Ourcoin(OUR) is a community token for the purpose of allowing people to transact across OURSONG’s platform and other services in a future where digital goods and experiences will exist inherently as their physical equivalents do today.
Ourcoin contract address on Ethereum 0xA2887163633612a0526Dc51E666D7dc73f8Cf02C
We believe that NFT technology will accelerate the assetization of digital goods, content, services and experiences. This will bring tremendous opportunity to digital creators, opening new dimensions that will transform the way we experience digital content. Our four years of research and testing have also validated early hypotheses regarding the digitization of emotional sentiments as well as the assetization of personal digital footprint.
OURSONG’s NFT digital music collectibles is but the first step of many products currently in development. We have identified music as our starting point because of its scalability and timeless popularity. Also, with 17 years of experience developing music streaming platforms at KKBOX Group, we have the advantage of not only deep relationships with the music industry but also over a decade’s worth of second and third order music consumption and behavioral data analytics allowing us to build effectively for the future of this industry.
As we transition into Web 3.0, we anticipate the mass adoption of NFT technology and the birth of a new digital goods and services economy. We plan to expand to other creative, knowledge and purpose economies that include film, books, games and other content experience based industries, allowing us to provide creators with direct to market access, allowing them to make a living directly from their consumers and fans.
As we build our anthology of vertical applications to empower the future commerce of storytelling, art and endless forms of creative expression, we aim to make Ourcoin to become the leading cryptocurrency across creative industries allowing for B2B, B2C and C2C transactions to occur in a blockchain powered future. Ourcoin holders will be able to transact digital goods and services and participate in cross platform governance across applications and services in the ecosystem. They will also be eligible for exclusive benefits derived from token staking as described below.
Token Allocation
OURSONG will issue a token coin named Ourcoin (OUR) which will run natively on Ethereum, using ERC-20. Ourcoin’s total supply will be capped at 420 million OUR. The supply would be divided into two phases.
In Phase One, OURSONG plans to release 30% (126M OUR) of Ourcoin’s total supply in the first 12 months in accordance to Fig.1 (Phase One Token Allocation Table), but in the case that supply is not sufficient for market demand we will accelerate the rollout of Phase Two. The token distribution in Phase One is focused on facilitating activities like marketing, content acquisition and liquidity mining with the critical goal of creating a healthy ecosystem within the OURSONG community.
Phase Two would see the vesting of the remaining 70% of Ourcoin’s total supply. OURSONG will publish the operations of our token allocation annually. We will allocate at least 50% of the total supply to the community, through Staking, Market Liquidity Mining, and various other platform activities.
The initial price of each Ourcoin will be set at 0.1 USD.
Phase One Rollout
Team and Investor
4% out of the total supply will be assigned to OURSONG team members and equity investors, rewarding their efforts and commitment to building OURSONG. Each team member and investor’s issued amount will vest on a daily average spread over a five year period starting from January 1st 2025.
Ecosystem Fund
3% out of the total supply will be allocated to building, investing, and advocating Ourcoin in the OURSONG ecosystem. The scope of usage activities in ecosystem funding are as follows::
- Marketing:
Releasing Ourcoin to the community through marketing campaigns and activities is an important chapter of building a healthy ecosystem for Ourcoin. OURSONG shall randomly and frequently launch various marketing campaigns and activities to acquire and activate users, to facilitate the community and the platform as well as promoting NFT content. A variety of incentives and programs including airdrops, rewards for referrals and content creation, bounty programs and various crossfield partnerships globally.
To honor Ourcoin holders, the amount of token would be considered for extra bonus and benefit in campaigns through staking. Users can enjoy priority notification, airdrops and bidding. These privileges will be proportional to the amount of Ourcoin held. Ourcoin holders are also welcomed to offer suggestions and feedback to OURSONG’s governance. - Partnership:
OURSONG’s will allocate this portion of Ourcoin’s Phase One supply to seeking advisors, strategic partners, and numerous collaborators in,
A. Platform development
B. NFT creation and cultivation
C. Ourcoin ecosystem growth
Vesting periods will be applied accordingly. - Curator:
Curator to catalyze different forms of arts and performances in every category and country. To generate the best of NFT creations, OURSONG plans Curator Reward for bringing more creators to the NFT world.
The vesting periods for Curator Rewards would vary according to the natures of curation projects. The longest vesting period could be up to four years.
Liquidity & Private Sale
13% out of the total supply will be allocated to providing market liquidity, IDO(Initial DEX Offering), and private sale.
Staking
To generate extra value for Ourcoin holders, OURSONG’s will have a staking mechanism. 4% out of the total supply will be assigned to our Staking Reward pool and will be issued to holders who stake their token through OURSONG platform. There are three benefits of Staking:
- Staking Reward
The minimum amount per stake is 100 Ourcoin. The rewards are proportional to the amount staked as shown in the Staking Reward Table. The minimum duration of one stake is 14 days. A user may start staking any day and unstake any day after 14 days. - Discount on Marketplace Transaction Fee
- Priority and privilege in marketing campaigns and promotional activities. (See Ecosystem Funding section above)
Marketplace Liquidity Mining
Marketplace Liquidity Mining is to encourage Ourcoin holders to engage in NFT transactions on the OURSONG platform. 6% out of the total supply will be assigned to Market Liquidity Mining Reward (Mining Reward) and will be issued to users proportional to their monthly transaction. The reward will be 20% of OURSONG’s monthly marketplace fee income. The Marketplace Liquidity Mining Reward is as follows:
- Total Transaction Volume in X month (TTV)
- User Transaction Volume in X month (UTV)
- Total Transaction Fee in X month (TTF)
- User Marketplace Liquidity Mining Reward (UMR)
- X month = the month to assign Marketplace Liquidity Mining Reward
Mining Reward Formula:
UTV ÷ TTV × TTF × 20% = UMR
Each OURSONG account will receive no more than 1% of the Total UMR. The excess UMR will be divided averagely and distributed to all users who have made transactions within each month.
Token Utility and Benefit
Governance Right
Ourcoin token holders, users, creators, and collectors will have different levels of governance rights. The qualification of exercising governance rights will be calibrated against the amount of Ourcoin held by each holder. Ourcoin held in staking do not qualify towards governance rights. The five types of rights are as follows:
- Proposal Rights
- Petition Rights
- Voting Rights
- Final Approval Rights
- Access Rights
Details including the product roadmap and rollout of the governance rights will be announced in Phase Two.
Favor of Marketplace Fee
Users can use Ourcoin to settle for any fees on OURSONG platform, including but not limited to:
- Marketplace fees (with discount rate from time to time)
- NFT creation fees
- Withdrawal fees
- Gifting
- Other future fee types
OUR Repurchasing Plan
OURSONG will use 30% of quarterly marketplace fee income to repurchase Ourcoin. This will continue till 50% of Ourcoin in circulation (210M) is repurchased and destroyed. These transaction hashes will be published publicly.
About OURSONG
Our Vision of the Future
Blockchain technology and crypto-tokens have turned our real world into a game like metaverse. Virtual currencies are becoming real money and now, virtual goods have also become tradable assets in the real world.
We believe that everyone, not just elites, should have access to transformational technology that turns everyday creativity into economic wealth.
Background
OURSONG began as a blockchain research project at our Ideation Lab at KKBOX Group.
KKBOX Group is Asia’s leading media technology company. Founded by a group of music loving Internet software developers, we built and launched the world’s first on-demand music streaming services in 2003.
Based in Taipei, we gradually grew our business from Taiwan out to Hong Kong, Singapore, Malaysia and Japan.
Ever curious towards discovering new business models of the future, we have expanded our business scope from music streaming to live events, technology services, content, investments and continue to explore reinvention through innovation in the digital entertainment space.
Co-founding Curators
Chris Lin
Chris is a Taiwanese technologist, inventor and entrepreneur who co-founded the world’s first legal music streaming platform KKBOX. He is currently the Group CEO of KKBOX Group, Taiwan’s leading media technology foundry He is a Stanford University alumni with a Masters degree in Operations Research.
Pochang Wu
Pochang is a Taiwanese technologist and musician. He founded indie music platform iNDIEVOX and is the lead singer of renowned Taiwanese indie-rock band ECHO, He is also co-founder of theFARM, Taiwan’s biggest indie label network, and is as an active member of the Taiwan blockchain community.
Terence Leong
Terence Leong is award-winning Chinese-American veteran music producer and former record executive. He co-founded Taiwan’s biggest indie label network theFARM and currently serves as Group CCO of KKBOX Group. He is also a member of the Executive Education teaching team at the Stanford Graduate School of Business.
Kevin Lin
Kevin is a Taiwanese-American technologist and investor and one of two pioneering founders of Twitch and its former COO. An avid angel investor, advisor and Yale University alumni, Lin is also a consistently deep patron to his hometowns of New Orleans and Taipei, as well as to Asian American founders and creatives.
Kevin Nishimura
Kevin Nishimura is co-CEO /co-founder of Transparent Arts. As a founding member of the Far East Movement, the first Asian American artists to hit #1 on the Billboard charts, Kevin has over 15 years dedicated to championing the AAPI community in entertainment and creating new business paths in Asia.
Ken Cheung
Ken Cheung’s experience has covered various entrepreneurial and leadership roles in technology, media and entertainment companies including Tencent, Warner Music Group, BBC, Facebook and Instagram. Ken, a Harvard Business School alumni, is currently advising and investing in high-growth startups.
Meindert Kennis
Meindert is a reputable music industry veteran with vast experience in the global electronic music scene. He is the former CMO of Spinnin’ Records res Meindert and helped growth-hack the Spinnin’ brand globally between 2008 to 2019.
Che Pope
Che Pope is an American hip-hop producer from Boston, MA. Pope is also the former C.O.O of G.O.O.D. Music. He is perhaps best known for producing on the Grammy Album of the Year winning album Miseducation of Lauryn Hill and the Grammy-nominated “Bound 2” by Kanye West and co-executive producing Yeezus.
