A billion Orchids have BloomedDec 10, 2019
Orchid is pleased to share that the Orchid token (OXT) is here! We want to thank all of our supporters that have been with us since the beginning of our journey, as well as those who have joined the community since.
Start using the Orchid app and OXT today
The Orchid app is fully live on both Linux and Android for users to use today. The app is a VPN client, decentralized VPN service and networking tool that gives users insight and control of their Internet connection. Orchid harnesses the power of the Orchid network so that users can receive VPN service by paying with OXT.
For instructions on how to use Orchid, please Join the Privacy Network today!
If you’re interested in exploring our Open Source code and developing on Orchid or seeing how it works please visit our Github@OrchidTechnologies.
If you are interested in getting in touch with the Orchid team please contact us.
History of Orchid Labs and OXT
As Orchid launched, a total of one billion tokens were created to power the Orchid Network. The ERC-20 token, OXT, is used to incentivize a peer-to-peer network of providers to sell services to the network. Participation in the Network of distributed nodes is designed to grow over time along with the user base to support it. We believe that the power of Open Source software and communities will lead to a more robust Privacy Network. We see developers using our technologies as the foundation for new innovative ways to build future applications. Our focus continues to be on the core visions of the founding team: fostering innovation by building passionate open source communities with strong developer participation and creating a more accessible, private Internet.
Our first sales of token rights was in conjunction with the formation of Orchid Labs as a company in 2017 through a Reg D (Rule 506(b)) private placement. Fortunately, our supporters were enthusiastic about the potential of a decentralized, consumer-facing VPN network on Ethereum; Threshold (formerly DFJ), Sequoia Capital, Andreessen Horowitz, and other top tier firms participated in building the Orchid network. We sold rights to approximately 163 million tokens for $4.9 million.
Our last token rights sale was during Q2 of 2018 after the resources necessary to successfully execute the project became increasingly clear, in particular, the need for a top-tier technical and product team, and for best-in-class marketing. We sold rights to approximately 85 million tokens for $43 million.
We are honored to have such an incredible community of supporters along the way. We are proud to share the Open Source products we’ve built and our contributions to the larger Web3 ecosystem that are enabling the Internet to be reclaimed by its users. We view Orchid as a portal for users to Web3 and a decentralized system designed to empower and benefit users.