demand and as well compatible with all Ethereum wallets.
Orocrypt is an asset digitisation company that aims to introduce an easier and more secure alternative to precious metals ownership. We are currently focusing on issuing tokenised precious metals Tokens will be backed by securely stored and audited precious metals, convertible on demand, and easily tradable. Tokens are secured on the Ethereum blockchain and will be compatible with all Ethereum wallets. They can be bought or sold instantly and seamlessly. Orocrypt does not have any control, nor can exercise control over who buys the tokens from our registered clients. We will only be involved if someone purchases tokens directly from us or decides to redeem their physical gold, therefore the tokens can be freely traded in exchanges or directly P2P. Orocrypt will first launch gold-backed tokens, each representing 30 g of LBMA compliant bullion gold. In the future, we will expand to Silver, Platinum and bespoken tokens of digitised assets.
These tokens represent Common shares in Orocrypt Inc. These are not redeemable for shares—they are shares today. The Superintendencia del Mercado de Valores of Panama has been informed about this share-tokens sale. Like any company common shares, they entitle holders to dividends, rights to vote, and rights to payout in case of acquisition or sale. Orocrypt has a fiduciary duty to token holders. Orocrypt plans to issue tokenized precious metal, starting with gold in Q3 of 2017. Orocrypt will charge a 1% commission fee over gold spot price on all sales of one token or more and a .04 % transfer fee when they are transferred between wallets. Fees for less than one Token will be: 5% for purchases between 0.9 and ½ token and 10% for purchases between ½ and 0.1 Token.