Olympus DAO brings quite a new aspect to Decentralized Finance as well as stable coins. if you look at it just as a Platform, you will find no difference. But, the things behind the working of Olympus DAO holds huge potential to impact the DeFi ecosystem.
Olympus DAO Clone
Olympus DAO Clone Script is an alternative source code of DeFi based exchange olympus DAO, programmed to work just as olympus DAO. With this finely developed clone script, one can build a DeFi instantly with tight security protocols. Bitdeal being the proficient company in the domain provides acute DeFi Development services on any specified Blockchain networks.
Specifications of Olympus DAO Clone
- Blockchain Network: Any preferred Network
- Version: Version 1.0
- Additional APIs: All Prime APIs (custom)
Features Of Olympus Clone
- Crypto Wallet Integration
- Liquidity Pools
The above listed are our prime features embedded in our script, but not limited to. we integrate additional features and functionalities based upon clients requirements.
Olympus DAO Fork
Consider blockchain network, whenever the community changes the set of protocol or certain rules, the primary chain of the blockchain splits into two chain and the newly splited secondary chain is called fork. The fork chain holds all the data from the first transaction of the blockchain. Generally it is classified as soft fork and hard fork. Soft fork does not bring much changes to the blockchain, We can compare it as a software upgrade where as hard fork is consider as the new version of blockchain.
Eight Popular Forks Of Olympus DAO
- Wonderland (TIME)
- Klima DAO (KLIMA)
- Rome DAO (ROME)
- Snowbank (SB)
- Hector DAO (HEC)
- Spartacus (SPA)
- Invictus (IN)
- TaiChi DAO (TAC)
Olympus DAO - The Glimpse
Olympus DAO is a DeFi based blockchain project released in the month of February 2021 by an anonymous person named Zeus.
It comes with the unique approach for its native token, OHM .most of the stable coins are backed by USD but the dollar is under the control of US territory. Olympus DAO wants to come out of all the boundaries and make its token value that backs its own treasary.
The Architecture Behind Olympus DAO
The Architecture is designed to keep the price of OHM Token in accordance with the liquidity pool and to provide incentives to the investors in accurate proportion.
Bonding Mechanism: This mechanism lets the platform to acquire its own Liquidity
Stacking: OHM Token Stacking provides rewards for protocol users
Managed Treasury Protocol: Its a prime protocol which holds all the assets in the protocol
Protocol owned liquidity: Which is actually the amount of Liquidity Provider the treasury earned and controlled. The more in POL, the good for the users and protocol.
How Olympus DAO sharpened the DeFi Ecosystem?
Business people think the unique approach of Olympus DAO would make a huge impact in the DeFi ecosystem, there are two solid reasons behind these statements
1.Liquidity Owned, Not Rented
When we have a look at other Defi Platforms like Pancakeswap, Uniswap, etc, they ultimately depend upon their users to fund liquidity pools and they need to reward the users more than they give to let them stay in the platform. There is no assurance of the stable sustanied liquidity there but in Olympus DAO, the platform owns all the assets in the liquidity protocol, not rented. they provide collateral amount of OHM tokens to all the investors so the platform is not depended on their traders in any concerned and the liquidity is promised.
2. OHM Token Backed with its own liquidity.
The Native token of Olympus DAO is OHM Token, they have stated it is not a stable coin which is backed with its liquidity protocol. The price of the token spontaneously increases with the raise in the liquidity of the platform. The liquidity is actually owned by the platform, it acts as a free token and the market decides its value.
OHM - Tokenomics
- The Price of one OHM - $62.35 (At the time of writing)
- Total supply - 10,706,607
- The Circulating supply - 9,793,039
Some more information about OHM,
OHM is not a stable coin which is Backed by algorithmic reserve currency of digital assets.The Value of OHM can fall back and forth as a gold, It is designed in a way that the crypto market decides the value of token.
The Deal for Great Gains - (3,3) (1,1)
The deal (3,3) and (1,1) is the unique deal with Olympus DAO derived by game theory which is designed with the context to provide great revenue for everyone. The user can take three actions.
- Staking (+2)
- Bonding (+1)
- Selling (-2)
The platform states that staking and bonding is a kind of benefiary act for the platform, while selling is a deflation act. The investor needs to buy OHM token to participate in staking.
Source: Olympus DAO
Consider two doers,
- If two stakes, the action is good for the user and protocol (3+3 = 6 ).
- If one stake and another person bonds, the value would form like this (3+1 = 4).
- When the scenario when one sells and the other stakes or bonds, the result would be
- (1-1 = 0)
- when both sells, the action is stated as not good for the protocol and user (-3-3 = -6)
How Starting a Platform like Olympus DAO Benefits You ?
Olympus DAO has set a new trend and adopted a new ideology. obviously, many more cryptopreneurs would have frame business plans to start a platform like olympus DAO and the structure of OHM token is quite attractive and more likely to grab investors towards it, thus by starting a DeFi based exchange like Olympus DAO, you will get a wide range of traders and investors for your platform and the ROI will be promising. You won’t regret at any stage for starting a platform like this.
The early, you get into the business, the earlier you will succeed.
Who We Are ?
Bitdeal, leading DeFi Development Company, provides top-notch defi services for potential clients. Being a keen observer in a crypto market, we are never afraid to adopt and build new technologies and business modes. Thus there is no wonder that the new features and functionalities of Olympus DAO attracts us. Our strong team has taken all kinds of research and developed the script for budding cryptopreneurs.
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