EXOS & ExO Economy
Please find below a list of Questions and Answers on EXOS and the ExO Economy.
Why did you create EXOS?
Our network of service providers and experts is truly global. We have more than 7,700 members in over 130 countries. This diverse network comes together to work with clients all over the world. We wanted to create a simple solution to a number of problems that our network and ecosystem face, such as: How do you easily and quickly facilitate payments for services between thousands of people across dozens of countries? How do you facilitate more valuable peer-to-peer interactions amongst network members? How can you align incentives through a global co-op structure? EXOS allows the community to easily transact with each other and do the work of transformation, and we hope EXOS becomes the “token of transformation” in the future.
As a member of the OpenExO community, what can I do concretely with EXOS?
There are endless ways to use EXOS as they can be used as a means of exchange in peer-to-peer crypto currency transactions. Additionally, you can buy training from OpenExO and The Growth Institute, you can post opportunities in the marketplace for EXOS and you can stake the network and earn EXOS. More ways to use your EXOS are being added in partnership with some amazing organizations.
Why should I buy EXOS now?
First, we are offering our community members a bonus now until we hit the community phase hard raise cap. And, every single dollar that comes in gets used to help build OpenExO. So, it’s a great way to support the building of our economy system to help us establish our own means of exchange on the global market. This is not something any network like ours has ever had before the advent of blockchain and crypto. Previously this was reserved for nation-states, cities, and extremely wealthy individuals. That’s not true anymore. Finally, you can use EXOS today the OpenExO marketplace, and you can also hold some EXOS and use them later.
How do I transfer from the EXOS-Electrum to the EXOS- Core Wallet
The EXOS-Core wallet is the Wallet of choice and allows you to stake your EXOS and be a part of the OpenExO Economy. To download the EXOS-Core Wallet click here. Once it is downloaded you can then click on Wallet and receive, copy the receive address. In your Electrum wallet click on send and paste the address, you can then send over your EXOS to the core wallet.
How do I transfer from the EXOS-QT Wallet to the EXOS- Core Wallet
The EXOS-Core wallet is the Wallet of choice and allows you to stake your EXOS and be a part of the OpenExO Economy. To download the EXOS-Core Wallet click here. Please note that you cannot have the QT wallet open when installing the Core wallet as they use the same node. Once the Core Wallet is downloaded you can then click on Wallet and receive, copy the receive address. You then need to close the Core wallet completely. Open your QT wallet click on send and paste the address, you can then send over your EXOS to the core wallet. Close the QT wallet and open the Core wallet, you can then start staking
How can I mine exos? How can I turn my mining rig or node toward the network?
Our blockchain is public and permissionless. You don’t need a mining rig. You simply need the EXOS-Core wallet and some EXOS. We are a proof of stake blockchain. Not a proof of work blockchain. Therefore, while there is mining, it does not depend on excessive computational power or energy. You just need to install an EXOS-Core wallet, go to the wallet tab, enter your wallet password under the staking section and clock unlock and you are now a staking node on the network. To see all the nodes that are staking hear over to the Heat Map.
How can I acquire EXOS?
here are multiple ways: You can buy them on exos.openexo.com, unlock them through quizzes on the portal, and earn them for referrals through the Learn & Earn program which is also on the portal (minus embargoed places and people). You can join the Doubling Challenge. You can also earn them by accepting Advisory calls or giving Master Classes or providing other services which are paid partially or wholly in EXOS.
How do I buy EXOS?
You can buy EXOS via the portal, www.exos.openexo.com, with BTC, ETH, or wire transfer in USD.
Can I use our OpenExO platform username on the EXOS Portal?
No, you need to set up a new username and password.
Are there any examples of people or companies using EXOS?
OpenExO uses EXOS in its certification programmes as well as for certain project posted inside the community marketplace. During Consultant certification OpenExO is sponsoring one advisory call per participant by a mix of USD and EXOS. Applying for these opportunities is a way to earn EXOS in exchange for your knowledge and experience (please note you need to have done a free ExO Foundations certification to be eligible to apply). On the Sprint Coach certification, OpenExO gives a set allocation of EXOS to every participant to allocate for additional training which is then requested via the marketplace. In the past, OpenExO has also used EXOS to finance certain projects important for evolution of the platform and tools provided to the community.
FluidChains works with consultants and developers located in many different countries around the world. Many of these people have been and continue to be compensated in EXOS. These people are strong believers in the ExO Economy.
The Growth Institute runs a training program for people who want to build an ExO and offer a limited number of seats payable in EXOS. Currently the course costs $2,790 and The Growth Institute accepts EXOS at a 1:1 ratio to the US dollar. The EXOS flow through the program as consultants and coaches who are involved in the program receive some compensation in EXOS.
Can I use EXOS to pay for the services rendered by ExO advisors and consultants?
Advisors and consultants can accept EXOS for their services, and we have enabled project compensation to be listed in EXOS on the OpenExO platform.
With whom can I exchanges EXOS for consulting services?
You can exchange on a Peer-to-Peer basis. You do it between each other and no one can stop you. What you choose to trade for EXOS is 100% your choice.
How can advisors and consultants exchange their EXOS for other currencies and services?
We are not aware of any markets in which EXOS can currently be exchanged for other currencies. Advisors and consultants may exchange their EXOS in our—or any participating—marketplace for the services of other consultants and advisors who accept EXOS.
You can use EXOS to pay each other in a peer-to-peer way with no middle-person. Or you can leverage the OpenExO Platform and Marketplace to tap into the abundance of incredible humans that are part of the OpenExO Community. The platform connects. The marketplace is one way to transact. Over time, there will be others.
Can I pay for certification courses offered by OpenExO using EXOS?
We regularly make a portion of the available seats on our certification programmes payable in EXOS. Please email firstname.lastname@example.org mentioning which course you would like to take and that you want to pay in EXOS and the certification team will be in touch.
Outside of OpenExO how do you see EXOS being used? Specifically, if a public offer is made?
EXOS are already being used outside of OpenExO. The term outside/inside becomes more fluid every month. One way to think of EXOS is as an interface to the underlying utility that is the full capability of the OpenExO community.
When the tokens go on sale to the general public (minus embargoed places and people), we expect some of them will use EXOS to procure services from members of the community via the OpenExO Platform’s marketplace or on a peer to peer basis. Some may choose to HODL a certain amount. We prefer that EXOS be used.
How much are EXOS expected to be worth tomorrow, next year, etc?
There is no way to answer this question in a direct way. EXOS and the entire EXOS blockchain, community, network, and ecosystem will be worth what we make of it over time.
How was the value of the EXOS token determined?
It’s currently determined by private marketplace transactions. Nothing more, nothing less. In the future, the public marketplace may have a say.
Can I exchange EXOS into Fiat (e.g. € or $)?
It’s possible to exchange EXOS for fiat (or other crypto tokens) in private transactions. OpenExO is not a bank nor is it an exchange, and is not involved in executing these transactions.
When will EXOS be listed on an exchange...and on what exchange?
We cannot provide any dates for a listing or commit to a public listing, even though this is part of our current plan. Generally, exchange listings and financial market liquidity are not a focus until after a public sale and distribution of the majority of a token. Currently, we plan to look for the right partners for liquidity after the public sale. This does not imply any date for a token listing, and we cannot make any predictions or promises about this. Generally, the ability of a token to be listed on an exchange is improved by a successful private and public sale that show demand for the tokens. Having said that we can let you know that we are currently working with Novum Insights to list a wrapped EXOS on Uniswap in the near future.
Can I buy EXOS if I live in the U.S.? I heard the U.S. is on an “embargoed” country list? What countries are on this list?
Tokens are subject to different regulations in different countries. Currently, we have been advised that the following countries are restricted from sales of EXOS tokens. This rule applies to: (i) individuals residing in those countries; (ii) individuals who are citizens of those countries; and (iii) entities formed in those countries. This information is contained in the documents that you will find on the EXOS token portal. As rules that apply to EXOS change, we will update the list of excluded countries.
- Bosnia and Herzegovina
- Central African Republic
- Democratic People’s Republic of Korea (i.e. North Korea)
- Democratic Republic of Congo
- People’s Republic of China
- South Korea
- South Sudan
- Sudan and Darfur
- United States of America
What does the future look like for countries on the “Embargoed” list?
As rules that apply to EXOS change, we will update the list of excluded countries. While we cannot predict the future of this list, some countries (including places subject to widespread banking restrictions) are likely to remain on this list long term, while other countries may may migrate off of the list.
How can I unlock the “Learn and Earn” section if I already created a profile without using the code “Transform”?
Please let us know by emailing us at email@example.com, and we’ll apply the Transform code to your account retroactively.
How are you handling KYC (Know Your Customer) and AML (Anti Money Laundering)?
KYC and AML are being handled through the token portal at exos.openexo.com. You will be asked to submit supporting documents before purchasing EXOS.
Are EXOS a security?
You said that EXOS and the ExO Economy were built from scratch. Blockchain from scratch sounds really bold and complex undertaking. Did you follow the design principles from one of the existing PoS blockchains like Cosmos, EOS, Straits, etc., or did you start with a white paper?
The ExO Community was built from scratch. The ExO Economy is created from that communities economic activities around the world. The EXOS blockchain was built from a long lineage of wonderful work noted below. The EXOS token is the native digital asset of the ExO Economy. However, we stand on the shoulders of giants. Our lineage goes all the way back to BTC:
- Copyright © 2009-2014 The Bitcoin developers
- Copyright © 2011-2012 The PPCoin developers
- Copyright © 2013-2014 The NovaCoin developers
- Copyright © 2014-2015 The Blackcoin developers
- Copyright © 2016-2017 The Stratis developers
- Copyright © 2018-2019 The OpenExO and ExO Economy developers
Can I use CoinBase to stock my EXOS?
Coinbase does not yet support EXOS.
What is the link to the EXOS blockchain explorer?
Can someone create a wallet anonymously?
Download and install the EXOS-Core wallet from here: https://github.com/exoeconomy/EXOS-Core. ALWAYS and only download your wallets and nodes from the GitHub repository.
Are EXOS interoperable with other tokens, from other blockchains, like with ERC20?
Not yet, the code base comes from Bitcoin, not Ethereum—the code is written in C# mostly pegs, and interoperability will come just not yet. As stated above the team is currently working on a Wrapped EXOS that is on the Ethereum Blockchain. This is to allow for listing on Uniswap in a wEXOS/ETH pair. More information will be shared about this in the future.
What is the future, or ultimate vision, for the ExO Economy?
The ExO Economy is effectively a technology. It is an exponential technology that economically binds the core OpenExO community and connects them to the world in a unique way for a community of our kind. In fact, we do not believe this has ever been done before in this way. The ExO Economy is a globally distributed community of 1000s of individuals collectively working together with their own tokens acting as a compliment to other crypto and national fiat currencies. The ExO Economy is, in many ways, a global co-operative because it is supported and sustained by all its members that own EXOS tokens. If they use those tokens to stake the network, then they help process financial transactions on behalf of their own global economy. If they pay each other with EXOS, they are transacting in their own global currency. The future or ultimate vision is that everyone actively participates in and helps grow the ExO Economy, helps each other grow, and leverages the powerful technologies of cryptographic tokens and blockchains to transform the world for a better future. We are only limited by our imaginations and what we refer to as our limiting “immune system responses.”