Recapitulation of Olympus Inu PROJECT AMA event held at AMA LOVERS CLUB.
Date: Wednesday, 17th November, 2021
Time: 19:00 UTC
The Olympus Inu PROJECT team was represented by @Gaiauranus and @Ohm_inu_dev who judiciously shared with us detailed knowledge and information about Olympus Inu PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on Olympus Inu?
Our team consists of 3 core members (including myself), 3 moderators, 1 content creator and additionally 2 developers (1 react/nodejs developer, 1 designer with a lot of knowledge of html/css)
Q2: Can you introduce Olympus Inu, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: So, Olympus Inu is a decentralized, autonomous procurement platform and is designed to maximize its intrinsic value by its treasury of OHM and other reserve currencies.
As we did not have a presale, we rely on the 12% taxations system. The majority of these proceeds is directed towards OHM purchasing.
From the start I was fascinated with OHM and its protocol and had early on a feeling they could disrupt the crypto space. Also I was in love with some MEME coins.
The decision was made to bring those 2 worlds together.
Holding OHMINU you are getting steadily standard reflection fees and are getting bi-monthly wsOHM airdrops accumulated by the treasury.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Our biggest Milestone to Date was the first distribution of wsOHM rewards to our holders.
Those wsOHM rewards were airdropped on Avalanche, with some extra AVAX native coins so our holders that are using first time AVAX blockchain could easily start trading.
With our first distribution we have deployed also our first version of our dashboard that can be accessed on our website: https://olympus-inu.com, where users can see the state of treasury and rewards that are pending etc
Our development roadmap looks as follows:
1. Upgrade the current dashboard to see even more related data for every address
2. Avalanche contract deployment, to manage treasury and that user are able to self claim their rewards
3. NFTs - our designer is already working on them
4. Migration of the token to a none-fee contract on Avalanche.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: We are in discussion with several members of the OHM and MEME community for more collaborations. Mostly we were focused on a fair launch without any presales or "necessary" partnerships.
Q5: Finally on this segment, Can you give an overview of the Tokenomics, and Utility of $OHMINU tokens?
ANS: The token was minted with a total supply of 1 000 000 000 000 of which half was burned at the beginning and the other half was added as liquidity on uniswap.
Our marketcap is around 2 million dollars with more than 1200 holders.
More details can be found on dex-tools: https://www.dextools.io/app/ether/pair-explorer/0x62f01e27474745334bbac7cda911a9942cc6b186
Holders are incentivized to hold our token as they are receiving OHM as rewards. Every Epoch (lasting about 2 weeks) rewards will be airdropped (until the self claiming contract is deployed).
Those rewards come in as wsOHM, which has the mechanics of staked OHM build into contract.
Eventually our treasury grows as more OHM is bought and more OHM is staked. Users get a reflection fee of every transaction. And if the user decides to hold those airdrops they eventually earn on them more staking rewards.
so OHMINU is backed by OHM and is itself a speculative asset that can potentially grow in value even more.
2nd Segment: LIVE Questions
Q1: Being able to participate in governance is one of my favorite things that projects do nowadays, it gives the community a voice, so my question is: is it too late to participate in your DAO and what are the requirements to be able to vote on upcoming events ??
ANS: We are trying to really focus on the community. Currently the community is able to voice in our telegram about some decisions: https://t.me/OlympusInuDAO
We do have in our Roadmap the development of a voting mechanism within our website.
Q2: Will $OHM INU be listing on CEX ?
ANS: After we have build up our treasury even further we are going to migrate to a none fee based token on AVAX. After that we are ready to be listed on CEXes. Negotiations about some listing are already ongoing.
Q3: Having no PRESALE, how would you generate funds to sustain your platform development and growth ?
ANS: We rely on trading volume so we can purchase more OHM and stake it. As the treasury grows it will come in a state where it is self sustainable through staking rewards.
Meanwhile a portion of the taxation is used for marketing which in return should generate more volume.
Q4: I read that OlympusInu will be moving from Ethereum Blockchain to AVAX, is this true? If yes, can you tell us why you believe AVAX will be best for your project compared to Ethereum Blockchain?
ANS: Avalanche has a lot of advantages over other EVM-chains. Tx finality (seconds) being one of the greatest benefits. Which allows users for a smooth bridging experience back to Ethereum chain.
Another benefit is the existence of wsOHM on Avalanche and of course wonderland.finance with its TIME token.
Follow Us On Our Various Social Media Communities For More Update;
The AMA sums it all up 😄 any more questions in our telegram group are appreciated: https://t.me/OlympusInuDAO
medium about distribution https://medium.com/@olympusinudao/hodl-with-ohminu-7d6d3451b07e
medium about volume https://medium.com/@olympusinudao/the-update-2e10a53cc34c
collection of links: https://linktr.ee/olympusinudao
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