Blockchain API Marketplace Creator AIKON Will Launch Its First Cryptocurrency ORE Token on ConsenSys’ New Token Foundry Platform

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AIKON's ORE token is required to participate in the company's ORE economy

“We’re pleased to be working with AIKON,” said Harrison Hines, Founder of Token Foundry. “AIKON's decentralized API marketplace is a great use case of blockchain."

AIKON, an R&D technology company serving the decentralized economy, revealed plans to launch a sale of its ORE token as one of the first projects for ConsenSys’ new token launch platform Token Foundry.

AIKON’s ORE token is required for Miners, API providers, and other users who want to participate in the company’s ORE economy. Token economics are designed to incentivize the sale of high-quality services in the marketplace and disincentivize low-quality services and fraudulent testing.

“We’re pleased to be working with AIKON,” said Harrison Hines, Founder of Token Foundry. “AIKON's decentralized API marketplace is a great use case of blockchain, and their ORE token is a good example of how you can create new network effects and enable consumers to generate value in entirely new ways with a token.”

A few of the ways the ORE token supports AIKON’s API marketplace:
1. Network Operations: miners receive ORE rewards for storing and maintaining a record of API access rights and running regular tests that check the health and performance of protected resources.
2. API Quality: API producers define SLAs for each API and provide unit tests that, when run, prove that the API is meeting those SLAs. API producers may attach a fee (in ORE) to incentivize miners to prioritize these tests. Test results are public and provide proof of an API’s history of quality and reliability. High API reliability allows a producer to charge a premium and gives a strong incentive to pay fees in ORE to run tests often.

API producers may also bid on a price paid in ORE to improve the placement and marketing of their API in the marketplace. This is similar to Google AdWords auctions. API producers may also stake ORE to increase the likelihood of their API being featured in marketplace banners and searches.

“The ORE token is an essential piece to enabling a decentralized API marketplace for our developer community. It provides a unique incentivization structure to encourage developers to publish their APIs and offers ORE miners a strong economic incentive to help maintain the health and integrity of the network,” said Tray Lewin, CTO at AIKON. “We’re excited to be launching the ORE token alongside the ConsenSys team, true pioneers in this space, as one of the first token launch partners for Token Foundry.”

To learn more about AIKON and the Open Rights Exchange Protocol, visit http://www.aikon.com, join Team AIKON on Telegram, or sign up to be alerted when the public alpha is available for testing at https://aikon.com/sign-up.html.

About AIKON
Founded in 2017 by an encryption technology pioneer, a former political operative and a banking veteran, AIKON’s vision is to build technology products that decentralize and catalyze the global digital economy. AIKON believes that the world must become a decentralized global economy to facilitate worldwide collaboration and equal opportunity regardless of location, background, or easy access to banks or credit cards. AIKON has raised $2 million from Palo Alto-based OVO Fund and various angel investors from the U.S., Japan, and Europe.

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Marie Williams
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