Q1 & Q2 2023

As we move into Q3 2023, here is a summary of what happened in the Olas ecosystem in the last two quarters and what's coming next.

What happened in Q1 & Q2?

The OLAS token launched at a $74.6m FDV. It fuels a whirlpool fusing capital and code in a growing ocean of services.

The OLAS Token is now public:

LBP indicates Olas Network FDV of $74.6m.

By its end at 6pm UTC, Wednesday 12th July 2023, the week-long Liquidity Bootstrapping Pool that facilitated a decentralized launch for the OLAS token saw:

• 393 swaps totalling $1.2m in volume.
• 14.84 million OLAS tokens (~1.5% of the network) released to 149 holders.

OLAS is now live on Uniswap v2.

As of mid-Friday 14th July 2023. See live stats on the OLAS Dune Dashboard, or learn more via the Whitepaper / Discord.

The OLAS token fuels a whirlpool fusing capital and code. A tangible, live example of this is the developer rewards programmed in. Two epochs of developer rewards have already been distributed, and the next developer rewards will soon be accompanied by >1m OLAS! The next piece to become live will likely be the Olas Network's unique, Olympus-inspired bonding program, as governance is now reviewing this proposal. For a detailed, technical understanding of the tokenomics powering the Olas Network, you can read the whitepaper or academic tokenomics paper. The flywheel is turning, and should only accelerate once bonding is live.

The growing ocean of autonomous agent powered services

Valory has built 8 crypto-native autonomous services, based on the autonomous agent powered technology of the Autonolas Network (Olas Network for short). Here's a spotlight on three – a comprehensive list appears on the Olas Network site.

1. Governatooorr

Governatooorr technically means humans may no longer need to read governance proposals to vote and decide organizations’ outcomes, and it already supports the biggest DAOs in the space governing billions of dollars. However, Valory’s goal is to use Governatooorr to show the power of autonomous agent based applications and provoke discussion about building open-source software to harness AI for the betterment of humankind.

2. Centaurs

Centaurs enables co-owned AI DAOs to be created via chatbot. So far such DAOs can already create shared memory and post human or AI-created content via a group-controlled Twitter account. However, big things are coming for Centaurs in Q3, so stay tuned for more soon.

3. Contribute

Contribute distributes points autonomously to those who contribute to #OlasNetwork, with strong week-on-week user growth. The Olas Network's first Protocol-owned Service.

Collaborations in the Olas Ecosystem

Olas Network was deployed on Polygon and Gnosis Chain, collaborated with Gnosis Chain on AI mechs and an upcoming hackathon, generating multiple media appearances like this one.

• Valory organized two Crypto x AI conferences, gathering varied expert speakers from organizations including Gnosis, Algovera, Ocean Protocol, and showcasing Olas to >100 attendees.
• Two grants for Olas-powered tech were executed, one approved by CoWSwap DAO to build an Olas-powered watchtower, and one approved by Solana to bring Olas-powered Governatooorr to the chain.
• Valory co-organized Augment Hack, a decentralized AI Hackathon for ETHCC, alongside Ceramic, NEAR Protocol, Gnosis Chain, Ocean Protocol and StabilityAI.
• Valory approved a grant to Algovera AI to explore LLM use on the Olas Network.
• Valory built an Olas-powered Python Client for Ceramic.

Catch up on recent appearances by David M

(CEO of Valory, co-creators of Olas Network)**_

• Deep Dive into Autonolas with the_fett
• Debuting #coownedAI concept at Ethereum Denver
• Giving a talk on decentralized off-chain backends at #IPFSThing
• On the DAO Talk podcast, on helping DAOs become more efficient, decentralized, and autonomous

TLDR

An emerging ecosystem has wholeheartedly embraced the Olas Network, despite the difficult market conditions.

The tides that have been building for more than two years are coming to a head and it is great to see the excitement around the services present and the vast potential for where the network can go next.

What's coming next?

Funds from the public launch will be used to maintain, run and further the Olas Network, including giving rise to further Olas-powered, cutting-edge autonomous agent products.

• Get caught up on everything big so far.