Frequently
Asked Questions
General
Questions
When do you expect Stage 1 of the launch to end?
A set date is not determined yet, as we have a specific number of launch members we’d like to signup before we move into our next stage. Ideally, we hope to complete Stage 1 by fall of 2025.
Do I need to decide what membership level I want when signing up and what will the price be?
During Stage 1 and after you receive an invitation to join, you will not need to decide which membership level at signup as it is free. We will be working on these items in more detail in the coming months, and we have not yet determined prices yet. We want launch membership prices to be as low as possible for our members and to meet our needs.
If I signup in Stage 1, am I required to become a paid member in the future?
Absolutely not, joining is voluntary and so is paying your future membership. You would however forego any benefits from your signup including your earlier signup date, referrals, and member rating.
Member Rating
Questions
A higher member rating will also provide opportunity for additional discounts for travel purchases, and to be used for rewarding members based on the success of the company. These rewards can be used for additional future travel purchases by the member. If additional token offerings would be necessary, OYT may likely offer them to existing members before the general public, and the rating system may be used for determining future allocations and pricing.
While any individual could theoretically refer themselves using a second (or more) email address, our referral app includes anti-fraud detection to reduce and identify this behavior. Individuals found to be spamming additional accounts may have their account locked and signup date and referrals forfeited in their entirety. Actual referrals are only counted if they convert to paid members with a membership prior to ICO (which could be costly for spammers to get the benefit). If an individual desires to increase their allocation or access to the ICO, it is recommended to signup and share with your friends as soon as possible, in addition to signing up for the Elite membership for unrestricted access which allows members to purchase coins/tokens above your allocation.
Member ratings are fixed for the ICO and first year after launch. After that, member ratings adjust based on a number of factors including original signup date and actual purchases made.
At this time, a final formula to calculate member rating and allocation has not yet been determined. Much is to be analyzed depending on the final quantity of members and referral spread. Our approach is that in the end, the formula is fair to all members in line with our objectives and vision of OYT.
While there is a possibility the new cryptocurrency could be used for daily, retail transactions for travel, more crypto based infrastructure and acceptance is needed for all crypto before OYT commits to this deployment. Initially, the new cryptocurrency will be used for our rewards program benefits to our members and allowed to be traded by the public.
We anticipate our new cryptocurrency to be either issued through the creation of a new blockchain, or a new digital token issued on an established, existing blockchain protocol such as Ethereum. At this time in Stage 1 of our launch it is currently undecided if our new reward token will be a utility or non-fungible token.
At this time, we believe so but there may be factors involved through the ICO process which may change that.