Phase 1, completed
We are delighted with the growth in this ‘phase 1’, which has been enabled by a supportive and engaged community. Today marks one month since our token listing on the Uniswap decentralized exchange, and we have achieved a lot in such a short period, including, but not limited to:
- The first ever #GlobalOlyChallenge, launched by Olyseum Co-founder Andrés Iniesta. This initiated the Proof of Concept for our Product Market Fit. Almost 50 stars (and adding more every day) waiting to be launched.
- The launch of OLY on Uniswap.
- OLY being listed in CoinMarketCap and CoinGecko.
- Strategic partnership signed with MotoGP icon and World Champion Jorge Martín.
- Adding MotoGP Jorge Martín and 5-star Michelin chef Eneko Atxa to the OlyStar roster.
- The token is currently at 0.50 USD/OLY, from its initial 0.04 USD/OLY public listing price.
Phase 2, new challenges
In the background, the Olyseum team, in conjunction with a number of our leading contributors, have been working on a tight list of proposals to ensure the transition from phase 1 to phase 2 is as seamless as possible, and ties in with the long term objectives of the platform.
We have also been aggregating and assessing the feedback from our community of contributors in recent weeks, particularly in relation to ensuring a healthy liquidity pool.
While we were always preparing for a successful token launch, we perhaps underestimated the scale of potential growth in the immediate aftermath. This, coupled with the initial low liquidity pool, has provided a strong impetus for us to explore efficient ways to increase the circulating supply and facilitate higher liquidity levels.
In response to this, we made some necessary adjustments to our unlocking schedule to build a healthy, liquid market. It is important to note that our biggest contributors have validated and approved this adjustment, which gives expression to their firm belief in the approach we are taking. We are happy that you are joining us on this new path.
Token vesting roadmap
As part of our comprehensive plan to ensure a healthy cadence of token unlocking, we have developed a carefully thought out token vesting schedule.
As a means of generating a sensible emission rate of tokens into the market, a trustless vesting contract will be utilized allowing non-custodial management of token stakes by contributors that choose to participate in the program.
Under this framework, the optional program states:
- Pre-sale participants can receive 10% day1 liquidity and then are linearly vested for 12 months. Around 50% APY for the vested tokens.
- Other allocations (ex: Stars, Marketing, …) are vested into the future where they receive a lump sum in a “cliff” and then are linearly vested (see the below table for details).
- All participants will confirm their Ethereum address and will be able to withdraw their vested allocation at any time post unlock day from a vesting vault.
- Several NFT auctions may take place shortly after, where OLY tokens will be utilized for proprietary access and sale.
Building our shared ecosystem: Block by block
Much like how the colosseum in Rome wasn’t built in one day, the growth of the Olyseum ecosystem will be block by block. All of us are working on the same vision, with the same goals. We have come very far together, and I’m excited to see where we can go, together!
If you have any questions, please reach out to support@olyseum.com and we will get back to you. Thank you for reading!
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