September 13, 2018
Oneiro Launches ndau, the World’s First Buoyant Coin Optimized for Long-term Store of Value
VC-backed, unpegged digital currency incorporates built-in governance, stability, dependability and growth incentives
BOSTON, MA — September 13, 2018 — Backed by COSIMO Ventures, Oneiro NA Inc. has announced the launch of ndau, the world’s first buoyant digital currency optimized for the long-term store of value. Oneiro completed its equity round from COSIMO Ventures earlier this year and has successfully sold privately nearly $15 million of ndau to date. Unlike stable coins, ndau is not pegged to fiat currencies or commodities. Rather, incentives and economic controls are built into the design of the ndau blockchain in ways that improve on both digital predecessors as well as traditional non-digital currencies. ndau features innovations which seek to provide a combination of digital governance, reduced volatility, value appreciation potential, and long-term dependability not found in existing cryptocurrencies.
Jim Kent, CEO of Oneiro, said: “While other cryptocurrencies have achieved an impressive rate of growth, their volatility has presented a barrier to mainstream adoption, warding off many institutional and retail investors from entering the market. In order to move towards acceptance of a decentralized digital monetary system, we must address the problems of governance, stability, and dependability that limit wider acceptance of cryptocurrencies, especially for a long-term store of value. We are thrilled to have built a truly resilient, global digital currency that will address these issues.”
ndau was initially formulated by the ndau Collective, a group of over 20 leading experts from world-class institutions including MIT, Columbia University, Carnegie Mellon, New York University, University of Chicago, and Goldman Sachs and who specialize in disciplines ranging from economics and monetary policy to cryptography and computer science. Typical stable coins are largely pegged to other currencies or commodities and are therefore subject to the influence of institutions that may not prioritize the interests of long-term holders. This leads to inflationary policies that erode value over time. By contrast, ndau, is governed by the Blockchain Policy Council (BPC), a group of digital delegates continuously elected by ndau holders that are held accountable to the interests of the entire ndau ecosystem.
While stable coins have features to push against price drops relative to fiat currencies, they are also limited in their ability to increase in value over time, making them a less optimal choice for long-term value storage compared to traditional assets. The BPC’s monetary policy fosters a pro-growth environment for the value of ndau while mitigating its downside volatility.
Ken Lang, a technology pioneer and an early member of the ndau Collective said: “When a group of early bitcoin enthusiasts came together a few years ago to map out the biggest limitations to wide adoption of cryptocurrencies, it was clear that those looking to use crypto for long-term value storage had problems that weren’t being addressed. ndau was created as a solution to these problems. The ndau Collective designed an ecosystem of decentralized participants and roles that use built-in incentives, checks, and balances to align interests properly and to protect the interests of all ndau holders fairly. These participants and roles, such as market makers, delegates, and endowment managers, work together to promote price stability without limiting growth – making it a better fit for long term value storage.”
ndau has economic incentives built into its ecosystem to encourage market interactions between ndau holders that tend to stabilize its price. ndau holders are rewarded based on duration of holding, ensuring that those holding it for its intended purpose are well served. ndau’s monetary policy automatically responds to market conditions in real time, releasing new ndau for sale from the endowment only when demand warrants, and according to a public schedule of target prices that rise exponentially over time. Proceeds from ndau sales flow into an endowment of assets, which serves as a source of liquidity to support ndau monetary policy. During market downturns, excess supply of ndau are taken out of circulation through both algorithmic mechanisms and by market makers, who buy back ndau at a dynamic floor price – similar to how central banks conduct open market operations, except more decentralized.
Robert Frasca, Managing Partner at Cosimo Ventures, said: “COSIMO Ventures is a team of highly experienced former entrepreneurs who invest in the tech space, and we currently focus on blockchain projects that have something really unique to offer. We surveyed the landscape of cryptocurrencies, and we invested in Oneiro because the ndau coin is leveraging blockchain technology to create a really groundbreaking buoyant currency. ndau challenges many of the assumptions held by current cryptocurrency thought leaders today, especially in the realms of digital governance and combining value growth with stability.”
The buoyant nature of ndau positions it as ideal for individual investors, institutions, and businesses alike looking to diversify into an asset that rewards long-term holding. In addition to ndau’s dynamic “guide rails” on price, further economic mechanisms automatically apply in every standard ndau blockchain transaction, providing a “buoyant” market force that dampen downside volatility and instead push upwards. The built-in incentives and economic structure of the ecosystem position ndau to better meet the needs of long-term crypto holders who want their investment to both mitigate volatility and appreciate in value.
For more information on ndau, please visit ndau.io.
ndau is a buoyant digital currency, built by Oneiro, to optimize for long-term store of value and which is supported by a decentralized ecosystem. Designed with built-in economic structures that incentivize both stability and potential for growth, ndau provides all the benefits of a digital currency while promoting more fair and accountable governance, dependability, and greater safety for owners not found in existing cryptocurrencies. Unlike stable coins, ndau is not pegged to fiat currencies or commodities, allowing for more desirable characteristics for long-term holders in particular. Please visit www.ndau.io for more information.
February 19, 2018
COSIMO Ventures Commits to $3 Million Seed Investment in Oneiro Ltd., a Blockchain and Cryptocurrency Innovation Technology Company
BOSTON & DUBLIN–COSIMO Ventures, an investment firm with offices in Boston and Dublin that’s focused on transforming promising deep technology companies into global industry leaders, is pleased to announce that it’s committed $3 million for a seed investment in Oneiro Ltd., a new developer of technology innovations in blockchain and cryptocurrency.
The investment is one of the largest for a cryptocurrency company established in the United Kingdom. Oneiro will have part of its core technology development team based in Dublin, and is establishing its operating headquarters in Boston. This trans-Atlantic strategy reflects COSIMO Ventures’ unique expertise in supporting collaboration and new-company growth between the UK/Ireland and the United States. COSIMO is committed to partnering with promising early stage deep technology companies in the blockchain and cryptocurrencies sectors, as well as in the artificial intelligence, Internet of Things (IoT), virtual reality, augmented reality, and big data industries.
“We believe that Oneiro will bring the potential of the cryptocurrency market into a completely new realm as the acceptance, and use, of digital currencies becomes more mainstream,” said Ciaran Hynes, Managing Partner at COSIMO Ventures. “We are impressed by the experience and forward thinking of the team at Oneiro. This is one of the most exciting projects we’ve seen, and we’re pleased to support them as part of COSIMO’s investment strategy to offer unique technology solutions for the commercial markets.”
Oneiro is focused on developing technologies around decentralized, secure, and dependable cryptocurrency. Blockchain technology has enabled the use and management of digital currencies worldwide, and Oneiro is positioning its technology to be an integral part of the market’s future.
“We’ve built a team of experienced professionals with a wealth of experience across many different segments and markets,” said Ken Lang, CTO of COSIMO. “Our innovations in the cryptocurrency space will leverage best practices and lessons learned from the markets.”
About COSIMO Ventures
COSIMO Ventures is an investment firm focused on transforming promising deep technology companies into global industry leaders. With offices in Boston, New York and Dublin, COSIMO Ventures invests in sectors including blockchain, cryptocurrencies, virtual reality (VR), augmented reality (AR) and the Internet of Things (IoT). The company also offers special expertise in working with promising Irish and UK early stage technology companies and supporting their global expansion. More information can be found at www.cosimoventures.com.
Oneiro Ltd. and Oneiro NA Inc., through its subsidiaries, is a blockchain technology firm focused on creating a global cryptocurrency designed and optimized for the long-term store of value.
Christine Dunn, 617-314-6441 x101