FAQ
High-level questions
What is Olas?
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.
What are the main products/use cases?
The most up-to-date and heavily showcased products can be found on the homepage.
Where can I see what's already happened in the Olas ecosystem, and find out what's next?
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.
DAO-related questions
When was the DAO founded? When was the TGE?
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.
When was the first public sale/LBP?
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.
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 the difference between Olas and Autonolas?
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' 🌊.
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.
Token-related questions
How does Bonding and liquidity work on Olas?
Read more at https://olas.network/bond.
How does Staking work on Olas?
Read more at https://staking.olas.network.
How does voting work on Olas?
Voting rights are granted to holders of locked OLAS, veOLAS token holders. Token holders cannot affect the disposition of the assets of the project team, the project, or any third party. Token holders can use their votes to affect the distribution of token emissions.
The introduction of Olas Staking gave the DAO the ability to direct emissions to useful builders and the DAO treasury, controlling how much OLAS is emitted into the market. For more information on voting, see: https://olas.network/govern.
The current token distribution can be tracked on-chain since the inception of OLAS, and for convenience, on Flipside dashboards like this one here.
What is the current OLAS distribution / supply / planned unlocks?
Live token distribution data (inc. total supply, circulating supply, current holders, unlock schedules, and more) is live here.
You can also see the primary source for the buOLAS contract here and the veOLAS contract here. veOLAS is the governance token, which anyone can get by locking OLAS to participate in governance. Governance proposals can be found for off-chain votes on Snapshot here and for on-chain votes here. buOLAS is a vesting contract for the founding members.
You can lock OLAS for veOLAS and check unlocks for your wallet here.
How did you derive the founding member / DAO / treasury token allocation?
At deployment and issuance of the contract to DAO founding members in 2022:
47.35% of the fixed token supply (i.e. 1 billion OLAS) of the first 10 years is programmed to be distributed to the ecosystem, issued as rewards including developer and bonding rewards in the (code, capital) mechanism. After 10 years the maximum token inflation per annum is capped at 2% and the DAO governance can opt to further reduce it. The aim is to have an s-shaped curve of token emissions to allow for the ecosystem to organically grow over time. The rest of the fixed token supply is distributed as follows:
- DAO Treasury: 10%
- Development reserve: 10%
- DAO founding members: 32.65%
See the live statistics here: https://olas.network/olas-token.
What token allocation does Valory have?
Valory, founding member and co-creator of Olas, has a token allocation (see the Token page for wallet and amounts). This allocation has never been subject to locking or vesting. Valory stated “there are no plans to lock or vest, and this is to the sole discretion of Valory, as is the case with any token holder“.
What is the circulating supply and where can I find the circulating supply of OLAS?
The definition of circulating supply is set by Coingecko and other aggregators - see here for definition, and here for live data.
What is the Autonolas Deployer contract?
“Autonolas Deployer“ is called this way on Etherscan because Valory deployed the Olas (prev. Autonolas) protocol. The deployer has no privileged role in the protocol. The protocol is controlled by the DAO (holders of veOLAS).
What if I want to know about specific transactions?
You can use block explorers to find all transactions on-chain. DAO founding member Valory stated they “never comment on individual transactions unless they are related to a security incident or some governance vote“.
Has the Olas Protocol been audited?
Yes, you can learn more about the various audits here.
Is OLAS listed on any CEXs?
Yes, on 30.10.24, the OLAS token was listed on MEXC.