Loci Launches Token Sale for InnVenn Platform

Loci, the company known for their DIY patent research platform, InnVenn, has launched their public token sale.

InnVenn is a user-friendly search tool that sorts patent keywords into a Venn diagram. Applying for a patent requires the inventor to search through all relevant patents before submitting their own. They can either do this themselves or pay an attorney astronomical fees to do it for them. Most startups don’t have the funds to pay an attorney, but InnVenn is available at a fraction of the cost.

The token sale will allow the public to to purchase LOCIcoin, Loci’s native token. LOCIcoin will be used to power the Loci ecosystem. LOCIcoin can be used to pay InnVenn’s monthly subscription fees, stake claims on the blockchain, and place bids on IP. LOCIcoin is also used for the buying and selling of IP.

Funds from the sale will be used for marketing and operations, security and auditing, legal affairs and advocacy and intellectual property services. 50 Million of the total 100M LOCIcoin pre-mined will be available to the public. The remaining will be used to purchase IP pools and support the non-profit fund. The token sale is hard capped at 19 Million USD.

Loci recently participated in a voluntary smart contract audit that received a favorable report. The auditor, a previous ConsenSys employee, Dave Hoover, recorded that, “smart contract security, particularly reentracy, was clearly at the top of the authors’ minds during the development of these contracts.” No major bugs were detected and minor suggestions have already been implemented into Loci’s code. The smart contracts are expected to operate as intended, providing a secure token environment.

The first two days of the token sale is reserved for whitelist registrants. Round two registration begins the 7th (7pm EST).

For more information, visit the Loci website or view their whitepaper.

For media inquiries, please contact Jesse Lucas at Melrose PR Jesse(at)melrosepr(dot)com or call (310) 260-7901.

Note: The only way to get the sale address is via the Loci dashboard at https://sale.locipro.com. Loci will never email or direct message addresses to anyone. If you visit our website, please confirm the website is either http://www.loci.io or http://www.locipro.com. Anything outside of these websites is not affiliated with Loci at…

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