New Olympus Protocol By Olympus Labs Looks To Connect Blockchain Crypto Financial Ecosystem
Olympus Labs Has Just Developed A Protocol That Will Revolutionize The Crypto Financial Industry
A blockchain fintech ecosystem Olympus Lab has been able to connect plus empower various investment managers, developers, investors and the third-party applications that you will find in the crypto market. At the core of this system is the Olympus protocol, which has been designed to enable the decentralized token creation of crypto financial products. It is products like futures, indexes, funds, the lending of products and much more.
More On The Olympus Lab
Olympus Lab has been designed to be a comprehensive ecosystem that could be useful for the institutional and retail investors. This is all thanks to the guidance and advice being offered by Payal Lakhani, who is the director of the Index and ET Creation that is at the CME Group.
What is being considered as the most innovative part of the Olympus protocol is the fact that it is designed as an assemblable protocol.
What this means is, according to the automotive industry, it describes how easy it is to assemble the multi-component design straight at the manufacturing level. With the introduction of assemblable parts helps in reducing costs; as a result, it was able to usher in the golden age in the automotive industry, this is according to Henry Ford.
Thus, having an assembly protocol is a system that has been built with the use of layered and modularized architecture, it is one that has been made up of components that are able to be assembled quickly. As a result, this is how the Olympus protocol has been built, an efficient protocol that has been designed for the decentralized token creation for the crypto finance products.
The company further says that they have been able to build on the core components and is able to define the method of assembly that is used. As a result, this will be able to allow the developer community to build and easily assemble their products.
With the company being able to design an assembly protocol it has been able to increase the likelihood to have a widespread adoption.
Accordingly, it will be able to empower developers in the market to engage, innovate and also build. The Olympus Protocol has been designed with three different layers, which will be able to allow DApp and the smart contract developers across different skill levels the ability to contribute and in turn benefit from the protocol.
Some Of The Features To Look Out For From The Olympus protocol
The protocol has been designed with ten core components; these are modules that have been made to perform specific financial tasks, like selling and buying tokens, calculating the management fee and many more.
It has four financial templates that could be used to create crypto products, two have been designed for the creation of funds, and two can be used to create indices.
The financial product templates have two primary purposes. The first one being developers are able to use the models if they are looking to create some customized financial products, plus also have the ability to build upon the DApps tokenized financial products.
The other purpose is to integrate it to the Olympus Investment Manager Web Protocol; it is the very first type of DApp that was built at the top of the Olympus Protocol. It was designed to allow investment managers the ability to create the tokenized crypto funds, plus the indices in a few minutes without the need for technical expertise.
The portal will also be able to allow investment managers to be able to create their own funds and indices without incurring any fees for the first few months and be in a position to manage them fully. The primary goal of the Olympus Lab is to be in a place to usher in an industrial revolution in the crypto finance and be able to bring the assembly line to the current blockchain fintech.