Smart Contract and Tokenomics Update

We have just completed the audit of our Smart Contract and as a result have made the decision to drop the ERC-223 standard in favor of ERC-20 so Opu Coin holders will enjoy more robust security. Also, based on feedback from the community, we decided to adopt real-time minting which eliminates the need for a growth reserve. This will make the post-ICO token economy even more attractive while providing for stable long-term growth. Furthermore, Opu Labs will be implementing a smart contract to fulfill network transactions from public token holders before minting new tokens. We have defined this Buy-Back System in our latest white paper update which is now available on our website.

Real-Time Minting: Introducing Live Scalability & Efficiency to the Opu Economy

Users who earn Opu Coin through token-creation events will receive these tokens through real-time minting rather than from a pre-minted supply in a growth reserve. This simply means that new OPU reward tokens will be created with each token-creation event rather than issuing them from a reserve created at launch. By switching to a real-time minting system, Opu Labs will be able to effectively scale with the market for five or more years of growth.

Buy-Back System: Introducing High Liquidity & Fast Token Exchange

The Buy-Back System will be created to establish a method for public token holders to sell their tokens and to fulfill user transactions on the OPU network. This system provides liquidity to public holders and also ensures that Opu users are protected from external market volatility. The smart contract will use an average market price for OPU purchase orders that are created within the application. In the case where a new transaction cannot be fulfilled from a public token holder (due to price or supply), new Opu Coins will be minted in real-time.

Pool Reallocation: Introducing New Allocations

With the elimination of the Growth Reserve, we have taken this opportunity to adjust the overall allocations. We have added tokens to the OPU public sale pool to take it up to 50% and reduced the cold storage, founder/team and partner pools. This reallocation is in line with the excellent feedback we have received from the community.

As a result of the increase in the size of the ICO token pool, we will revalue the token sales price from the previous rate of $0.059259 per OPU to $0.037000 per OPU. This pricing will be fully retroactive and all previous purchasers will be compensated with bonus tokens to match the new rate. This is not a discount but rather the result of the increase in the size of the ICO token pool.

Impact on Token Scarcity

The net positive effect of these changes will be to drive the projected tokens per wallet from just over 13,000 after launch to approximately 408 by year 5. This is a 33X increase in token scarcity across the ecosystem and should be expected to drive OPU coin towards significant value creation.

Furthermore, for the first two years of trading the public holder allocation will represent the vast majority of the circulating tokens due to the combination of holding periods for team/founders and the addition of the Buy Back System.

Summary of Changes

To summarize, the following changes have been made to Opu Labs’ token model:

  1. Growth Reserve eliminated and replaced with real-time minting.
  2. Buy-back System defined and committed in our white paper.
  3. Increase in ICO Pool and token sale repricing.

Our token re-distribution is geared towards aligning with more traditional ICO structures while simultaneously incorporating innovative features to allow for long-term growth within our ecosystem. Combined with our new Buy-Back System, Opu Labs has created numerous new ways to drive utility of the Opu application and manage speculation on secondary exchanges.

For more information on these new feature, please visit our website and download the updated whitepaper.


For more information about Opu Labs’ ICO, visit: http://ico.opu.ai/

Read our Whitepaper: http://ico.opu.ai/whitepaper
Join our Telegram group: https://t.me/opulabs
Catch us on Twitter: https://twitter.com/opulabs
Follow us on Facebook: https://www.facebook.com/OpuLabs/
Check us out on Instagram: https://www.instagram.com/opulabs/
Connect with us on Reddit; https://www.reddit.com/r/opulabs/
Read what we’re saying on Medium: https://medium.com/opu-labs
For inquiries, contact: ico@opu.ai

Opu Labs ICO Update — Opu Brand Connect, Exchange Partnership, Token Sale Update, and More…

As we reported last month, we exceeded 100K registered users on our platform out of which 40% shared their valuable skincare profile information. We have now exceeded 114K and the numbers keep growing. In response to the great traction, we are pre-announcing today Opu Brand Connect which will enable skincare brands, marketers and researchers to gather valuable information from consumers while providing rewards in the form of Opu Coin. We have started signing up marketing partners for the service and will be making announcements over the next few weeks. The target date for the Opu Brand Connect launch is October 1st so stay tuned!

Opu Skincare Challenge #1 (Airdrop)

The first challenge using these new features will be offered by our team. Opu Labs Skincare Challenge #1 is a tailored Airdrop which will consist of 35,000,000 OPUs awarded to users who have completed their Opu skincare profile and who participate in a rigorous skincare product test using Opu Labs tools. Eligible participants can earn a minimum of 2000 OPUs for the completion of the defined tasks with additional bonuses available for users who go above and beyond the baseline tasks. Opu Labs will post the kickoff of this challenge on our social media in the coming weeks. All skincare enthusiasts are welcome and we encourage you to refer your friends to earn additional Opu Coins;-)!

Opu Coin Shop

Last month we also posted about our plan to give liquidity directly to ICO holders of OPU coin. Since then, these plans have significantly advanced. We are now looking to integrate this functionality into the Opu Coin Marketplace. The Opu Coin Marketplace will be a user friendly storefront where consumers and marketers purchase OPUs in order to use them within the network or for other purchases. Our ICO Participants will be able to place orders with their earned and purchased OPUs within the Opu Coin Marketplace in order to sell them directly to the OPU internal market as an alternative to secondary exchanges. With this system in place, the Opu Network will become a major acquirer of Opu Coins going forward.

First Exchange Partnership

Opu Labs has entered into an agreement with the Bancor Network to list OPU after the completion of our ICO. The Bancor Protocol provides an on-chain, fully decentralized solution for continuous conversion between tokens through a low-cost, perpetual, algorithmic and adjustable liquidity mechanism. Bancor compliant tokens are called​ Smart Tokens, and connect to form the Bancor Network​ for​ decentralized liquidity​.

Bancor Token Relay

Bancor’s smart token platform is a great fit for OPU and we plan to connect the Opu Coin Marketplace to the network.

Partnership with TokenDesk

We will be extending our token sale to the TokenDesk Platform. TokenDesk is a direct token marketplace for FIAT and cryptocurrency crowdfunding, giving investors a technical solution to purchase Initial Coin Offerings Tokens in a faster, safer and more reliable way.

TokenDesk simplifies the purchasing process by providing a single platform where participating ICOs are listed in one place, as well as offering expert‘s help to evaluate the ICOs. We will be adding the TokenDesk widget to our home page and purchasers outside of the US and Japan will be allowed to purchase tokens on our site as well as on TokenDesk’s portal.

Update to Terms of Token Sales

As of today, we have sold approximately 73 million OPUs and coincidentally have also rewarded about 73 million OPUs to users. We have received a lot of market feedback and have been observing the recent results of other ICOs on the market. Based on this analysis, we are updating our token sale terms as follows:

The original hard cap of $37M was determined after looking at our extended 4–5 year budget in line with recent blockchain industry practices. Conversely, the softcap was set to be in line with market launching a full minimally viable product. Given the continued progress of our development efforts combined with better than expected user registrations, we believe that lowering both the hard and soft caps to $20M and $2M respectively is appropriate. Additionally, these lowered caps will directly contribute to price stability and lowered volatility post-ICO.

With respect to the ICO closing schedule, we understand that many of our Opu Rewards and Airdrop participants are anxious for us to close the ICO and distribute the tokens. However, after looking at the recent performance of many ICOs on the market, we believe it is in the best interest of everyone involved to continue to build real value in parallel to conducting the token sale. For this reason, it is mandatory that we extend the sale until the end of the year.

The Time Is Now

These combined updates make Opu Coin ever more attractive — real commercial service launches, adoptions ahead of expectations, and serious solutions for token liquidity and price stability. As one of the primary holders of OPUs, Opu Labs is very excited about the recent updates and prospects. For users such as yourself, the time to participate is now!

Please join us by purchasing your OPUs directly at http://ico.opu.ai.

Opu Labs Update: Bonus Period Extended

Pre-sale bonus remains at 42.9% thru July 31

The Pre-sale is designed to validate our online process and to get market feedback. We have been able to quickly achieve both goals this past week. We currently have a high volume of people going through the KYC and sign-up process, and we’ve had more than 30,000 people use our skin scanning technology app.

Nevertheless, given the current bear market conditions, it is unanimous among our team and advisors that we should extend the current bonus level for another 30 days.

Effective today (July 2), the 42.9% Pre-sale bonus will be extended until July 31 — and the ICO closing date will be targeted for September 30th.

In addition, we are lowering the Soft Cap to $3M. We originally set the Soft Cap at $5M back in December, but since then we have made excellent progress in developing our platform. We believe that we will be able to launch our service in selected markets for much less than $5M; and that $3M will be more than sufficient to get the first commercial version of our platform live.

With major institutional investors planning to invest in cryptocurrency, we believe that the market will correct in the near future. But we also believe that market conditions like this are the best time to jump in!

We’ll keep you posted on further developments as they happen. Stay tuned.

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For more information about Opu Labs’ ICO, visit: http://ico.opu.ai/

Read our Whitepaper: http://ico.opu.ai/whitepaper
Join our Telegram group: https://t.me/opulabs
Catch us on Twitter: https://twitter.com/opulabs
Follow us on Facebook: https://www.facebook.com/OpuLabs/
Check us out on Instagram: https://www.instagram.com/opulabs/
Connect with us on Reddit; https://www.reddit.com/r/opulabs/
Read what we’re saying on Medium: https://medium.com/opu-labs
For inquiries, contact: ico@opu.ai

Join Our Token Sale In Ten Easy Steps🚀

Here’s how to do it…

Welcome to the official guide on how to participate in Opu Labs’ Token Sale!

Follow these ten short steps and you’ll soon have your Opu Wallet up and running — allowing you to get a head start in your quest to acquire Opu Coins.

STEP #1

Head to https://wallet.opu.ai/ and register your account. You must be a citizen OUTSIDE of U.S. or Japan and all checkboxes must be checked.

STEP #2

After you sign up, verify your email by clicking on the link sent to your mailbox.

STEP #3

In order to qualify for the Token Sale, we need you to go through a short KYC process to verify your identity, so you’ll need to follow the on-screen instructions.

STEP #4

Then you’ll need to upload your Proof of Identity. It has to be a photo of your Passport or National ID — NOT a scanned image.

STEP #5

Ready for your closeup? Next, you’ll need to take a selfie – while holding the ID document submitted.

STEP #6

Verification can take up to 24 hours, but usually takes only a few minutes. Refresh your page to see if you passed!

STEP #7

After successfully verifying your ID, you can start using your Opu Wallet.

STEP #8

Login with your newly-created user account.

STEP #9

The Wallet dashboard tells you all you need to know to buy Opu Coins.

STEP #10

To buy tokens, you’ll need to send the appropriate amount to the address that appears in the pop-up screen. You can purchase OPU coins with Bitcoin, Ether, or Litecoin.

To receive your tokens after the ICO ends, you will need to provide your ETH wallet address.

But What Wallet Will Be Able To Store Opu Coins?

Any wallet that supports custom ERC-20 tokens can handle OPU. Here are a few worth looking at:

  • MyEtherWallet (Web)
  • MetaMask (Browser)
  • Parity (Desktop)
  • Mist (Desktop)
  • Ledger Nano S / Ledger Blue (Hardware)
  • Trezor (Hardware)

And, that’s it. It’s simple as that!

If you have any more questions, our Telegram moderators are ready for duty 24/7.

Evolving Skincare Through Blockchain Technology

We are excited to welcome you to our project! For more information, follow the links below:

• 🌐 Website (ICO): https://ico.opu.ai

Opu Labs’ ICO — The Inside Story

On the eve of our Pre-Sale I wanted to reach out to the community and share our story.

The entire Opu Labs initiative has been data driven. Data drove us to focus on product marketing on mobile devices, data drove us to focus on skincare products, and data showed us that there was a problem to be solved in this industry.

Since launching our Opu Coin initiative a few weeks ago, we have built a community of well over 100K people and it keeps on growing. And so we want to apply the same data driven discipline here.

We now have a community with participants from 189 countries with our friends from Vietnam being the largest — Chào mừng! Our members are approximately 20% women — much higher than the average for crypto — a number that’s sure to grow. Also we see that a very large percentage of our community works in financial services or e-commerce industries. So we are engaged with an unbelievably diverse audience who is sophisticated about blockchain and financial technology.

I have been following encrypted digital payment systems since the late ‘90s and have been tracking bitcoin since the early days. In recent years, I have focused on tokens which enable ecosystems and help accelerate commerce. At the peak of the market last November, I should have been happy with the numbers. Actually I was figuratively kicking myself that I hadn’t gotten into certain tokens earlier when I first heard of them! So this led me to start thinking more deeply about what makes a good ICO; and when doing an ICO actually makes sense for a company.

Also last year, I had been advised by several friends that I should be looking into ICOs as a way to grow our business. But given the tokens I had studied, I rejected the idea out of hand as being too much work and still too early. Enter James Hodgman, our Chief Architect and lead developer for Opu Labs. James confided in me that he had also been dabbling in crypto and that he thought we should accelerate plans for our Rewards & Payment system using the blockchain. The timing couldn’t have been better and I agreed to look into it.

A blockchain based financial model is about tokenizing the front-end of your business, as opposed to securitizing the back-end through tedious equity contracts which were created in the 17th century. By tokenizing the front-end and doing a token pre-sale, the company can plan long-term and laser focus on the market without distractions. Our token holders can get liquidity and hold an asset which is both tradeable as well as usable on our network for services. We can reach out to a vast marketplace globally to find potential customers, collaborators, and fans who understand the vision and like the long-term prospects of the token. And we at Opu Labs have committed fully to making Opu Coin a success as a critical component of our Skincare Intelligence platform.

We are extremely grateful to the 100K+ people from just about every U.N. country who have gathered around us at this point. We welcome you, need your support and look forward to your participation! Together — through better data — we will enable Opu to connect consumers to optimal skincare solutions while giving our users control of their personal information.

Please watch our channels for more info on how to participate in the Pre-sale and beyond.

Thank you.

Marc Bookman
CEO
Opu Labs, Ltd.

Opu Update: Second Preview Release Now Live!

New features, new team members, and an updated ICO schedule.

The team here at Opu Labs is proud to announce the second Preview Release of our Opu.ai platform. We’ve made some great strides since the first release last November. We’ve spent a substantial amount of time thinking through our use cases, reviewed our ecosystem’s financial models, redrafted our white paper following industry expert feedback, and developed a smart token which will take us through the first phase of Opu’s evolution.

As a result, we’ve now added a number of new functions to our service:

  • multiple facial analyses
  • extended skin tone analysis
  • user skin profile creation
  • the ability for users to earn OPU Coins in their own personal wallet

In addition, our Opu Rewards program is now live, so users can start receive OPU Coins by completing profiles, introducing friends, and by participating in our social media channels.

Details about the Opu Rewards program and our upcoming Airdrop can be found here.

Revised ICO Date

Our next step is to continue building our online community in the run up to our revised ICO — which will now take place on 17 July 2018.

The ICO sales window has changed too:

Private Sale (part of Pre-ICO pool)

– 50% (to ICO discount) — Open Now

Pre-ICO / Pre-sale starts June 26

– 40% (to ICO discount) — 26 June 2018

– 30% (to ICO discount) — 29 June 2018

– 20% (to ICO discount) — 02 July 2018

– 10% (to ICO discount) — 05 July 2018

ICO

– The Main Event — 17 July 2018

Medical Advisory Board

Another significant recent development is the creation of our Medical Advisory Board. Under the guidance of our Chief Medical Advisor, Dr. Dhaval Bhanusali, we have recruited an amazing group of dermatologists (see our website for full details) who will be advising and assisting us as we develop Opu into a tool with real utility value.

In addition, respected New York dermatologist, Dr. Anna Karp, has been working directly with our team to develop Opu’s advice and recommendation services.

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For more information about Opu Labs’ ICO, visit: http://ico.opu.ai/

For inquiries, contact: ico@opu.ai