Enosi Announces Unique Hybrid Security Token/Utility Token Funding Approach
SYDNEY, Australia, 16 Oct 2018 Enosi Australia Pty Ltd (www.enosi.io) has released a world-first in terms of blockchain project funding — a security token offer (STO) of ordinary shares along with bonus utility tokens, ahead of its Commercial Energy Trading Platform Release in November 2018.
The offer is unique in that the Joul token being allocated to investors is administered and controlled by an independent third party, the Enosi Foundation, and investors will benefit from global adoption promoted by the Foundation.
The offering comes in light of the recent collapse of the cryptocurrency market worldwide. Nearly 70% of value has been lost in the global cryptocurrency market since its peak in late 2017.
As a result, many blockchain investors have called for equity in the underlying technology companies. While this now aligns with the more traditional venture capital approach, it has also meant that powerful network effects, the very thing that drove investment into crypto in the first place, are at risk of being lost. Enosi has retained a true utility token in its model to drive user adoption of the platform.
Enosi Australia CEO, Steve Hoy explains, “The beauty of utility tokens is that all participants of a network are rewarded for the growth of that network. We’ve recognised the call for equity, but believe management should not have two masters — equity holders and utility token holders,” Hoy added.
With this separation, Enosi Australia is bringing together the traditional equity play that commercialises technology for the company’s benefit, with a community of network participants who can come together to use and build the platform, improve it, and be rewarded for doing so.
Enosi’s roadmap at a glance
· Information Memorandum (IM) issue date: 15 October 2018
· Commercial Platform release date: November 2018
· Full scale solution release date: June 2019
· Security Price: A$1.00
· Number of Securities: 6.9m
· Series A funding sought ~A$6.9m (US$5m)
· Series A JOUL tokens percentage: 15% of total to be minted
Enosi is building a blockchain-based Energy Operating System for communities and innovative startups to focus on value-added clean energy and compete with large energy companies, by enabling aggregated buying power, mutualised wholesale risk, and innovative peer-to-peer community trading of electricity.