RAK Privé is a facilitator for the DPT (Desert Pearl token) migration process. This special purpose vehicle aims to communicate with all DPT holders to ensure a fully compliant and regulated migration process commences within a reasonable and specified amount of time. This website has been created specifically for the SAFIR/XERA/VOO community.
As a valued member of the SAFIR/XERA/VOO community, we are pleased to offer you the opportunity to migrate your DPT to the OTM.
As part of this migration journey, we are guided by the regulatory and compliance aspects of this very migration in the following areas.
The DPT was envisioned for the Desert Pearl project – without offering any wider benefit or access. The new OTM (OTM) is the “gateway utility token” to access all the future projects including Desert Pearl, Infinity, Solace and other client projects. We’ll announce some of the latest projects within the next few months!
Our community is critical to us on our long-term journey. When we list our token later this year, we’re targeting a list price of $1. When you migrate, your current OTM tokens will be valued with the pre-listing discounted price of about 0.33c (a 3:1 “migration rate”). There will be a 6-month lock and 36-month vesting schedule, which is to ensure proper liquidity management with the aim to avoid ‘pump and dump’ behaviour.
Please be aware that DPT will have no value once the migration facility has closed.
Follow these easy steps if you have not installed the ZENPASS WebOn:
Once you have opened the ZENPASS WebOn, follow these 8 steps to KYC:
NOTE: the Address verification is currently deactivated.
As a gentle reminder: we operate under the UAE regulatory regime, the compliance journey is critical to all future OTM token holders as there are checks in place for KYC and AML verification. Participants in the prohibited jurisdiction list will not be able to partake and will likely be unsuccessful in the verification process. (Please refer to the jurisdiction list in the FAQs section).
Updated date: 12 December 2024
As announced in December 2023, the current DPT token holders will need to migrate to the new compliant OTM.
Our community is critical to us on our long-term journey. When we list our token, we’re targeting a list price of $1. When you migrate, your current DPT tokens will be valued with the pre-listing discounted price of about 0.33c (a 3:1 “migration rate”). There will be a 6-month lock and 36-month vesting schedule, which is to allow for proper liquidity management with the aim to avoid ‘pump and dump’ behaviour. Once the migration is complete, the DPT will hold no value, therefore it is imperative that you do the migration.
The DPT was envisioned for Desert Pearl project – without offering any wider benefit or access. The new Otium (OTM) utility token is the “gateway utility token” to access all the future projects including Desert Pearl, Infinity, Solace and other client projects. We’ll announce some of the latest projects within the next few months!
There are 3 parts to the whole migration process:
The KMintings team have confirmed that the token distribution to smaller node holders should commence in the near term. You should be aware that we are unable to execute this ourselves and we cannot start the migration until KMintings has completed the blockchain based distribution.
We will not start the migration process until all tokens have been distributed and holders have the opportunity to migrate.
Please note: Please be aware that DPT may have no value once the migration facility has closed.
As we have mentioned, full node holders will have received their tokens and the partial node holders will be commencing in the near term.
KMintings is the platform to host minters. There are costs to operate and host the individuals’ minter. Find out more here: https://VOO1.info. More details to follow on the migration update in the near term.
We are planning to list the token in the near future and token holders will be notified either via the website, NOMO app messenger or via email.
Tokens will be ‘minted on demand’ as part of the migration process. We expect the process to run on a weekly cycle, depending on volumes.
The old DPT tokens will be sent to a burn address which as part of the minting process for the new OTM utility token. Once the DPT tokens are burnt, they cannot be ever used and we do not expect any remaining DPT to have any value.
We’ll explain in our communications, but it will be enabled in the NOMO wallet using the SWAP WebOn. Please wait until the tokens have been distributed to your KMintings Backoffice and from there you can transfer to your wallet before starting the process.
Under our new process, we plan for the token migration to be done via your NOMO wallet.
You will need to work out alternative strategies – we are only able to support community members who have passed our compliance checks. If we are unable to allow the migration, you can look at special offers from the VOO ecosystem.
An option would be to use your DPT tokens for a VOO.ONE “Lifetime Boost” (1 DPT = 1 Euro) and you are also able to purchase VOO minters at a discount by converting your DPT tokens to BFT tokens (1 DPT = 1 Euro) via the Get Benefit WebOn available in the NOMO wallet.
We also understand that VOO.ONE members don’t have to pay any fee in KMintings.
These steps are legally required.
Know your Customer (KYC) is a set of steps cryptocurrency exchanges take during onboarding to verify customer identity and perform due diligence to understand their financial activities and risks to ensure they comply with global regulations, including anti-money laundering (AML) and counter-terrorism financing laws.
Anti-Money Laundering (AML) covers the requirements for regulated exchanges to prevent criminals from performing transactions. The goal is to stop illicit funds from entering the legitimate financial system.
As part of the migration process, we will check ZENPASS data to confirm that members are compliant. ZENPASS can be found as a WebOn in the NOMO App. Once the WebOn has been added, follow the steps to KYC. We expect that our compliance checks will take a 3-4 days as it is a manual process.
Follow the steps below or refer back to the website or via the NOMO App messenger group called DPT Migration. You will be required to complete your ZENPASS information and that will be used for migration.
KYC/ZENPASS steps:
NOTE: the Address verification is currently deactivated.
Once the distributions begin, you’ll see your token allowance in your KMintings backoffice. We have been told it will take a month or so to complete the distributions to partial node holders.
We understand that paid membership does allow members to transfer tokens, but this is not controlled by us. There is no cost to do the actual migration, but there are costs associated with the KMintings platform. Please refer to https://VOO1.info for more information about membership fees.
You will likely need to consolidate those tokens going forward. Each OTM token holder will be checked via ZENPASS information during the migration.
The easiest path would be to send the tokens to another wallet held by an adult.
If you have multiple IDs (for example, for your whole family or a consortium of people all working together), then we suggest you consider some ways to simplify before doing our onboarding process/KYC:
You could:
The ‘Island Project’ comprises Desert Pearl and is the first planned real estate tokenization client project in the DDX Global pipeline. The project will be constructed in Dubai and the precise location is still being finalized.
We have worked through multiple options to acquire land and continue to execute our token strategy.
We raised funds and architecture and plans developed. We have spent months working on alternative funding and ways to acquire the land.
Token listing is complex, particularly if you don’t want your token to crash to 0.000001 within 24 hours. We are exercising extreme caution and ensuring liquidity management is executed timeously. We are required to show value and execute on our plan successfully. We could easily list but that would likely drive the token price to 0 .
We faced a number of unexpected challenges in 2024 and have been steadily resolving them. Our aim is to scale the business, reduce risk and stay compliant. We are aligned with you as our token holder community.
We still believe the 5 year trajectory will yield the best outcome for our token holders but we also know we need to deliver value along that journey. We’ll start that value add next year!
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We are working on a new strategy to acquire the land that will allow us to progress without waiting for all the regulatory and operational capabilities of tokenization to be ready in the UAE. We’ll keep you updated about progress as we move forward.
The DPT (Desert Pearl token) is not listed on any exchange and will not have a value other than the migration rate of 100 DPT = approximately 70 OTM. Once the migration has completed, the DPT will be sent to a burn address and thereafter will hold no value.
For regulatory reasons, we have not published the whitepaper. We are currently on version three.
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We are still working to bring the Desert Pearl project to market. We have indicated that this is a project that is likely to take years to complete as it is a major construction project. The land needs to be purchased, plans to be approved and simultaneously we require approval to issue security tokens based on the land.
An ecosystem-wide token ensures reduced dependency on projects. It also allows for use across a wider set of partners and in different timescales. The participant may receive value earlier and value from additional use cases.
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Our aim is to ensure that all participants follow the regulatory and compliance journey. We are guided by the relevant jurisdictions that may participate in the planned projects. Below is a list of countries that are currently prohibited from participating:
The migration from DPT to the new OTM token is the first stage, should you wish, to exit the community. This migration involves a token to token migration (DPT to OTM) and you would need to sell your OTM tokens. There will be different ways to do this and we will share more in future communications. Current options are planned as follows:
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