The total IEO application amount of Japan Open Chain exceeds 9 billion yen, far exceeding the planned sales amount

Author: Japan Blockchain Foundation

Compile: DeepTech TechFlow

The Japan Open Chain (JOC) Alliance, operated by the Japan Blockchain Fund Foundation Co., Ltd. (CEO: Hidekazu Kondo, hereinafter referred to as "the Company"), announced that the initial exchange offering (IEO) of the "Japan Open Chain Token (JOC)" led by BitTrade Inc. (CEO: Lei Xiang, hereinafter referred to as "BitTrade") has been successfully completed. The total application amount for this IEO exceeded 9 billion yen, far exceeding the originally planned sales amount of 1.2 billion yen, and all tokens were successfully sold out.

The total planned sales for this IEO are 1.2 billion yen, including a priority early bird sale (540 million yen) and a regular lottery sale (720 million yen). However, the actual application amount far exceeded expectations, totaling over 9 billion yen. Even after deducting the unpaid and canceled orders, the final confirmed application amount still significantly exceeded the target. In the end, the 1.2 billion yen worth of tokens were all sold out at the end of the IEO.

The regular lottery sales will end at 11 p.m. on December 17, 2024 (Tuesday), and the lottery results will be announced starting from December 18. Users participating in the regular lottery sales will receive notifications one after another. The Japanese Open Chain Token (JOC) is scheduled to be officially launched for trading at 12 p.m. on December 23, 2024 (Monday). At that time, it can be traded on BitTrade Exchange and multiple exchanges worldwide.

Schedule may be adjusted.

About the JOC token (also known as "JOC Coin")

JOC Token (Japan Open Chain Token) is a cryptocurrency used to pay for fees on the Japan Open Chain blockchain. Japan Open Chain is a blockchain project that complies with Japanese laws and is operated by trusted entities. Its goal is to make Web3 technology more widely accessible through high-speed, low-cost blockchain services. The project aims to address global social issues by providing instant transfer fees of less than 1 yen and enhancing asset liquidity through NFTs.

Official website:

Whitepaper:

To ensure market liquidity after the IEO, JOC tokens are planned to be listed on multiple global exchanges simultaneously (on the same day or around the same time), which is a first in Japan. Starting from December 23, 2024, not only Japanese investors, but also global users will be able to purchase JOC tokens.

"Japan Open Chain" - A blockchain originated from Japan

Japan OpenChain is a public blockchain compatible with Ethereum (Layer 1), jointly operated by multiple Japanese companies. The project collaborates with industry-leading companies and Web3 innovators to provide a secure, efficient, and low-cost blockchain infrastructure for global users. Through bank-led stablecoin projects and the digitization of assets such as NFTs, Japan OpenChain is actively building the future financial infrastructure and promoting the transformation of global digital finance.

Currently, the blockchain is jointly operated by 14 validators (blockchain operational partners), including CORGEAR Co.Ltd., a startup under the Sony group, Dentsu Inc., NTT Communications of the NTT Group, G.U.Technologies, Inc., insprout Corporation, Kudasai Co., Ltd., Minna Bank, Ltd., pixiv Inc., TIS Inc., extra mile Inc. under the Asahi Television Group, Kyoto University of Art and Design, Hatena Co., Ltd., CAC Corporation, and CYBERLINKS CO.,LTD. The entire blockchain is managed in a decentralized manner, and there are plans to expand to 21 validators in the future to further enhance the stability and security of the network.