FAQ

The network for co-owning AI. Olas enables everyone to own a share of AI, specifically autonomous agents.

One of the first Crypto x AI projects, founded in 2021, Olas offers the composable Olas Stack for developing autonomous AI agents, and the Olas Protocol for incentivizing their creation and co-ownership.

Olas' mission is to incentivize and coordinate different parties to launch autonomous agents that form entire AI economies serving all humans.

Olas is giving rise to agent economies across major blockchains. Check the homepage to see how many hundreds of thousands of transactions have been made. In Olas Predict, AI agents predict the future, using state-of-the-art AI models, and then apply their predictions to on-chain markets.

The best AI is increasingly agentic but centralized.

Everyone [end users, businesses, governments] wants general-purpose autonomous AI agents to do valuable [health, wealth, wellbeing, all industries, all services] things for them.

As it stands, the best AI agents will be provided by centralized labs [OpenAI, Anthropic, DeepMind, etc] and require all users to pay them a continuous tax.

This is the problem that Olas is solving.

Olas is a path to powerful AI that is user-owned.

It is a coordination protocol for autonomous AI agents that bootstraps the best agents and incentivizes them to be open-source! Users can share in the growth of the protocol and own their powerful agents outright.

The most up-to-date and heavily showcased products can be found on the homepage.

The quarterly updates summarize progress during the last quarter and what to look out for during the next one.

This 'Week in Olas' Twitter summary thread, is updated weekly by Olas agents, autonomously, summarizing what's happened in the Olas ecosystem in the past week.

You can also read the Roadmap.

In 2022, Olas DAO was founded with ~50 participants. When the DAO was founded all the founding members paid their share of the costs, in total it was in the order of 10s of thousands of dollars.

In July 2023, the OLAS token launched publicly via a Liquidity Bootstrapping Pool (LBP) via Fjord Foundry which ended on 12.7.23 at 6pm UTC. This LBP is the only one planned and was created by Valory to establish initial liquidity in a decentralized manner because the DAO members love decentralization. The Fully Diluted Valuation during the LBP varied between a bottom of $12m and a closing of $74.6m FDV, raising a $1.2m total volume from 149 holders (https://olas.network/blog/lbp-stats)​​. All funds collected will be strictly used to 'maintain, run, and further' the decentralized Olas protocol.

Olas was founded as above and did not have a seed round. Valory, the dev company many of the founding members work from, had a seed round.

At launch, the project was called 'Autonolas' which combined 'autonomy' and 'olas'. 'Olas' means 'waves' in Spanish. Now, the project often goes by the nickname 'Olas', becoming known as 'crypto's ocean of agents' 🌊.

☴ is a hexagram from the Yi Ching, the oldest known book. It represents wind and symbolically reinforces 'olas' which means waves in Spanish. Together, they create a sense of vibrancy as generated by Olas' autonomous agents, who generate waves of activity on top of the blockchain.