Author: Japan Blockchain Foundation
Compiled by: Deep Tide TechFlow
The Japan Open Chain (JOC) alliance, operated by the Japan Blockchain Foundation Inc. (CEO: Hidekazu Kondo), announced the successful completion of the Initial Exchange Offering (IEO) for the 'Japan Open Chain Token (JOC)', led by BitTrade Inc. (CEO: Lei Xiang). The total application amount for this IEO exceeded 9 billion yen, far surpassing the original planned sales amount of 1.2 billion yen, and all tokens were successfully sold out.
This IEO plan has a total sales amount of 1.2 billion yen, including a priority early bird sale (540 million yen) and a regular lottery sale (720 million yen). However, the actual application amount far exceeded expectations, accumulating over 9 billion yen. Even after deducting payments that were not completed and canceled orders, the final confirmed application amount still significantly exceeded the target. Ultimately, all tokens worth 1.2 billion yen were sold out by the end of the IEO.
The regular lottery sale will end at 11 PM on December 17, 2024 (Tuesday), and the lottery results will begin to be announced on December 18. Users participating in the regular lottery sale will gradually receive notifications. The 'Japan Open Chain Token (JOC)' is scheduled to officially go live for trading at 12 PM on December 23, 2024 (Monday), and will be available for trading at BitTrade and several exchanges globally.
The schedule may be subject to adjustments.
About the JOC token (also known as 'JOC Coin')
The JOC token (Japan Open Chain Token) is a cryptocurrency used to pay transaction fees on the Japan Open Chain. The Japan Open Chain is a blockchain project compliant with Japanese laws, operated by trusted entities, aiming to make Web3 technology more widely accessible to the public through high-speed, low-cost blockchain services. The project aims to solve social issues globally by providing instant transfer fees below 1 yen and enhancing asset liquidity through the use of NFTs.
Official website: https://www.japanopenchain.org
Whitepaper: https://static.bittrade.co.jp/pdf/whitepaper.pdf
To ensure market liquidity after the IEO, the JOC token plans to be listed simultaneously on multiple exchanges globally (on the same day or around the same time), which is a first in Japan. Starting from December 23, 2024, not only Japanese investors but also global users will be able to purchase JOC tokens.
"Japan Open Chain" - A blockchain originating from Japan
The Japan Open Chain is a public blockchain compatible with Ethereum (Layer 1), jointly operated by several Japanese companies. The project collaborates with industry leaders and Web3 innovators to provide global users with secure, efficient, and low-cost blockchain infrastructure. Through bank-led stablecoin projects and the digitization of assets such as NFTs, the Japan Open Chain is actively constructing the financial infrastructure of the future and promoting the transformation of global digital finance.
Currently, this blockchain is jointly operated by 14 validators (blockchain operation partners), including the startup CORGEAR Co.Ltd. under the Sony Group, Dentsu Inc., NTT Communications of the NTT Group, G.U. Technologies, Inc., insprout Corporation, Kudasai Co., Ltd., Minna Bank, Ltd., pixiv Inc., TIS Inc., extra mile Inc. under the Asahi Television Group, Kyoto University of Arts, Hatena Co., Ltd., CAC Corporation, and CYBERLINKS CO.,LTD. The entire blockchain is managed in a decentralized manner, with plans to expand to 21 validators in the future to further enhance network stability and security.
