Ticker: OPQ

Token Supply: 130M

Fork Details: 1 OPQ provided for all wallets holding 1 PRL as of Block #6607247. The fork will be executed by end of day Friday (11/9)

Website

Twitter

Reddit

Telegram

Project Transparency

While we believe Opacity is a great brand for what our platform ultimately does, our team was to operate with as little opacity as possible moving forward and be completely transparent with the community to rebuild trust and continue marching forward. This will mean more team visibility, more community involvement and, most important, regular updates in regards to budgeting and financial health

In an effort to provide the community with additional transparency and foster further trust in light of the events of last week, we have decided to make an effort to provide full details of our cash burn to help everyone understand where we are spending funds

Historical/Projected Budget by Month (in $USD)

Non-Headcount Costs

This includes all of our operational expenses not related to headcount. This includes:

Hosting Expense

Third-Party Software Expense

Rent Expense

General Business Supplies

Legal Fees

Professional Fees

Marketing/PR Fees

Exchange-Related Fees

As you can see, this cost trended in the low $20k range in August and September. This cost was reduced significantly in October as we drastically reduced our AWS cost as we ended duplicative/redundant hosting instances. This cost base should continue to be in the low $10k range moving forward.

Headcount Costs

This includes all headcount-related costs. The Opacity team headcount is broken out as such:

Management: 3

Engineering/R&D: 9

Product/Marketing: 1

Community Management: 4

In November and December, the management team will be taking no salary. The rest of the team will either be taking no or significantly reduced salaries through the end of the year. At this time, we will re-evaluate the project’s financial situation and re-evaluate the expense situation at that point in time.

Use of Proceeds from OPQ Fork

As mentioned above, the token supply for OPQ will be 130 million. The total supply of PRL at the time of the snapshot was approximately ~103 million. The additional tokens will be utilized as follows:

Operations/Salaries: 20 million OPQ

Current/Future Employee Token Grants: 5 million OPQ (vesting over 12–18 months)

Additional Token Reserve: 2 million OPQ

Next Steps

After executing the fork of PRL, the team plans to continue doing what we have always done: build. While this situation has forced a temporary slow-down on the development front, we plan to pick-up where we left off and start immediately.

In terms of the exchanges we are listing on, trading was paused at our request on PRL and SHL pairings on 10/29. We are in active discussions with each exchange and will be providing additional details around re-listing initiatives as they become available. Our goal is to bring liquidity back to our community as soon as possible.

In term of SHL, we are being advised to avoid combining PRL and SHL into one token for legal reasons. As such, we will be doing a fork on SHL to a new token once this initial fork has been completed. More details to come soon.