FAQ

What is Olas?

A unified network of off-chain services – like automation, oracles, and co-owned AI. Olas offers a composable stack for building these services, and a protocol for incentivizing their creation. Olas enables operating these services in a co-owned and decentralized way.

What are the main products/use cases?

The most up-to-date and heavily showcased products can be found in the Ecosystem section.

Where can I catch up on everything that's happened since the early days?

This Twitter summary thread. ↗

When was the DAO founded? When was the TGE?

Olas DAO was founded in 2022 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. ↗

When was the LBP?

In 2023, the OLAS token launched publicly via an LBP 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 ↗. All funds collected will be strictly used to 'maintain, run and further' ↗ the decentralized Olas protocol.

What’s this about a seed round?

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 ↗.

What’s next?

Catch up on everything built in the Olas ecosystem so far here ↗. This thread is extended weekly as more is built, and there’s a lot to be announced.

OLAS supply and unlocks

Various statistics about OLAS (inc. total supply, circulating supply, current holders, unlock schedules and more) are all live here ↗, or at the primary source: buOLAS contract here ↗, veOLAS contract here ↗. veOLAS is the governance token, which anyone can get by locking OLAS to participate in governance. Governance proposals can be found on Snapshot here ↗ and Boardroom here ↗. buOLAS is a vesting contract for the founding members. You can lock OLAS for veOLAS and check unlocks for your wallet here ↗.

How does bonding and liquidity work on Olas?

The most detail is found in the full whitepaper and whitepaper summary (whitepaper), and the contract repository (contract repository), but the community might create further resources to make them more accessible as time progresses. The promised ⁠ governance vote on bonding is here. Here you can find a thread about Protocol-owned Liquidity, the unique Olas tokenomics inspired by Olympus.

When will there be a CEX listing?

There aren't any imminent plans. The DAO focuses on the decentralized approach of growing liquidity via bonding.

What does the ☴ symbol mean?

☴ 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.

What's the difference between Olas and Autonolas?

Autonolas was the original name. The DAO subsequently adopted the name Olas because it's more inclusive and easier to pronounce. You'll still see Autonolas around because it's embedded in many of the contracts and because it will take time for some people to get used to the new name.

How did you derive the founding member / DAO / treasury token allocation?

The OLAS tokenomics was designed to coordinate a network of stakeholders in enabling an ocean of autonomous services. Other protocols are designed with different ends in mind and with different mechanisms, requiring different tokenomics. Aggregating different entities including DAO Treasury (10% of 10 year max supply), with Founding Members (~50 including people outside Valory, 32.7% of 10 year max supply), and Development reserve (to build out Olas Stack etc) is not very meaningful. E.g. Olas Governance determines the Treasury use. Many "fair-launch" projects end up with similarly high Gini coefficient in early days because early mining/staking is concentrated. Olas compares favourably to many other industry-defining projects like StarkNet, Celestia, Arbitrum, etc.