A new draft white paper from OKX Europe Limited has been released, detailing a crypto-asset named ALLO, associated with the Allora Network, a decentralized artificial intelligence protocol. The white paper is crafted in compliance with European regulations governing crypto-assets. The key objective of the document is to provide pertinent information regarding the ALLO token and its upcoming inclusion on the trading platform of OKX Europe.
Overview of the Offering
The draft states that the ALLO token functions as a utility and governance asset within the Allora Network, allowing participation in network governance, staking for network security, and payment for AI-based services. Notably, the utility token’s value is not guaranteed, and it may be non-transferable or illiquid, making it essential for potential investors to grasp the risks surrounding the investment.
The white paper emphasizes that the ALLO token is operational on multiple blockchains, including Ethereum, BNB Smart Chain, and the native Allora Network built with the Cosmos SDK. The project allows users to engage with various services, such as AI model inference and validation.
Risk Considerations
Substantial sections of the draft are dedicated to outlining the associated risks. This includes service interruptions, operational challenges faced by the issuer, market volatility, and potential computational failures associated with blockchain performance. Users are cautioned that unforeseen risks may also emerge, affecting the project and its token.
Issuer and Offeror Details
While OKX Europe Limited acts as the offeror, the issuer—an entity named Upshot Technologies, Inc., operating under the brand Allora Labs—has been noted for its specialization in decentralized AI technologies. The white paper underscores that Allora Labs intends to promote and develop the functionality of the Allora Network through a transparent framework and community governance model.
Token Characteristics and Future Milestones
The draft signifies that total ALLO token supply is capped at 1,000,000,000, with specific allocations for various stakeholders, including backers and community members. It mentions the project’s roadmap detailing past achievements and anticipated future goals, such as expanding the network of AI service providers and launching governance features.
Environmental Impact & Sustainability
The document also addresses the environmental considerations linked to its consensus mechanisms, which underpin the operation of the ALLO token across different networks. It acknowledges the energy consumption implications inherent to the blockchain technologies it employs.
Conclusion
In concluding, the draft white paper aims to promote informed decision-making by providing vital insights into the ALLO token’s functionality, associated rights, and obligations. It emphasizes that stakeholders should consider the entire document, rather than excerpts alone, before proceeding with any financial engagements.
The final version and the commencement date for public trading of the ALLO token remain forthcoming, with the document marking an important step for regulatory compliance as the project gears up for its official launch on regulated exchanges.
