Coinsilium enters SAFT Agreement to purchase USD75,000 of future tokens in the “Early Backers” round of the Otomato Web3 Automation Protocol to be distributed throughout a vesting period.
LONDON, UK: Coinsilium Group Limited (AQUIS: COIN) has entered into a Simple Agreement for Future Tokens (SAFT) with the Otomato Web3 Automation Protocol.
Otomato is a Web3 automation protocol designed to simplify the process of building applications by eliminating the complexities of blockchain development.
What is the Otomato Web3 Automation Protocol?
Otomato is a Web3 Automation Protocol that streamlines the creation of automated on-chain actions and responses within the blockchain ecosystem.
Otomato.xyz is the first decentralised application of the Protocol and enables De-Fi traders to create and automate their own Web3 trading strategies as a succession of on-chain actions which can integrate reactions to off-chain events. User control and security on the platform are ensured through account abstraction (ERC-4337), making blockchain automation accessible and efficient for all users.
By providing “modular blocks” that can be easily integrated into various trading strategies, Otomato is designed to be accessible to a broad trading audience, without need for a deep technical knowledge or coding skills.
Investment Terms
Under the terms of the SAFT, Coinsilium will receive USD75,000 in value of the future tokens of the Otomato Web3 Automation Protocol in accordance with the ‘Early Backers’ token allocation pricing and vesting terms.
Coinsilium also has the option to acquire an additional USD150,150 in value of the future tokens of the Otomato Web3 Automation Protocol in accordance with the ‘Strategic’ token allocation pricing and vesting terms.
At this stage, the Company cannot disclose specific details relating to price or number of Tokens to be received. Further details will be provided by way of an update to the market in due course, when the Company is in a position to do so.
In addition, Coinsilium will earn 7.5% of revenues generated by the Otomato.xyz platform up to the time of the Token Listing Event, anticipated to occur during 2025. Revenues will be predominantly derived from affiliate fees from actions executed through integrated protocols and fees from transactions initiated via the Otomato.xyz platform. The private alpha launch of Otomato.xyz is scheduled in Q3 2024, and the public launch of the platform is expected by Q4 2024, when revenues would be expected to commence.
Eddy Travia, Chief Executive Officer of Coinsilium commented: “There are numerous examples of highly successful web-based automation platforms including Zapier ($5bn valuation) and IFTTT (valuation estimated between $100m and $500m) in Web2. We therefore see a huge opportunity for a similar model adapted for the fast-growing Web3 space.
This investment in the future tokens of the Otomato Web3 Automation Protocol presents a great opportunity to join a highly promising venture with substantial growth potential at a very early stage.
By removing the necessity for coding skills, Otomato revolutionises the practice of executing sophisticated Web3 strategies. Traditionally, this process requires coding expertise, but Otomato allows users to take advantage of advanced strategies without sacrificing security or control. Users retain full ownership of their crypto assets, ensuring that automated on-chain actions align perfectly with their trading goals and risk preferences.
As repeated through previous technology adoption cycles, we expect the Web3 space to enter its next phase of development whereby non-technical users become the fastest growing user group, drawn by user-friendly applications such as the ones powered by the Otomato Web3 Automation Protocol. This positions Otomato to potentially become a cornerstone of global Web3 adoption.
We look forward to supporting the talented founding team of Otomato Web3 Automation Protocol throughout their future development milestones and achievements.”
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