What is OTO?
OTO is a future blockchain crypto-currency created by the OTO Foundation. It is presently available only in a private, pre-ICO stage. In most typical Initial Coin Offerings, purchasers receive only a promise of coins to be delivered on the future blockchain, once its "genesis block" is inaugurated at the completion of the ICO.
Because of its deployment of SilentVault technology, the OTO Foundation is able to offer purchasers of its OTO delivery of their coins immediately, in the form of OTO vouchers. This allows purchasers to spend their OTO, or sell or exchange them for other assets right away, without needing to wait for the completion of the ICO. When the OTO blockchain is initialized, its genesis block will contain OTO coins sufficient to back all of the OTO vouchers in circulation. At that point users will be able to convert OTO vouchers into equivalent coins on the OTO blockchain by redeeming their vouchers, and likewise to purchase OTO vouchers (which will continue to circulate) using OTO coins from the blockchain, in a manner similar to Silent Bitcoin.
The fees currently charged by SilentVault for transactions in OTO are as follows:
- Purchase OTO with BTC or LTC: 0.0% (free), minimum quantity 350.0 OTO.
- Make OTO voucher spend: 0.15 OTO
- Receive OTO voucher spend: 0.06 OTO (first one is 0.02)
- Escrow exchange: 0.5% of amount, minimum quantity 35.0 OTO
To learn more about OTO, please contact the OTO Foundation. See also the website at oto.money.