ORO

OroPocket is a blockchain-based financial platform that is entirely asset backed. OroPocket claims no insidious, hidden charges and time-consuming tedious work. OroPocket intends to enable users to diversify their portfolios while maintaining transparency and security, which aids in wealth creation. The firm also aims to provide consumers with a smooth banking experience based on assets.

OroPocket aims to be a platform that claims to allow retaining the currency in assets as an alternative to putting currency in a bank account. The platform seeks to provide solutions that enable customers to spend their assets quickly by utilizing an asset-backed debit card. OroPocket seeks to allow users to transfer assets to anybody globally and get fast loans rapidly. On top of that, users may receive a return on their assets. OroPocket seeks to claim that every asset available on OroPocket is fully insured, backed by tangible assets, and regularly audited by third parties.

The symbol of the native token of the platform is "ORO." ORO is an ERC20-based token that aims to help users become a part of the available finance ecosystem and protocol. The ORO token is utilized for transparent governance, reserve building, and rewarding behavior that benefits the network. Users can stake their ORO tokens to gain network-generated inflationary incentives.

Mohit Madan and Tarusha Mittal are the cofounders of OroPocket. OroPocket was created in 2017. The initial supply of ORO is one hundred million tokens. All of these tokens were distributed, and 30% of ORO tokens were sold and used for fundraising purposes. In addition, 10% of the tokens were sent to the ESOP (employee stock ownership plan) pool and company reserve. For staking rewards, 20% of the total coins were allotted. Another 20% was kept aside for building asset reserves. Partners were given 10% of the coins. Lastly, advisers and marketing purpose funds were allotted 5% each.