Olympus Labs Review – Cryptocurrency Guide
Olympus Labs means to make a decentralized, security focused ecosystem of financial items, services, and applications. Find out how it works today in our review.
What Is Olympus Labs MOT?
Olympus Labs is creating a financial ecosystem called Olympus. The ecosystem intends to define the protocol for cryptocurrency-based financial items. It gives investors an exhaustive financial marketplace loaded with financial items, services, and applications that serve their investment needs. Investors can construct an all around diversified portfolio, hedge their drawback hazard, and make positive returns in all market conditions by leveraging the items in the Olympus ecosystem.
Investors will have the capacity to get to Olympus Labs MOT through a mobile app. You can use the app to find investment items and services took into account the cryptocurrency community.
A portion of the proposed items available on the Olympus marketplace include crypto loans (where you use crypto as collateral to pull back fiat or crypto) and index funds (which track the general execution of provincial or industry-specific markets).
What Problems Does Olympus Labs Seek To Solve?
For what reason do we require a platform like Olympus Labs? Here are a portion of the issues that the platform expects to comprehend in the present financial ecosystem:
Absence of Product straightforwardness
Brought together power
Inefficient trading framework
Together, these issues are forcing investors into illsuited financial items. Olympus needs to make a smarter ecosystem.
How Does Olympus Labs Work?
Olympus ecosystem consists of a gathering of items and services. By and large, it’s a complete marketplace for financial services, including a protocol that defines cryptocurrency-based financial items. The ecosystem additionally integrates homomorphic encryption and zero knowledge proofs.
All components of the Olympus ecosystem are available from a single app. Here are the items and services you can access through that app:
Hora (a wallet)
Prometheus (a financial item marketplace)
Lethe (zero knowledge proof and homomorphic encryption framework)
Vajra (open blockchain)
Ambrosia (financial items protocol)
As a user, you’ll be interacting with Hora and Prometheus through the Olympus app. Underlying the wallet and marketplace are the Vajra open blockchain the Lethe encryption and security framework, and the Ambrosia protocol.
The “protocol” alludes to the Olympus Financial Products Protocol. It’s another token standard that empowers the formation of cryptocurrency-based financial items in the type of interoperable smart contract tokens.
Financial items made under the Olympus Financial Products Protocol accompany the following advantages:
There’s no manual verification or back-office paperwork required.
No Counterparty Risk:
Smart contracts are exchanged on the open market so there is no guarantor or counterparty hazard. Costs identified with assessing and hedging counterparty chance are eliminated.
Blockchain Finance (Not “Finance on Blockchain”):
Olympus uses blockchain technology to make a radical new financial framework that is particularly suited to blockchain technology, digital currencies, and smart contracts.
Who Will Use Olympus?
Olympus is provided food towards three main gatherings, including investors, item makers, and partners. Here’s the means by which each gathering will interact with the platform:
Investors will use the user-accommodating Olympus interface as their one-stop investment shop, using the platform to find a differing scope of financial items. When they’re prepared to buy an item, consistent wallet and payment integration is used to process the exchange.
Item makers can get to the Olympus engineer toolbox, allowing them to exploit features like zero knowledge proofs and homomorphic encryption. Engineers can make items for a focused on marketplace with an existing userbase. Designers may use the marketplace to raise beginning time funding, for instance.
Partners will give Olympus-subsidiary items to users. Partners could include exchanges and investment funds seeking to increase their size, or service and item suppliers who need to get to investors through the Olympus marketplace. Fund managers and resource makers can likewise make custom items for investors.
Use Cases For Olympus Labs
Here are a portion of the proposed use cases for Olympus, as outlined on the Olympus Labs site:
You are holding BTC and need to buy into another ICO, but you would prefer not to offer your BTC. You enter a contract where you can acquire bitcoin while using your current bitcoin as collateral.
You are holding BTC and need to produce benefits from holding the advantage, like how a stock would create profits. You use Olympus to loan out your BTC to create interest while holding a borrower’s BTC as collateral.
You are a blockchain company that simply raised millions through an ICO. The greater part of your funds are in ETH and BTC, which can be unpredictable. You use Olympus to find financial items and services that assistance deal with your funds for esteem conservation and steadiness.
You sense that the market is going down, and might want to benefit from this upcoming development, but you can’t do anything beside selling your crypto resources for money. You can use Olympus items to short the market and benefit notwithstanding when the market is in a downturn.
You need general market introduction to the cryptocurrency industry through an index like the S&P 500, but would prefer not to manufacture your own index physically. You buy an index fund from Olympus’ marketplace. Olympus is developing index funds to track certain industries and areas.
The Olympus Labs MOT ICO Sale
Olympus is holding a token sale. Tokens will be used to take an interest in the Olympus platform and marketplace.
Of the aggregate supply of 100 million Olympus tokens, 40% are going to the crowdsale, 20% to the team, 8% to early supporters, 8% to the engineer community, 8% to business partnerships, 8% to framework incentives, and 8% to the establishment.
A date for the token sale has not yet been reported.
Who’s Behind Olympus Labs MOT?
Olympus Labs was established in New York in 2017. The founding team includes Kai Chen (Founder and CEO), a business visionary who graduated Magna Cum Laude from Yale University and worked at Morgan Stanley, PIMCO, and McKinsey, and also Danielle Sabrina (Co-Founder and COO), who already established What Vibes Your Tribe.
Olympus looks to quiet market instability with another class of crypto-subordinates. These subsidiaries will empower the cryptocurrency market to develop in a consistent and stable form. With our private ICO at full speed and our open ICO coming up in December, we at Olympus Labs will offer our first two organized financial items:
Olympus Bitcoin Collateral
Olympus Bitcoin Collateral, our first subordinate offering, allows users to get and loan Bitcoin, using Bitcoin as collateral. Here’s the way it works.
Let’s assume you need to use Bitcoin to invest in an ICO, altcoins, or some other project you find beneficial, but you need to continue to hold the Bitcoin you officially claim. Through Olympus Bitcoin Collateral — a smart contract — you can vow your claimed Bitcoin as collateral in exchange for loaned Bitcoin from a bank. You can use this loan in any way you pick while as yet keeping your original Bitcoin, if you restore the loan with interest to finish off the smart contract. The best part is that you get the opportunity to keep any extra benefits.
This is what it would seem that from the opposite side. Potential loan specialists with a store of Bitcoin — gained through mining or basically by purchasing extensive quantities — need a route for their investments to increase in esteem separated from general esteem appreciation of the market. By loaning their Bitcoin, banks advantage from earned interest on their Bitcoin. Banks can likewise sit back and relax knowing that the smart contract ensures against borrowers defaulting on their loans.
Our second item is a highly adjustable index, which investors and engineers can manufacture and modify to meet their own novel needs. There is no restriction to the indices or index funds that can be made on the Olympus platform.
What is an index? An index is essentially an estimation that monitors development in the general market or specific parts. Indices (indexes) can be transformed into portfolios or index funds that mirror the development of the index. At the point when users invest in an index fund, they allow their investments to see long-term returns without close administration.
For instance, you might need to monitor a crate of alt-coins that you think speak to the health of the general market. With Olympus, you can make that index, and after that invest in it, allowing your investment to develop with that specific gathering of alt-coins. The best part is that other individuals can invest in your index, as well.
Our market indices likewise allow Olympus to band together with exchanges and other trading platforms. For instance, exchanges, (for example, CoinNest and ShapeShift) will have the capacity to create custom indices to track their own particular execution, and they can offer index funds as items to their users. These partnerships are commonly useful: the exchanges give liquidity to Olympus items, and Olympus allows the exchanges to offer more items to their users. Additionally, these connections can enable our partners to gain new users, while existing users will have the capacity to invest all the more astutely and innovatively, because of our items.
More to come
Bitcoin Collateral and Indices are just the first two of the numerous crypto-subsidiaries that Olympus Labs plan to offer. These items and more will be available through the Olympus Wallet, which dispatches in December 2017.
To learn more about Olympus and to partake as an individual from our submitted community, kindly visit our site at www.olympuslabs.io.
The Olympus Labs MOT ICO Conclusion
Olympus Labs is building a decentralized financial ecosystem for the cryptocurrency industry. That ecosystem will consist of a user-facing app and in addition a marketplace of financial items and services for the cryptocurrency community. The platform is in development all through 2018, with a crowdsale for Olympus tokens occurring at some point this year.
To learn more about Olympus Labs and the upcoming ecosystem, visit online today at OlympusLabs.io.