XYO Network: Details of the Roadmap and ICO Structure
Every digital currency needs their ICO event to explain their long-term plans to the world and to attract investors, here’s what XYO expects to accomplish with their ICO’s public sale.
XYO was founded in 2012 and from that moment they have been working to develop ways to bring the smart contract technology into the real world. To get there, they have developed a new platform known as XY network that uses a decentralized set of devices to locate an object subject to small contract and fulfill said contract into execution using the XYO utility token. The main use of this financial instrument is to provide the geo-location of the goods and services subject to the smart contract and to pay for them. As it works with many ICO’s in the market right now, the company is looking to finance a portion of their operation by making a series of private sales that will lead to a public event. So far, they have been very consistent with their plan which can be appreciated to its fullest on their roadmap.
XYO Network: The works of the past.
Since their appearance as an independent company in 2012, they focused on the development of IoT applications centered on the use of XY-coordination’s. They went live with a B2B location app called Webble in 2013, their level of success was enough to keep them in business with a network of over 9000 small business being able to be located in their network. They switched their efforts to direct-location in 2014 with an app called XY Find It based on Bluetooth. By 2015 they had developed an upgrade on their device named XY2. By 2017 they had developed one of the best GPS trackers on the market called XYGPS and sells a million units in record time. In this year they shift their attention to blockchain technology and how to use their geo-location technology combined with the best qualities of the Blockchain.
The Present and The Near-Future
XYO plans to have a series of private presales to attract investors, so far details on most of these events have not been released yet. However, the public sale is set to begin on March 20th of 2018, and it will run through until May 20th of the same year. The company has pre-generated 3.2 billion XYO tokens with a price set at 1 ETH for 100,000 XYO units as the starting price. The closing cost of the sale will be of 1ETH for 33,000 XYO. The company still has to announce the price structure fixed to the timetable.
The XYO token is a utility token developed using the ERC-20 protocol. There are no published figures on soft cap and hard caps expectations, but the company has a projected figure of $48 million to be considered successful. The funds collected on the sale will be allocated as it follows: 40% will be used to the expansion of XYO’s marketing strategy, 35% will be used for engineering and further development of the platform, 15% will be used to strengthen the XY Oracle Network and the last 10% will be allocated to support the expansion of the ecosystem on the Ethereum Blockchain.
With a solid plan to use IOT principles and the logistics provided by zero-knowledge proof along payment upon delivery we could very well be facing the new way to pay for services provided at a moment’s notice. XYO has a clear route to follow, let’s see how far they can get! To learn more about their plans, you can visit :