Olympus Labs aims to create a decentralized, privacy-centered ecosystem of financial products, 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 aims to define the protocol for cryptocurrency-based financial products. It gives investors a comprehensive financial marketplace filled with financial products, services, and applications that serve their investment needs. Investors can build a well-diversified portfolio, hedge their downside risk, and make positive returns in all market conditions by leveraging the products in the Olympus ecosystem.
Investors will be able to access Olympus Labs MOT through a mobile app. You can use the app to find investment products and services catered to the cryptocurrency community.
Some of the proposed products available on the Olympus marketplace include crypto loans (where you use crypto as collateral to withdraw fiat or crypto) and index funds (which track the general performance of regional or industry-specific markets).
What Problems Does Olympus Labs Seek To Solve?
Why do we need a platform like Olympus Labs? Here are some of the problems that the platform aims to solve in today’s financial ecosystem:
- Lack of product transparency
- Centralized power
- Inefficient trading system
- Slow adaptability
Together, these problems are forcing investors into ill-suited financial products. Olympus wants to create a smarter ecosystem.
How Does Olympus Labs Work?
The Olympus ecosystem consists of a group of products and services. Overall, it’s a comprehensive marketplace for financial services, including a protocol that defines cryptocurrency-based financial products. The ecosystem also integrates homomorphic encryption and zero knowledge proofs.
All elements of the Olympus ecosystem are accessible from a single app. Here are the products and services you can access through that app:
- Hora (a wallet)
- Prometheus (a financial product marketplace)
- Lethe (zero knowledge proof and homomorphic encryption system)
- Vajra (public blockchain)
- Ambrosia (financial products protocol)
As a user, you’ll be interacting with Hora and Prometheus through the Olympus app. Underlying the wallet and marketplace are the Vajra public blockchain the Lethe encryption and privacy system, and the Ambrosia protocol.
The “protocol” refers to the Olympus Financial Products Protocol. It’s a new token standard that enables the creation of cryptocurrency-based financial products in the form of interoperable smart contract tokens.
Financial products made under the Olympus Financial Products Protocol come with the following benefits:
There’s no manual verification or back-office paperwork required.
No Counterparty Risk:
Smart contracts are traded on the open market so there is no underwriter or counterparty risk. Costs related to assessing and hedging counterparty risk are eliminated.
Blockchain Finance (Not “Finance on Blockchain”):
Olympus uses blockchain technology to create a whole new financial framework that is uniquely suited to blockchain technology, cryptocurrencies, and smart contracts.
Who Will Use Olympus?
Olympus is catered towards three main groups, including investors, product creators, and partners. Here’s how each party will interact with the platform:
Investors will use the user-friendly Olympus interface as their one-stop investment shop, using the platform to discover a diverse range of financial products. When they’re ready to purchase a product, seamless wallet and payment integration is used to process the transfer.
Product creators can access the Olympus developer toolkit, allowing them to take advantage of features like zero knowledge proofs and homomorphic encryption. Developers can create products for a targeted marketplace with an existing userbase. Developers might use the marketplace to raise early stage funding, for example.
Partners will provide Olympus-derivative products to users. Partners could include exchanges and investment funds seeking to increase their size, or service and product providers who want to access investors through the Olympus marketplace. Fund managers and asset creators can also create custom products for investors.
Use Cases For Olympus Labs
Here are some of the proposed use cases for Olympus, as outlined on the Olympus Labs website:
- You are holding BTC and want to buy into a new ICO, but you don’t want to sell your BTC. You enter a contract where you can borrow bitcoin while using your current bitcoin as collateral.
- You are holding BTC and want to generate profits from holding the asset, similar to how a stock would generate dividends. You use Olympus to lend out your BTC to generate interest while holding a borrower’s BTC as collateral.
- You are a blockchain company that just raised millions through an ICO. Most of your funds are in ETH and BTC, which can be volatile. You use Olympus to find financial products and services that help manage your funds for value preservation and stability.
- You sense that the market is going down, and would like to profit from this upcoming movement, but you can’t do anything aside from selling your crypto assets for cash. You can use Olympus products to short the market and profit even when the market is in a downturn.
- You want general market exposure to the cryptocurrency industry through an index similar to the S&P 500, but don’t want to build your own index manually. You buy an index fund from Olympus’s marketplace. Olympus is developing index funds to track certain industries and regions.
The Olympus Labs MOT ICO Sale
Olympus is holding a token sale. Tokens will be used to participate in the Olympus platform and marketplace.
Of the total supply of 100 million Olympus tokens, 40% are going to the crowdsale, 20% to the team, 8% to early supporters, 8% to the developer community, 8% to business partnerships, 8% to system incentives, and 8% to the foundation.
A date for the token sale has not yet been announced.
Who’s Behind Olympus Labs MOT?
Olympus Labs was founded in New York in 2017. The founding team includes Kai Chen (Founder and CEO), an entrepreneur who graduated Magna Cum Laude from Yale University and worked at Morgan Stanley, PIMCO, and McKinsey, as well as Danielle Sabrina (Co-Founder and COO), who previously founded What Vibes Your Tribe.
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 as well as a marketplace of financial products and services for the cryptocurrency community. The platform is in development throughout 2018, with a crowdsale for Olympus tokens occurring sometime this year.
To learn more about Olympus Labs and the upcoming ecosystem, visit online today at OlympusLabs.io.