FAQ's
“Commodities” is the collective term given to raw materials – everything from gold, silver and precious metals all the way to rice, flour, cotton and timber.
They are traded on exchanges where people bet on the prices going up or down and also traded physically where someone will purchase a container or a ship full of cargo/commodity.
OODLE is the solution to years of frustration regarding the antiquated methods of conducting business in the commodity trading industry. OODLE in the first instance will consist of the OODLE token (ODL) and the OODLE MarketPlace (OMP)
The OODLE ecosystem will have at the centre the OODLE MarketPlace (OMP) which will be a transparent trusted safe haven where vetted buyers and sellers as well as trusted third parties come together to conduct and commodity trade in the real world. The ODL token will be the utility token used to conduct trades offering oversight and governance to all parties in the transaction. As per the roadmap there will be other facets of the ecosystem implemented in due course further enhancing the viability of the OODLE ecosystem.
The OODLE team welcome all forms of evolution in the commodity trading environment as they only serve the validation the current solution needs to be changed. In terms of our own journey we are confident our solution will be one of the leaders in the industry due to the partnerships already secured and the long term vison of the organisations we are aligned with.
Until recently the physical commodity trading environment was a very antiquated process an OODLE has been an idea since 2018 but the institutional adoption of blockchain and crypto was not prevalent until recently
The maximum supply of ODL token is 100,000,000
The ODL token is not a stablecoin however is not susceptible to the same market movements other tokens are due to the fact we are indeed a bridge between real and crpyto worlds. Regardless of bull and bear markets commodities will always be traded and OMP members will always require the ODL token.
No the ODL token is not a security token. It is a utility token as per the law of the UAE.
- 20% presale
- 30% mainlaunch
- 30% locked for liquidity on exchanges
- 15% team tokens (1.5% released every 4 months)
- 2% legal
- 3% marketing
The OMP is an online portal bridging the gap between buyer and seller. All parties are vetted by independent panel of experts and commodity traders to ensure rogue actors are not granted access to the OMP.
In the first instance, the TIMBER, MEDICAL and ENERGY industries will be focussed on. Eventually the OODLE ecosystem will accommodate all industries and as more sectors are opened you will notified via press releases and through updates on OMP. Due to the high number of applications the sectors might be opened earlier than anticipated.
The OMP benefits both parties primarily by providing governance on the trade itself. In addition, the OODLE ecosystem aims to reduce the cost of doing business vs the traditional offering by utilising smart contracts to ensure better cash flow management for the seller, timely payments to all logistics and documentation partners as well as a reduction on unit price for the buyer. Overriding all the above, both buyer and seller are pre-qualified ensuring no hidden skeletons appear during the transaction.
The key things the panel will look for are (but not limited to) pedigree, longevity, reliability, integrity and liquidity. All parties within the OMP will be required to KYC and may even be subject to randomised physical inspections. The KYC and vetting process is continuous to ensure the gold standard of the OMP is met and upheld
To ensure best practice, all parties who would like to take full advantage of the OMP and its smart contract algorithms will be required to subscribe on a monthly basis
Membership tiers, combined with vetting results, will allow a buyer or seller to increase their rating on the OMP enabling them to have a more visible presence on the OMP as well as leveraging the OMP rating in their own marketing to enhance their credibility.
Parties on the OMP will see a series of drop-down options all relating to parameters of the portion of the trade – an example would be which port the goods need to get shipped to and who’s responsible for the payment and insurance etc. The algorithm will collate all the data and create a contract based on the parameters agreed.
The OODLE team has strategic partners and members of the dev team all over the world but the core team including founders and management are all based in Dubai, UAE.
