OST Token Review: What you NEED to Know
📝 Overview 📝
OST is project that is building a blockchain-as-a-service.
Through OST’s “branded token creation”, they are giving these external developers a quick and easy way to create their own token without having to worry about requirements such as KYC etc.
The Simple Token blockchain is comprised of Simple Token sidechains that connect to the Ethereum blockchain through the OpenST protocol.
There are minting contracts on these sidechains that are connected to staking contracts on the Ethereum Mainnet.
The OpenST protocol then has to establish utility of the token by proving intent.
The utility token behind the OpenST protocol and it is an ERC20 token that was issued on the Ethereum blockchain.
The token was issued through an ICO that took place in December of 2017. They were able to raise just over 21 million dollars in exchange for 30% of the total supply of tokens (or 240 million tokens).
The OST token has a diverse background with different skill levels. Many of the original developers are from a company called "Pepo". There are 60 team members.
There have also been a number of partnerships that OST has entered into over the years.
OST token can be bought on Binance, Upbit, Huobi etc. However, turnover numbers are on the lower end which could mean less liquidity.
OST Tokens are ERC20 so that means you have a range of options when it comes to storage. You should rather opt for a trezor or ledger.
⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: https://ost.com/
► OpenST Protocol Whitepaper: https://drive.google.com/file/d/0Bwgf...
► Mosiac Protocol Whitepaper: https://github.com/OpenST/mosaic-cont...
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.