OZrealestates.com A Property Auction Platform for rewarding users.

DRAFT - White paper including Risks, Terms and Conditions for purchase of digital Tokens

This whitepaper is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities in OZrealestates.com or any related or associated company.

Prepared by KHAI KWAN at Level 11, 65 York St, Sydney 2000, Australia who is solely responsible for the content.

Dated 27.7.2017 (version 0.3)

Executive Summary

[1] Ozrealestates currently provides a plain automated online property auction to settlement (conducted by lawyers). It is not merely a listing vehicle such as domain.com.au because users can actually purchase the property online by bidding for it or buy directly under "buy now". Currently, most properties in Australia are sold via Agents or by “DIY” owner-vendors by listing on realestate.com.au or domain.com.au to drive interest. Such advertising costs from AUD 1000 – 3000 per month. On top of advertising services, agencies usually collect around 1-1.7% of the total value in commission upon sale; effectively the cost would be around AUD 15,000. Recently a UK agency decided to disrupt the market by introducing an unheard AUD 4,000 fixed agent fee. Unquestioned reliance on agents in general show vendors has little knowledge about how to sell their single most prize asset. This could be due to nervousness, or could not be bothered attitude rather than regulatory. There is no law that says one cannot sell one’s own property without a real estate license or agent. Our vision is to lower the barriers to sell a property using vendor-controlled auction technology and to make the process transparent by providing tools and services that make interacting, handling and conveyancing properties accessible to everyone at the cost of a general conveyance only.

[2] Ozrealestates (formerly known as Violater.com) is run by KHAI KWAN (Lawyers). It is currently offering services & products through a unified platform designed with the mainstream user in mind and by charging on-site advertisement and conveyancing (AUD 1000 for seller and AUD 1300 for purchaser, which is less than 10% what agents and online advertisers are raking). At OZrealestates.com both listing and auctioning on our platform are free. There is an option of fixed price sale (“buy now”) but this is subject to cooling off period. In Australia, there is no cooling off period for auctions.

[3] Our reason for offering digital Tokens (and you should read the Risk, Terms & Conditions at para 50-109 carefully) is to provide great features empowering knowledge and information to our users while giving them control over their own sale. These proposed features require digital Tokens which will be issued based on ERC 20 Standard (similar to ether on the Ethereum Network) as a form of payment. This way the entire transactions are taken care of by using “smart-contracts” which are auditable and traceable on said network.

[4] Our proposed features will focus on content (including curated content) by independent parties in the real estate market to attract more eye-balls and to validate or assist our vendors. Such assistance must be compensated or at least be rewarded. Due to the nature of continuing auctions, we will provide data-streaming where available on a subscription basis which can be paid using our proposed digital tokens (offered under the Terms and Conditions at para 50-109). We also want to introduce a reward system for users to predict the Forward Looking Price of the property sold by auction. Instead of irrational exuberance, we are also working to better estimate property prices (as opposed to mere valuation) using Artificial Intelligence (AI) where we take into account Willingness To Pay (‘WTP’) of potential buyer (based on locations) and the environmental factors. A full description is provided below pages 30-42 (collectively all these new features herein “Features”).

[5] Be that as it may, these Features are challenging, requiring time to research and resources to develop (it took me 3 years to code what you see today). For this reason, hired help is needed (even though they may not be as passionate as I am), I am procuring the use of digital Tokens (as prepaid instruments) to take advantage of their popularity now. As I am aware, one of most potentially transformative use-cases for Ethereum technology is the ability to create new crypto assets on the fly. Such assets (in the forms of digital Tokens) are increasingly becoming an alternative to traditional capital markets because they enable new models of participation, are borderless, can be traded around the clock, are subject to much less regulation, and are easy to create.

[6] As you may be aware, social interaction is a key part of the crypto world. Projects vide the many so called initial coin offerings (ICO) before us rise and fall by their acceptance in the community and the network they create. If there is interest to improve OZrealestates’ platform and to progress new features then we would expect contributors to take up our digital Tokens. Currently, as it stands, being a free listing and auction is both technically and financially challenging. With our proposed Features which will eventually mature to full independent offerings, and with 3rd party integration, we will be able to continue sustaining our free basic services for all by offering an alternative to those charging exorbitant fees.

[7] We are encouraged that with a token system and its social element, we will be able to use this to incentivize new users to provide services on our platform. Those who contribute their time toward producing and curating content for others are just as valuable as those who contribute their scarce cash in Tokens. This is the sweat equity principle. This play of content is well known in the property market but we also want to take it one step further by having contents from leading property investors. This will be a marketing channel for them to spread their knowledge and to attract followers (by subscription). It is also possible to “copy” their investment strategy and this could be another feature to offer when there is demand.

[8] At the time of writing, we have researched and tested application applying cryptoeconomics by implementing such system on TESTNET (Ropsten) which is equivalent to Ethereum network, having solved our requirements above. We have issued Tokens to ourselves and to others and now testing on the LIVE Ethereum network has begun.

[9] In addition, OZrealestates.com will be able to reduce the risk of fraud on behalf of the users, hidden fees and inability to proceed to settlement as the parties’ legal representative could not agree with the sale and purchase agreement which is a common where the agent may have over promise and under-deliver in black and white.

[10] One of the long term goals of OZrealestates.com which is partly highlighted below, apart from providing value added software and implementing proposed Features, is to contribute to online property certification including ownership tracing (ie issuance of verifiable Title Deed to prove ownership to prevent fakes or imposters claiming ownership). This is particularly important as Australia does not have any formal identification system (other than driver license or medicare or passport which are not verifiable by non government entities). Each transaction will be stored as TXN on an open BlockChain. Although this may be contrary to the Torrens System where Title is by Registration, we believe such a system has its benefit now in view of Blockchain (which was not available when Torrens invented his system). The one benefit Blockchain will bring is immutability based on historical record which is the core of the OLD Title Deed system.

[11] This whitepaper discusses design and implementation of such system from social and technological perspective on the high level: user’s roles and in their interactions, economic incentive mechanisms for the users, and the system components that express the logic of an all-in listing, auction and settlement system.

[12] IT IS MOST IMPORTANT TO READ THE TERMS OF THIS TOKEN OFFERING AS THEY APPEAR FROM PARA 50 to 109 WHICH MUST BE AGREED TO THE SAME UPON CLICKING TO BUY ON OUR WEBSITE.

1. Introduction

[13] Ozrealestates.com is an online auction website designed to automate the selling/buying and price discovery of a property. The property market in Australia generally uses agents to market and sale including auctions. It is costly, time consuming and emotionally draining (when there is a bidding war). While this hazard has been accepted as part of the process throughout the years, from a mechanism point of view, we are convinced that an automated means of doing the same is preferred from both economics and convenience particularly where the potential users are technological savvy. At least on these two points, our platform can run auctions 24/7 and is completely transparent. It would be impossible for any party (other than a rogue insider) to rig such electronic auction. By having online auction in real time using software, we have the widest possible audience who can participate at their convenience instead of the Auctioneer’s time. A good example is ebay.com.

[14] To avoid any conflict of interests as lawyers, we do not earn any commission for running these automated auctions and the vendor has complete control of pricing and how they want to list their own properties. The basic auction feature is free to use. Where our proposed Tokens will come into play is empowering the users to use them for Features that will assist them beyond the basic aesthetics; like to be listed on top of the listing page, to be bold or larger or to have video or more pictures or to add additional information. This aesthetics feature is commonly found in most platforms such as gumtree.com.au which the latter also charges.

[15] Having international reach, OZrealestates’ online auction provides a marketplace for property developers targeting a large number of potential overseas buyers where they can discover and purchased directly relying on our proposed data feed to make investment decisions. In the past the rule of thumb for development in Sydney, developers fixed prices that reflect their margin averaging 20% (all inclusive of interest costs), in good times this could be 30%.

[16] As we mentioned above, we provide not only an auction platform to discover the best price, we desire very much to provide predicative pricing mechanism where users can be rewarded if they are able to predict the sale price correctly and AI to gap the parties’ expectations (if any) . For example, we need to know how far a potential buyer will go (willingness to pay) when they bid.

[17] OZR – Ozrealestates’ digital token - is used as a reward system for incentivisation as well as a sub-currency which is used to purchase new feature services which we will implement from time to time. OZR token is a standard Ethereum ERC20 token.

1.1 Property Sale Transactions and the need for Tokens

[18] As a lawyer, I have seen my fair share of challenging transactions where deceit or misrepresentation of the “innocent” kind is common. In fact, it was only a few days ago where I was looking at a case where the vendor’s agent promised a rebate to the purchaser but after settlement, the vendor denied making such promise to contract. The agent who is paid his commission refused to answer calls and has sought legal advice. Now both parties are trying to negotiate. To avoid this, an online auction system without human/agent intervention would be preferred as machine can’t lie. There is no agent running any of these auctions and is open to all users just like posting on ebay. However, an auction system is merely a mechanical way to assist a sale; there is still a need for tools to enhance this offering for example to better attract higher bids and to promote the property (the look and feel). With this token sale, OZrealestates would be able to develop and include these Features as explained below.

[19] There is no doubt with electronic auctions, efficiency is improved, and they usually do so in one of two ways. First, auctions enable users to discover real prices for property as opposed to ‘indicative’ pricing and is far more efficient that face to face negotiation. Second, by having continuous auctions running back to back , this may allow markets to respond more quickly to changes in supply and demand which will assist would be Token contributors. Currently, we do not have a high enough frequency of auctions yet to provide such data feed. However, assuming we do have, tracking properties (in different areas and types such as commercial or residential) demand can be computed on an hourly and daily over the year. One could even observe sharp changes in supply, when a major strike is started leading to self-adjustments in its pricing (obviously up).

[20] One of the main disadvantages of online auction is that anyone with basic coding skills can create the same. There is no barrier to entry other than average skill. And to raise barrier, we saw it necessary to develop and include new features that could only be bought using our proposed Tokens. I am mindful of another effect known as “switching costs” that will limit users to a particular established market such as OZrealestates.com. When users need to invest in re-learning the online auction or other market protocols or integrating their software and systems or updating them to keep pace with their growing functionality, these users will be motivated to integrate most closely with existing tested systems leaders based on familiarity and experiences. Only by continuing to add features of value can OZrealestates.com motivate customers and invite future clients to keep their investments localized on our platform.

[21] It is these indisputable advantages of electronic markets that most strongly attract users and allow these markets to grow. The NSW government had stated that by 2019, all conveyancing and in particular settlement must be done electronically. To keep pace, there is a need to provide a higher level of services that must be paid for today in order to remain free for basic services.

[22] As in other businesses, OZrealestates will need to distinguish ourselves either by high volume and low costs or by offering services that others cannot easily copy like those stated above collectively known as “Features” herein.

1. Common Problems faced by users in the real property world.
   (In no particular order)

[23] Users have to pay hefty advertising costs to at least two of the well known web-sites often in thousands upon signing of sale agency contract with the real estate agents. These costs will be wasteful where a sale fails to materialize. Therefore there is a temptation to under advertised (by stating lower price) to get eye-balls and attempt to price it higher corresponding to rising interest. Such strategy puts buyers off.

[24] Users are locked in with a single real-estate agent although some have been able to negotiate non-exclusive terms.

[25] Users are often inexperienced in the world of real estate selling and rely on goodwill and honesty of an agent whom they have just met or introduced by a friend. While there are “rating” websites on agents, these are not so helpful and merely tools of self-promotion.

[26] Assuming there are fierce competitors for a property but who will get to buy the property ? This is often a difficult question where one is dependent on the real estate agent to be truthful about the competitive bids. By law, agents are also required to show the writing offerings to the sellers. The sellers make the final call. In practice, it is more like which party is able to incentivize the agent more.

[27] Where there is a huge gap between buy and sell prices, agents are in a conflicting position as they have to make sure the deal can be closed by downplaying the selling price and up-playing the buying price until they are met between the parties or simply down playing the sale price as this has proven to be most effective. As the agent makes a percentage of the total value, there is incremental gain by an extra $20,000 or $30,000 as compared to going to the next deal. However, this $20,000 is a bonus to the vendor.

[28] Agents are not valuer but are often the first to give an indicative selling price when asked. Vendors are usually in the dark about property valuation other than to get engage a valuer. Now this may be an issue for the would be seller but it is also an issue for the potential buyer as it is normal for the buyer’s bank to want to value the property too before deciding how much it could lend. It is very challenging to get the financing appraised too. Not having any idea of the value (pre-sale) is a big issue to be tackled for both seller and buyer.

[29] Another side effect is where sellers who over priced their property resulting in no interest will also see no interest when the price is lowered as buyers will think there is something wrong and would only show interest when it is below the fair market value.

1. Services where our Tokens will be applicable.

A. Predictive Prices.
[30] It is common for most sellers to ask the first and most important question and that is “what is the price I can fetch from my property”. Unfortunately, there is no easy answer or way to predict future prices or even current market value as it depends on market expectations, supply and demand and even the odd buyers. Some may even argue, it would depend on the skill of the human auctioneer to draw participants to bid on a level that may be distressing to some etc.

(Historical Data & Artificial Intelligence)
[31] One of the Features that we will be providing is a “suggested” price based on past selling prices (historical) on the said property and quantifying the increase/decrease of prices of nearby property that have been sold recently using AI. For example applying various artificial intelligence techniques have been described so by Dr. N. B. Chaphalkar and Sayali Sandbhor in their article Use of Artificial Intelligence in Real Property Valuation in International Journal of Engineering and Technology (IJET) Vol 5 No 3 Jun-Jul 2013 Page 2334. (Web version: http://www.enggjournals.com/ijet/docs/IJET13-05-03-087.pdf) .

[32] Another approach which we preferred is the one taken in A Neural Network based Model for Real Estate Price Estimation Considering Environmental Quality of Property Location by Vincenza Chiarazzoa, Leonardo Caggiania, Mario Marinellia and Michele Ottomanellia as published in Transportation Research Procedia 3 ( 2014 ) 810 – 817 (Web version is at http://ac.els-cdn.com/S2352146514002300/1-s2.0-S2352146514002300-main.pdf?_tid=6e584220-6e98-11e7-ba1c-00000aacb361&acdnat=1500698842_27699895ca8207cbf137c406e285adbb)

[33] Our model will take into account tastes (ie type of property), budget sensitivity and environmental conditions that may be related to cities like Sydney or Melbourne where pollution and landscaping consequences affect the real estate market and residential location choices. In addition, we will also consider “Willingness To Pay” factor as a controlling determinant. For example, we are aware who the bidders are as they are registered with us. We have already verified their identities on our system prior to bidding. Knowing this we would be able to tell how much they are willing to pay and see how far (if any) the gap with Forward Looking Prices (- see below) or expected market value (based on historical data using AI). We can also gather more information like the user’s current residential area or exploiting data from the Taxation Office cross-referencing with census data, to estimate the income range these users. For example, we know certain suburbs have a high density of single status users with income above AUD 120K but still unable to purchase within their suburb. With this knowledge, we would be able to tell if the user’s bid is genuine or just ‘testing’ the market. We will produce a range instead of a precise figure for each age group based on their purchasing power to inform the vendor.

(Forward Looking Price volunteered by User)
[34] After the property has been listed for auction and available to the general public online, we also allow Token contributors to predict how much the property will eventually be sold by spending their tokens (putting their money where their mouth is) known as “Forward Looking Price” feature. The winner (closest to the actual price at the end of auction) will receive a reward (TBA). In this way we also have a forward looking mechanism by collectively taking into account users’ input which may help the vendor to adjust or even offer a BUY NOW PRICE together with an auction process.

B. Media/Curators/Content Providers

[35] OZrealestates realizes that to deliver rich media content, in multiple forms is a challenge as it depends on third parties such as real estate agents or their associates. In so far as users, this may be a challenge as they may not be familiar with the technology to “beautify” their offerings (say a common one is fish-eye making the property looks larger). There is also the issue of technological format. To resolve this, we are currently providing the basic tools to upload digital photographs or video by the users, however there will be an option for the users to invite other providers to assist them. Such providers can advertise by submitting their content on OZrealestates and their services will be paid using our proposed Tokens. Otherwise, they can also curate content and those that really stand out (as voted by other users) will also receive extra Tokens from OZrealestates as a way to encourage more content.

[36] In addition, to encourage community building and social interaction on OZrealestates’ platform, we want to combine concepts from social media with lessons learned from building cryptocurrencies and their communities. I personally believe rewarding users for their efforts in curating or providing content to inspire participation and most importantly to learn from each other. Such method must evoke a fair accounting system that consistently reflects each person's contribution. Ozrealestates will be offering Tokens that attempts to accurately and transparently reward an unbounded number of individuals.

[37] Most users would appreciate rich media means that multiple media formats need to be used. Photos are still the most common, but now it is very strategic to combine them with videos, 3D-tours, floorplans etc. Currently, OZrealestates is still looking into new ways to showcase the vendor’s listed property. For example software that will automate the uploaded pictures into a virtual tour (of a digital constructed home) and ways for content providers (such as Professional Kitchen Designer software) to suggest improvements such as custom kitchen by overlaying on the digital constructed house online or at a click change the colour of the walls or to add furniture etc. It is preferably this software can also calculate the enhanced value while taking into account the costs of such transformation. In short, we want to create features that combine decoration and renovation at the same time for the more ambitious users and reflect them in terms of cost and appreciated value. For example by informing the user that by adding Design A (display Design A looks like), cost will be $ 20,000 but this will improve the property value by another $ 70,000. This feature will suit OFF THE PLAN development as compared to existing properties.

C. Data Feeds

[38] These data feeds are absolutely crucial to understanding how property market works. Ozrealestates will create data feeds that monitor our property market auctions together with Forward Looking Prices provided by users as a proxy for property trends. A classic example of utility here would be watching the auctions for off the plan property. Buyers and sellers will be able to use information like this to fine tune their own transactions.

[39] Most developers and investors are looking for an information edge and are willing to pay for that edge. The size of the mainstream property data market — which is an unknown— is born from this desire. Ozrealestates.com is the first platform to serve this need in real time by being able to generate data in one place. And with the proposed Features, we are envisioning providing a dashboard based on analytics captured where it should be able to provide a top down view of the results on the market as shown below showing trends in real time (sample only see below).
.
[40] Newcomer investors lack both the skills and the information to make confident decisions. Our heat-map can instantly show where properties are being sold and where they are being sought using data feeds, and there will be others delivered these streams directly to our subscriber users (using Tokens). As long as we control the data feeds, we control the knowledge.

[41] By making our information available to start, we will put our information in front of our target market as soon as the first streams are mature. These streams will also be available on our mobile app, so that target buyers can find and study market trends anytime, anywhere. As time passes we will add more and more relevant data feeds so that the value of the service grows.

D. Verifiable Title Deeds (Good to Have)

[42] As I stated above, this is one of the long term projects that I want to implement to better serve OZrealestates’ clients by making use of BlockChain technology. Even though we rely on mostly digital documents everyday, in reality we would very much prefer paper or physical documentations as evidence of ownership. For example, I own Bitcoins but I actually stored them off-line by writing down their password/codes on a paper format stored in my safety box. Similarly, the Banks would be keeping a copy of your Title Deed with them which has been extracted from the Land Office. The Title Deed is often an important document but from time to time, we are aware that this may be stolen or faked for reasons best known to them. So there is a need to be able to determine whether an article is genuine when presented particularly when we are unable to prove our identity records easily. For this purpose, we will ask user to use one of our Token which’s identifier will be printed on the document readable by machine only (like QR Code) and this is linked to a password or something that is known only to the user. Upon presentation, the machine will scan for the identifier and the linked element (usually a password) to prove the bearer’s ownership. Once this is done, the Token is BURN and another Token is needed to ensure no Token can be reused. This is described in US Patent 7,742,996 which is invented by the author here. This is not the same as proposals where the Title Deed is stored on the BlockChain or designed to challenge the records at the Land Title Office.

1. Proposed Token System

[43] OZrealestates internal token called OZR is a ERC20 token (similar to the one seen in Metamask on the TEST-NET known as Ropsten as pictured). It is used as on-site currency for all the Features’ contract integrated with the protocol for example to power Content/Forward Looking Price reward system etc. On-site currency and a reward system are complimentary. We can assume that a reward system that allows people to collect tokens provides a better incentive mechanism than a purely reputational points system for content creation and forward looking pricing.

[44] Keys to the OZR can be stored in any Ethereum client or a paper wallet. It is not recommended to store a large amount of OZR in a browser, even though as a subcurrency it might be less prone to theft than widespread and more well known crypto-token such as Ether or BTC.

4.1 Onsite currency

[45] Using Ethereum based sub-currency instead of ether reduces the risk of attacks after it scales. If the Ethereum system is compromised by a malicious actor, the Token will become worthless, so attacking the system wouldn’t be a rational thing to do for anyone wanting to hijack and use these Tokens.
4.2 Reward system

[46] As described above all the participants contributing to the ecosystem in one form or another are automatically rewarded with OZR to their accounts. A percentage of the funds raised will be used to implement, test and release the Reward Distribution Contract 1.0 – for content and curated content first before going for the Forward Looking Price. This will be followed by AI research and DataFeeds. The others (as mentioned above) will follow once we have further traction using the Tokens as payment as opposed to a reward.

4.3 Further developments

[47] After said Features are implemented and tested the final project should shift towards providing a Blockchain solution for verifiable Title Deeds (using our Tokens which by that time would have an appreciated price) and making the overall eco-system more appealing to users as an “insurance” that their Title Deed is verifiable on presentation.

4.4 Team Members

[48] Ozrealestates.com as it is today was created by Chris Kwan who is also the author of this document. Chris Kwan is an Inventor, Lawyer and Coder had previously created his own digital coin “KWAN” and is familiar with cryptocurrency. He is assisted by a number of co-founders/contractors/employees.

His linkedin profile is found https://www.linkedin.com/in/khkwan/

1. Conclusion

[49] We believe that having these new Features and related use cases for Ethereum will develop OZrealestates into a sustainable ecosystem - a backbone that caters for all aspects of property conveyancing. As the Blockchain industry expands, the number and value of crypto coins will increase in proportionate to the services offered, the market and demand for our Token- will also grow. In general because crypto markets are borderless, open 24/7, subject to minimal regulatory control, and offer huge potentials for growth, we have chosen this method to make an offering which also represents an incredible, new opportunity for users or investors over traditional markets (such as ordinary shares). Moreover, unlike other offerings which have merely an idea waiting to be implemented, OZrealestates is already a functioning platform and only looking to add further Features for the benefit of its users in preparing content and improving price predictability (in the first stage).

1. Risks and Terms & Conditions

[50] The following Terms & Conditions (“Terms”) govern the sale of the cryptographic token — OZrealestates Token (“OZR”) — to purchasers of OZR (“Purchasers” collectively, and “Purchaser” individually) and is an integral part of this Whitepaper. Purchaser must understand the Risks below and agreeable to the Terms as explained herein. Please note that OZR is not being offered or distributed to U.S. persons. If you are citizen, resident of, or a person located or domiciled in, the United States of America including its states, territories or the District of Columbia or any entity, including, without limitation, any corporation or partnership created or organized in or under the laws of the United States of America, any state or territory thereof please do not purchase or attempt to purchase OZR.

[51] The OZrealestates’ current auction & settlement platform was developed by Chris Kwan. For the purposes of adding new Features and to see continuing development in user promoted content and predictive pricing under a more formalized contracting or employment relationship which must necessarily involve money as opposed to passion, and to realize such development, OZrealestates is proposing to issue OZRs as Tokens to pay for said Features.

[52] As stated on its cover, this Whitepaper is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction. Participation in this sale will not provide Purchaser with a “security” or “equity” stake in OZrealestates or its controlling entity. The ownership of OZR Tokens is a reward based return and not intended to be any form of loan based return. The digital token known as “OZR” is only useful for identifying Purchaser’s contribution to this sale and to be used exclusively for Features and services on Ozrealestates which are subject to terms and conditions at the material time. If these proposed Features are successfully implemented, owners of OZR tokens will be able to use said Features and/or even ETH in acknowledgement of their support.

[53] This Section also describes the associate risks involved with OZrealestates’ Token sale in which the cryptographic token with symbol “OZR” is sold, as well as the initial creation of OZR. Parties may be interested in purchasing OZR (the token) in the OZrealestates Token sale to support the development of the OZrealestates’ Features. Such parties, individuals, businesses should carefully weigh the risks, costs, and benefits of acquiring this Token.

IMPORTANT
(No Ownership Rights)

[54] Ownership of OZR carries no rights expressed or implied. Purchases of OZR are nonrefundable and non-exchangeable. Purchasers should have no expectation of influence over governance of said Features or the OZrealestates’ platform AT ALL.

[55] By participating as a Purchaser in the sale of OZR, Purchaser acknowledges and represents that Purchaser has carefully reviewed this Terms and fully understand the risks, costs, and benefits of purchasing OZR and agrees to be bound by these Terms. As set forth further below, Purchaser further represents and warrants that, to the extent permitted by law, Purchaser is authorised to purchase OZR in Purchaser’s relevant jurisdiction, are of a legal age to be bound by these Terms, and will not hold OZrealestates, its parent and affiliates, and the officers, directors, agents, joint ventures, employees, developers, volunteers and suppliers of OZrealestates or our parent or affiliates, now or in the future and any other member of the OZrealestates’ Team (collectively all people who contribute to the OZrealestates’ platform herein ‘Team’) liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to the sale of OZR.

WARNING: DO NOT PURCHASE OZR IF YOU ARE NOT AN EXPERT IN DEALING WITH CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS

[56] Purchases of OZR should be undertaken only by individuals, entities, or companies that have significant experience with, and understanding of, the usage and intricacies of cryptographic tokens, like bitcoin (BTC), and blockchain-based software systems. While the OZrealestates’ Team will provide general guidelines for user usage and storage of OZR before the OZrealestates’ features becomes operational, Purchasers should have functional understanding of storage and transmission mechanisms associated with other cryptographic tokens. While the OZrealestates’ Team will be available to assist Purchasers of OZR during and after the sale, OZrealestates will not be responsible for lost ETH or OZR resulting from actions taken by, or omitted by Purchasers.

[57] Note, in particular, that OZR Purchasers should take great care to write down their wallet password and not lose it so as to be sure that they will be able to access their OZR. If you do not have such experience or expertise, then you SHOULD NOT purchase OZR.

WARNING: CRYPTOGRAPHIC TOKENS OF VALUE MAY EXPERIENCE EXTREME VOLATILITY IN PRICING

[58] Cryptographic tokens that possess value in public markets, such as BTC, have demonstrated extreme fluctuations in price over short periods of time on a regular basis. A Purchaser of OZR should be prepared to expect similar fluctuations, both down (to zero) and up, in the price of OZR denominated in ETH or United States dollars (“USD”) or Australian Dollar (“AUD”) or other fiat money of other jurisdictions. Such fluctuations are due to market forces and represent changes in the balance of supply and demand. OZrealestates cannot and does not guarantee market liquidity for OZR and therefore there may be periods of time in which OZR is difficult to buy or sell or at very large spread which may result in losses.

[59] Additionally, due to different regulations in different jurisdictions and the inability of citizens of certain countries to open accounts at exchanges located anywhere in the world, the liquidity of OZR may be markedly different in different countries and this would likely be reflected in significant price discrepancies. Please understand that the Features are not even developed and that the market for these OZR will be very shallow and thus will be harder to buy and sell these tokens without effecting the price on the market.

[60] By purchasing OZR, Purchaser expressly acknowledges and represents that Purchaser fully understand that OZR may experience volatility in pricing and will not seek to hold OZrealestates’ Team liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected to the sale of OZR.

WARNING: THE PURCHASE OF OZR HAS MANY RISKS

[61] The purchase of OZR carries with it a number of risks. Prior to purchasing OZR, Purchaser should carefully consider the risks listed below and, to the extent necessary, consult an independent lawyer, accountant, or tax professional. If any of the following risks are unacceptable, Purchaser should not purchase OZR. This is particularly true for those purchasing with their retirement or savings. By purchasing OZR, and to the extent permitted by law, Purchaser agrees not to hold OZrealestates’ Team liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of OZR, including losses associated with the risks set forth below. NOTE following list of risk is not exhaustive and Purchaser must not rely on them only.

RISK

6.1. Obligation to Determine If Purchaser Can Purchase OZR in Purchaser’s Jurisdiction

[62] The OZrealestates’ Token sale constitutes the sale of a legal software product under Australian law. This product sale is conducted by OZrealestates, which is controlled by KHAI KWAN, an Australian entity, operating under Australian law having its address at Level 11, 65 York St, Sydney, Australia. It is the responsibility of each potential Purchaser of OZR to determine if the Purchaser can legally purchase OZR in the Purchaser’s jurisdiction. We cannot offer this to US Citizens as stated in para [50] above.

6.2. Acceptance of Terms and Conditions of the OZR Sale

[63] As a first step in the purchase process, OZrealestates will present the Purchaser with these Terms, and any other associated documents (if any), and that Purchaser is not a citizen of United States of America along with checkboxes on our website to click. By clicking yes checking the boxes, the Purchaser: (i) consents and agrees to this Terms; (ii) represents and warrants that the Purchaser is legally permitted to purchase OZR in the Purchaser’s jurisdiction and is legally permitted to receive products of Australia origin (iii) represents and warrants that the Purchaser is of a sufficient age to legally purchase OZR or has received permission from a legal guardian who has reviewed and agreed to these Terms; (iv) represents and warrants that the Purchaser will take sole responsibility for any restrictions and risks associated with the purchase of OZR as set forth below; (v) represents and warrants that Purchaser is not exchanging Ether (ETH) for OZR for the purpose of speculative investment; (vi) represents and warrants that the Purchaser is acquiring OZR for supporting the development of said Features on an existing platform, or to facilitate development, testing, deployment and operation of decentralised applications on the Ethereum Platform; and (vii) represents and warrants that the Purchaser has an understanding of the usage and intricacies of cryptographic tokens, like Ether or BTC, and blockchain-based software systems.

6.3. Independent Confirmation of Purchases

[64] During the purchase process on the https://www.OZrealestates.com website, OZrealestates will provide Purchasers with a unique intermediary ETH address. Using this address, Purchasers can track and confirm that the Purchaser’s ETH has been received at that address.

[65] Knowledge of the unique intermediary ETH address does not constitute a purchase receipt or indicate in any way that any party possessing such knowledge has rights to or ownership of the purchased OZR.

[66] Transmission of ETH to said ETH address or any address provided (save for a fraudulent address which is beyond the control of OZrealestates) does not constitute a purchase until the Purchaser’s ETH had been confirmed on the network.

6.4. Loss of the Purchase Password Will Cause the Loss of the Purchased OZR

[67] As part of the purchase process, and in order to purchase OZR, the Purchaser will need to provide an ETH address. The Purchaser ETH address will be used to send the OZR token to. The Purchaser ETH address will store the purchased OZR.

[68] Purchaser must keep the Purchase ETH address Password safe and not share it in any way or with anybody and OZrealestates will never ask for this. The Purchaser’s ETH address Password is essential for accessing the Purchaser’s OZR. Purchaser’s loss of the Purchaser’s ETH address Password will cause the loss of the purchased OZR. Unauthorised access by any party to a Purchaser’s ETH address Password along with access to the Ethereum wallet, will enable that unauthorized party to access the purchased OZR and the OZR will be lost.

[69] By purchasing OZR, and to the extent permitted by applicable law, the Purchaser agrees not to hold any of the OZrealestates’ Team liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to, Purchaser’s failure to properly secure and keep private the Purchaser’s ETH address Password and/or the Purchaser’s Ethereum wallet.

6.5. OZR Will Only Be Available For Sale on the OZrealestates Website

[70] OZrealestates will only sell OZR through the OZrealestates website, available at https://www.OZrealestates.com. To the extent that any third-party website or service offers OZR for sale during the OZrealestates Token sale or facilitates the sale or transfer of OZR in any way during the OZrealestates Token sale, such third-party websites or services are NOT sanctioned by OZrealestates or its parents and affiliates and have no relationship in any way with the OZrealestates’ Team. As a result, OZrealestates prohibits the use of these third-party websites or services for the purchase of OZR prior to the end of the OZrealestates Token sale.

[71] Purchasers should take great care to ensure that the URL of your web browser indicates that it is using a hypertext transport protocol secure connection (“https”) and that the domain name is correct. By purchasing OZR, and to the extent permitted by applicable law, the Purchaser agrees not hold any of the OZrealestates Team liable for losses incurred by any person, entity, corporation, or group individuals or groups who uses a third party service to purchase OZR.

[72] The only official and authorised OZR sale website URL is on https://www.OZrealestates.com

6.6. Fraudulent Attempts to Double Spend ETH

[73] OZrealestates will monitor all potential transactions for fraudulent attempts to double spend ETH. Any detected double spend of ETH will result in no OZR being transferred to the associated wallet address.

6.7. OZrealestates Will Not Purchase OZR During Token Sale

[74] OZrealestates warrants that it or related entities will not purchase OZR in its own sale. Furthermore OZrealestates warrants that it will not purchase OZR from any third party, or acquire OZR in any manner, or acquire future control of OZR, during and up to one year after the period of the OZrealestates Token Sale.

6.8. Certain Risks Associated with the Purchase of OZR

[75] The purchase of OZR carries with it significant risk. Prior to purchasing OZR, the Purchaser should carefully consider the below risks and, to the extent necessary, consult an independent lawyer, accountant, and/or tax professionals prior to determining whether to purchase OZR.

6.8.1 Risk of Dissolution of The OZrealestates Due To a Diminishment in the Value of the ETH Sale Revenue

[76] All Purchasers are paying ETH to purchase OZR. In the past few months the price of ETH in USD, AUD and EUR have NOT been relatively stable. It is possible that the value of ETH will drop significantly in the near future, depriving OZrealestates of sufficient resources to continue to operate. In order to guard against this risk, OZrealestates intends to periodically convert proceeds from the sale of OZR into fiat currencies instead of maintaining ETH. In order to cover the initial startup costs, OZrealestates will convert 2000 Ether to fiat after a successful Token sale.

6.8.2 Risk of Unauthorised Access to a Wallet (We need to repeat again)
[77] Any third party that gains access to the Purchaser’s Ethereum wallet and potentially access the wallet by deciphering or cracking the Purchaser’s password. To guard against any improper access to Purchaser’s wallet, the Purchaser should select a highly secure Purchase Password for the Purchaser’s OZR wallet. Purchaser must take care not to respond to any inquiry regarding their purchase of OZR, including but not limited to, email requests purportedly coming from the OZrealestates.com or similar looking domain.

6.8.3 Risk of Regulatory Action in One or More Jurisdictions
[78] Cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies and has been long known to facilitate as the criminal currency in the dark web. The OZrealestates’ Features and OZR could be impacted by one or more regulatory inquiries or regulatory action, which could impede or limit the ability OZrealestates to continue to develop the Features and its underlying platform.

6.8.4 Risk of Insufficient Interest in the OZrealestates’ features and platform
[79] It is possible that the OZrealestates’ Features will not be used by a large number of external businesses, individuals, and other organizations and that there will be limited public interest in support via our platform. Such a lack of interest could impact the development of the OZrealestates’ Features & platform. OZrealestates will contract with developers to help build the OZrealestates’ Features and is working with other third-party developers around the world to create an interest in the OZrealestates’ platform. However, it cannot guarantee or predict the success of its own development efforts or the efforts of other third parties.

6.8.5 Risk Associated With the Development of Other “Similar” Platforms like OZrealestates
[80] OZrealestates is first to offer a complete real estate solution from listing, auction to settlement all in one site. It is foreseeable other organisations, companies, and groups, attempting to build a similar platform. While OZrealestates anticipates being the first in time, competition from these alternative platforms may impact success of the OZrealestates’ Features/project and even the ability of OZrealestates to operate.

6.8.6 Risk that the OZrealestates Platform, As Developed, Will Not Meet the Expectations of Purchaser
[81] The Purchaser recognizes that the OZrealestates’ Features are presently being developed may undergo significant changes before release. Purchaser acknowledges that any expectations regarding the form and functionality of the OZrealestates’ Features held by the Purchaser may not be met upon release, for any number of reasons including a change in the design and implementation plans and execution of the implementation of the OZrealestates’ features which may limit the functionality of the overall platform.

6.8.7 Risk that the OZrealestates Platform May Never be Completed or Released
[82] Purchaser understands, that while the OZrealestates’ Team will make reasonable efforts to complete the OZrealestates’ Features, it is possible that an official completed version may not be released and there may never be any operational Features.

6.8.8 Risk of Theft
[83] Hackers or other groups or organizations may attempt to steal the ETH revenue from the OZrealestates’ Token Sale, thus potentially impacting the ability of OZrealestates to develop the Features & underlying platform or to operate OZrealestates as a whole. To account for this risk, OZrealestates has and will continue to implement comprehensive security precautions to safeguard the ETH obtained from the sale of OZR and obviously the platform too.

6.8.9 Risk of Weaknesses or Exploitable Breakthroughs in the Field of Cryptography
[84] Over time advances in code cracking, or technical advances such as the development of quantum computers, could present risks to cryptocurrencies and the OZrealestates’s OZR, which could result in the theft or loss of ETH or OZR. To the extent possible, OZrealestates intends to update the protocol underlying the OZrealestates’ protocol to account for any advances in cryptography and to incorporate additional security measures, but cannot it cannot predict the future of cryptography or the success of any future security updates.

6.8.10 Risk of Ether Mining Attacks
[85] As with other cryptocurrencies, any features relied on the Ethereum network will be susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, etc. Any successful attacks present a high risk to the OZrealestates’ Features, expected proper execution and sequencing of ETH transactions, and expected proper execution and sequencing of contract computations.

6.8.11 Risk of Rapid Adoption and Insufficiency of Computational Application Processing Power on the OZrealestates’ Network
[86] If the OZrealestates’ platform is rapidly adopted, the demand for transaction processing could rise dramatically and at a pace that exceeds the supporting rate. Under such a scenario, the entire OZrealestates’ platform could become unstable and OZrealestates’ proposed Features will fail.

6.9. All Purchases of OZrealestates tokens (OZR) Are NonRefundable

[87] ALL PURCHASES OF OZR TOKENS ARE FINAL. PURCHASES OF OZR ARE NONREFUNDABLE. BY PURCHASING OZR, THE PURCHASER ACKNOWLEDGES THAT NEITHER OZREALESTATES NOR ANY OTHER OF THE OZREALESTATES’ TEAM ARE REQUIRED TO PROVIDE A REFUND FOR ANY REASON, AND THAT THE PURCHASER WILL NOT RECEIVE MONEY OR OTHER COMPENSATION FOR ANY OZR. ONCE THE PURCHASER RECEIVES HIS OR HER OZR TOKENS AFTER THE SALE, THEY ARE FREE TO SEND OR SELL THEM TO ANYONE OF THEIR CHOICE.

6.10 Taxation of OZR token and Taxation Related to the OZrealestates Token sale

[88] OZrealestates makes no representations concerning the tax implications of the sale of OZR or the possession or use of OZR. The Purchaser bears the sole responsibility to determine if the purchase of OZR with ETH or the potential appreciation or depreciation in the value of OZR over time has tax implications for the Purchaser in the Purchaser’s home jurisdiction.
[89] Purchasing OZR, and to the extent permitted by law, the Purchaser agrees not hold any of the OZrealestates’ Team liable for any tax liability associated with or arising from the purchase of OZR.

6.11. Privacy

[90] Although OZrealestates requires that Purchasers provide an Ethereum address, to the extent permitted by the law, OZrealestates will not publish any identifying information related to an OZR purchase, without the prior written consent of the Purchaser.

[91] Purchasers may be contacted by email by OZrealestates regarding a purchase. Such emails will be informational only. OZrealestates will not request any information from Purchasers in an email.

6.12 Disclaimer of Warranties

[92] THE PURCHASER EXPRESSLY AGREES THAT THE PURCHASER IS PURCHASING OZR AT THE PURCHASER’S SOLE RISK AND THAT OZR IS PROVIDED ON AN “AS IS” BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE OR IMPLIED WARRANTIES, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE (EXCEPT ONLY TO THE EXTENT PROHIBITED UNDER APPLICABLE LAW WITH ANY LEGALLY REQUIRED WARRANTY PERIOD TO THE SHORTER OF FOURTEEN DAYS FROM FIRST USE OR THE MINIMUM PERIOD REQUIRED). WITHOUT LIMITING THE FOREGOING, NONE OF THE OZREALESTATES’ TEAM WARRANTS THAT THE PROCESS FOR PURCHASING OZR WILL BE UNINTERRUPTED OR ERROR-FREE.

6.13. Limitations Waiver of Liability

[93] THE PURCHASER ACKNOWLEDGES AND AGREES THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, THE DISCLAIMERS OF LIABILITY CONTAINED HEREIN APPLY TO ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO USE OF, OR INABILITY TO USE, OZR OR THE OZREALESTATES’ FEATURES OR PLATFORM UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY KIND IN ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT (INCLUDING NEGLIGENCE) AND THAT NONE OF THE OZREALESTATES’ TEAM SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA, IN ANY WAY WHATSOEVER ARISING OUT OF THE USE OF, OR INABILITY TO USE, OR PURCHASE OF, OR INABILITY TO PURCHASE, OZR.

[94] THE PURCHASER FURTHER SPECIFICALLY ACKNOWLEDGES THAT OZREALESTATES’ TEAM ARE NOT LIABLE, AND THE PURCHASER AGREES NOT TO SEEK TO HOLD ANY OF THE OZREALESTATES’ TEAM LIABLE, FOR THE CONDUCT OF THIRD PARTIES, INCLUDING OTHER PURCHASERS OF OZR, AND THAT THE RISK OF PURCHASING AND USING OZR RESTS ENTIRELY WITH THE PURCHASER .

[95] TO THE EXTENT PERMISSIBLE UNDER APPLICABLE LAWS, UNDER NO CIRCUMSTANCES WILL ANY OF THE OZREALESTATES’ TEAM BE LIABLE TO ANY PURCHASER FOR MORE THAN THE AMOUNT THE PURCHASER HAVE PAID TO OZREALESTATES FOR THE PURCHASE OF OZR WHERE IT HAS BEEN ADJUDGED TO BE OZREALESTATES’ FAULT.

[96] SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES. THEREFORE, SOME OF THE ABOVE LIMITATIONS IN THIS SECTION AND ELSEWHERE IN THE TERMS MAY NOT APPLY TO PURCHASER AFFECTED. IN PARTICULAR, NOTHING IN THESE TERMS SHALL AFFECT THE STATUTORY RIGHTS OF ANY PURCHASER OR EXCLUDE INJURY ARISIN FROM ANY WILFUL MISCONDUCT OR FRAUD OF OZREALESTATES.

6.14. Dispute Resolution

[97] All disputes, controversies or claims arising out of, relating to, or in connection with the Terms, the breach thereof, or OZrealestates’ sale of OZR including any question regarding the validity or termination of these Terms, shall be resolved by arbitration in accordance with the Australian Centre for International Commercial Arbitration (‘ACICA’) Arbitration Rules. The seat of arbitration shall be Sydney, Australia. The language of the arbitration shall be English.

[98] In deciding the merits of the dispute, the tribunal shall apply the laws of Australia and any discovery shall be limited and shall not involve any depositions or any other examinations outside of a formal hearing. The tribunal shall NOT assume the powers of amiable compositor. In the final award, the tribunal shall fix the costs of the arbitration and decide which of the parties shall bear such costs in what proportion justifiably guided by sound reasons.

[99] Every award shall be binding on the parties. The parties undertake to carry out the award without delay and waive their right to any form of recourse against the award in so far as such waiver can validly be made.

6.15. Force Majeure

[100] OZrealestates is not liable for failure to perform solely caused by: unavoidable casualty, delays in delivery of materials, embargoes, government orders, acts of civil or military authorities, acts by common carriers, emergency conditions (including weather conditions) incompatible with safety or good quality workmanship, or any similar unforeseen event that renders performance commercially implausible including unprovoked attacks on the cryptocurrencies and its own networks. If an event of force majeure occurs, the party injured by the other’s inability to perform may elect to suspend the Terms, in whole or part, for the duration of the force majeure circumstances. The party experiencing the force majeure circumstances shall cooperate with and assist the injured party in all reasonable ways to minimise the impact of force majeure on the injured party.

6.16. Complete Agreement

[101] These Terms sets forth the entire understanding between each Purchaser and OZrealestates with respect to the purchase and sale of OZR. For facts relating to the sale and purchase of OZR, the Purchaser agrees to rely only on this Terms in determining purchase decisions and understands that this Terms govern the sale of OZR and supersede any public statements about the OZrealestates’ Token sale made by third parties or by OZrealestates’ Team or individuals associated, past and present and during the OZrealestates Token sale.

6.17. Severability

[102] The Purchaser and OZrealestates agree that if any portion of these Terms is found illegal or unenforceable, in whole or in part, the Terms will be ineffective solely to the extent of such determination of invalidity without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.

6.18. No Waiver

[103] The failure of OZrealestates to require or enforce strict performance by the Purchaser of any provision of these Terms or OZrealestates’ failure to exercise any right under these agreements shall not be construed as a waiver or relinquishment of OZrealestates’ right to assert or rely upon any such provision or right in that or any other instance.

[104] Any express waiver by OZrealestates of any provision, condition, or requirement of the Terms shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement.

[105] Except as expressly and specifically set forth in this these Terms, no representations, statements, consents, waivers, or other acts or omissions by OZrealestates shall be deemed a modification of these Terms nor be legally binding, unless documented in physical writing, hand signed by the Purchaser and a duly appointed officer, employee, or agent of OZrealestates.

6.19. Updates to the Terms & Conditions of the OZrealestates’ Token sale

[106] OZrealestates reserves the right, at its sole discretion, to change, modify, add, or remove portions of these Terms at any time during the sale by posting the amended Terms on the OZrealestates website (https://www.OZrealestates.com). Any Purchaser will be deemed to have accepted such changes by clicking through purchasing OZR and shall be bounded.

[107] Saved for the above, the Terms including amended Terms may not be otherwise amended except in a signed writing executed by both the Purchaser and OZrealestates. For purposes of this agreement, “writing” does not include an e-mail message and a signature does not include an electronic signature.

[108] If at any point Purchaser does not agree to any portion of the then-current version of the Terms (or as amended), Purchaser SHALL not purchase OZR.

6.20. Further Information & Notices
[109] For further information regarding this Token sale or OZR sale and Terms, please contact admin@ozrealestates.com and all notices should be sent to KHAI KWAN, LEVEL 11, 65 YORK ST, SYDNEY 2000, NSW, AUSTRALIA.

THIS WHITEPAPER AND TERMS ABOVE ARE AUTHORISED BY KHAI KWAN, PRINCIPAL LAWYER AND CONTROLLER OF OZREALESTATES.COM BY AFFIXING HIS SEAL BELOW.

// seal//

1. Summary of Token Sale

Start: Aug 29th, 2017 at 1:00 pm GMT
Ending: in 28 days or when the Maximum cap is reached
Only ETH accepted
Minimum cap: No
Maximum cap: 8,000 ETH
Token name: OZR

A. The first day will be power day. At this day the price for OZR token will be 200 per 1ETH. Then the rate will change:
1st day 200 OZR = 1 Ether
Day 2-15 180 OZR = 1 Ether
Day 16-18 170 OZR = 1 Ether
Day 19-21 160 OZR = 1 Ether
Day 22-24 150 OZR = 1 Ether
Day 25-27 140 OZR = 1 Ether

B. Contribution will be capped at $ USD 2,000,000 equivalent in Ether. Due to recent Ether's volatility, cap calculated in Ether will be announced on the day of token launch. No more OZR will be issued after token sale period is over.

C. There is NO Pre Sale Private Offering.

D. OZrealestates’ token (OZR) distribution/allocation
70/10/10/10 distribution: 70% will go to the Purchasers, 10% to the legal entity (OzRealestates), 10% rewards/bounties (for content and looking forward price), and 10% to the founders and early contributors who HAD OR HAVE worked on OZrealestates. Founders and early contributors will all have vesting.

E. Founder vesting
Vesting is necessary, with no exceptions. It ensures, that founders would not cheat. Our main goal is to add said Features. That's why vesting is our way to show responsibility to all of our contributors. Founders and early contributors will have 2 years vesting with 6 months cliff. This means we will mature 25% of our tokens each 6 months.

F. Funds management
Funds raised in ether will be managed by a board made up of co-Founders. The funds after converted will be held in a Trust Account (with a legal firm to be decided) used for the following :

60% - Research & Development
20% - Operation (including payments to co-founders & early contributors)
15% - Marketing
5% - Legal