Opu Labs Announces New Board Members and Advisors

Provided by www.freepik.com.

While we continue the work on our upcoming marketplace release, we have some great news about new additions to our team.

Ali Kole and Stormy Simon have recently joined the Opu Labs, Inc. Board of Directors. We are thrilled to have them join us!

Stormy Simon

Stormy was an instrumental player in the development of Ecommerce through her 15 years at Overstock.com. She entered the company as a temp in 2001 and within 2 years had become the VP of Branding with her production of the iconic “Discover the Secret of the Big O” campaign. Stormy went on to develop many departments winning numerous awards for her efforts in marketing and customer care. She was the International spokesperson for years and has been featured on CNN, Forbes, Inc. 500, and many other media outlets. Stormy was named a 2016 Power Player by the National Retail Federation and Top Innovator from Utah Women’s Tech Council. In 2016, she left Overstock as President and member of the board to explore the emerging cannabis industry where she currently lends services to female owned start ups, serves on the Board of Directors for High Times and Advisory Board Member of CannaKids.

Ali Kole

Ali Kole is a beauty addict, CEO, advisor and investor.  After 16 years at McKinsey, Bain, Harvard Business School and Microsoft, Ali realized it would be a lot more fun to create a career aligned with her passion.  This led to 8 years at LVMH creating, acquiring, running and reshaping beauty brands, as Chief Executive Officer of skincare brand Ole Henriksen and SVP of Strategy & Business Development for Sephora.  She co-created Kendo, the brand incubator behind Fenty, Marc Jacobs Beauty and other disruptive influencers, and now advises beauty investors and brands. Ali is a personal growth and wellness devotee and loves makeup free days spent hiking, teaching sensual dance, and enjoying spa and adventure travel.  After 9 years in LA, she and her husband Keith moved to Boulder CO and are happily settling into mountain living.

Also we have two new welcome additions to our outside advisory board, – both experts with deep experience in FinTech and blockchain technology.

Quentin Herbrecht

Quentin is a serial  entrepreneur who has worked with more than 20 successful ICOs. He is also a representative for several VC funds including FasterCapital and has extensive experience in advisory, mentorship and ICO development.

Chen Si Yuan

Chen Si Yuan is the Founder and CEO of the Northern Capital investment company.  He has acted as a financial advisor to over twenty ICOs. He has extensive experience as a fund manager, securities trader and market development manager.

We hope to have more news soon regarding the upcoming product release, the results of the recent skincare challenge survey as well as news on partnerships.

Image provided by www.freepik.com.

Opu Coin Smart Contracts Released on Ethereum

We are pleased to report that the OPU Coin smart contracts have been successfully deployed on Ethereum! The official contact address is as follows:

0x55f359A60D458D3D215E7A51539084FC3F65DaAD

 The token tracker page for OPU Coin can be found here: https://etherscan.io/token/0xedf66033e74cd7734316c4cb5aeaa2e8f7f620c8

 Note, do not rely on any other blockchain contracts or addresses using the same name as Opu, Opu Labs, or Opu Coin. Given that we have conducted the development of OPU Coin as an open source project, there are some unauthorized versions of the smart contract appearing on Etherscan. These addresses should never be used and will not be    recognized by Opu Labs as legitimate tokens. Unauthorized usage of our smart contract code is a copyright and trademark violation and we strongly request third parties to contact us if they would like to use the code in any way.

Over the course this quarter, we will be executing the various OPU Coin allocations and enabling OPU functionality across the platform. In addition, we are actively working on our Marketplace which will include the release of both the Android and iOS apps. So expect to see more news from us soon!!

Opu Coin Distribution Update

Introduction

Opu Labs would like to thank our community for the strong participation in our Opu Rewards program. We are super excited to share that so far we have over 123,000 accounts on opu.ai and over 30,000 users in our Telegram group. Over 50,000 users have completed a skincare profile and of those users, 28,000 have submitted skincare images to help train our AI engine.

From our community’s participation in our social airdrop and our new skincare research challenge, this consumer support has been integral for Opu to partner with our first group of skincare brands (stay tuned for more information). To support these partnerships, Opu Labs had allocated 189,000,000 OPU (189 Million) towards Opu Rewards for the token sale phase. Here’s how those rewards have been distributed thus far:

Please note that as of December 20th, the Brand Research Challenges and Skincare Rewards will continue while the rest of the ICO programs will come to an end.

Because of the large number of participants in Opu Rewards, we’ve been receiving daily requests about how OPU earned from the program will be distributed. In this post, we discuss those questions and provide some background on our policies.

Recent ICO Price Crashes

Before we provide our answers to the most commonly asked questions, it’s important to provide some context on the state of the ICO market since Opu Labs first launched. From our review of ICO performances over the past 6 months, we found that over 90% of publicly traded projects are currently trading significantly below their ICO Price. As many of you know Bitcoin has dropped from it’s peak of $20,000 USD in December 2017 to a current valuation of around $3,500. Similarly, Ethereum has experienced over a 90% drop in value from it’s peak of $1,200 to a current price of around $85.

Why is Opu Labs telling me this?
Observing these market movements has been an extremely beneficial learning experience. In response we have already taken several value building steps – we significantly reduced our hard cap, significantly reduced our total supply, reallocated the pools, and implemented numerous mechanisms to promote price stability. And most importantly, we have learned that premature bounty distributions are one of the main causes of price crashes on secondary cryptocurrency exchanges.

Despite all the volatility in the markets over the past few months, Opu Labs hit its softcap and generated significant market interest in our platform. So going forward, Opu Labs plans to release its full platform ecosystem BEFORE listing on any secondary exchanges. Rather than taking  the “traditional” approach of listing on an exchange immediately after the close of ICO, Opu Labs will instead release the Opu Marketplace before listing on public exchanges to avoid unnecessary price speculation.

But wait, I want the tokens I earned!

We understand that some Opu Rewards members will want to liquidate their tokens based on their experience with other coin offerings. So why can’t you do this with the Opu coins you earned? Here’s why we won’t be listing Opu immediately on secondary exchanges. With a large percentage of our issued supply allocated to Opu Rewards participants, we will carefully manage how the tokens make their way onto the open market.

Opu Labs allocated 1.35B OPU to the ICO (50% of our total supply) and 103,201,401 have been contracted by investors to date. So the Opu Labs public sale will end on December 20th, 2018 and no additional OPUs will be sold to the public after this date. The remaining OPUs in our supply will be allocated to OPU marketplace purchases and a portion of them possibly burned at a later date.

In parallel with the Opu Marketplace going live, Opu Labs will introduce the Liquidity Bridge to enable public holders to transfer their OPUs to buyers on the Opu Marketplace. The company is targeting to have the Opu Marketplace fully functional by the end of Q1 2019.

Exchange Demand

Liquidity is a huge concern with most cryptocurrencies. In the past, the easiest way to tackle liquidity was to list on as many exchanges as possible. Opu Labs has been and is currently still being approached by dozens of exchanges (over 50 to date) to list on their exchange. We are thrilled to get this much interest. However, we will take a methodical approach and pick those exchanges who fit our business model and vision the closest.

As our Liquidity Bridge will provide token holders with liquidity directly within the ecosystem, Opu Labs has decided to wait to list on exchanges until both the Opu Marketplace and the Liquidity Bridge are live.

Now, let’s explain how this affects Purchasers and Opu Rewards token holders.

When will I receive my OPU from Opu Rewards?

All purchasers of OPUs who passed KYC will receive their tokens as promised within 14 days after the close of ICO. We want to encourage purchasers to continue to hold their OPU through our holding bonus program. Instructions and details surrounding the holding bonus program will be sent directly to purchaser’s login email(s).

All OPU earned from Opu Rewards will be available for in-app utility following the close of our public sale and the launch of the OPU marketplace with products or services available in your geographic region.

For those rewards holders who would like to hold and later sell their tokens, we will start unlocking a portion of those tokens after we have listed on our first few exchanges, but not before this date. We will make regular announcements on the status of the marketplace and exchange listing progress.

Our intention is to provide our early adopters with an opportunity to purchase skincare goods & services at a discounted rate thanks to their early support for the project. But at the same time, we must take every necessary precaution to minimize token dumping, price speculation and to promote real utility.

As we continue to build out the Opu ecosystem, we hope our rewards participants will appreciate the pure utility for which the OPU Coin has been designed. We fully intend to promote liquidity for all of our ecosystem participants and want to stress that this distribution method is intended to benefit the largest number of holders over the long-term.

Thank you for your patience and support. We encourage you to continue to participate through the new Brand Rewards and Challenge Program and track our new feature releases over the next few months.

Sincerely,

Opu Labs