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Introduction
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1. Project introduction
OORT's Vision
OORT aims to create a world where people fully own and control their data, and use natural language as the gateway for effortless data interaction.
The OORT Preeminence
OORT technologies are backed by US patents and academic publications. OORT has built strong partnerships/Clients with 40+ projects/companies, such as DELL Technologies, Tencent Cloud and Emurgo, as well as with 20+ elite universities in the U.S., such as Harvard, MIT, and the University of Chicago.
2. Token application and distribution
Token application:
Service Payment
Users can always pay fiat currency (via credit card) for different services in the OORT ecosystem.However, a discount is usually given to the users who use OORT utility tokens for servicepayments.
Staking
OORT offers two ways for token holders to stake tokens: Stake tokens with staking pools. One candelegate tokens to node providers via OORT bonding pools. Node providers will use staked tokensas mining collateral. As a result, you will receive a share of mining rewards from the provider.Become a node provider, Stake tokens as mining collateral.
Governance
Governance is one of the primary functions of the OORT ecosystem. Users submit proposals andvote on topics like network parameters, slashing mechanisms, and service fees.
A proposal must be submitted with a certain amount of deposit, which is fully refundable once theproposal passes. lf the proposal fails to pass, deposits will be distributed to the mining rewardspool for node providers.
Token Deflation
The OORT Foundation will use up to 30% profit to regularly buy back and burn its utility tokens toreduce the total token supply and thus gradually and continuously increase token value.
Token burning frequency: every three month
Token burning cap: 40% of the total token supply
Token distribution:
Financing (early investors): 10%, linear release within 4 years
Funds (long-term partner support, academic subsidies, public utilities, etc.): 10%, linear release in 3 years
Team (incentives for team core members): 15%, linear release in 4 years
Mining reservation (infrastructure provider reward): 65%, released according to the mining reward token model
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