Olympus DAO Clone Script - Launch Your DEX Protocol Now
Olympus DAO Clone Script is the replicated application of the famous Olympus DAO DeFi protocol. Stakeholders can easily store value in their assets in decentralized assets that are not linked with the conventional centralized finance ecosystem. Also, they can gain access to assets that are present in L1 and L2s.
Olympus operates through its dedicated community and its decisions. In Olympus DAO Clone Script, the administrative option can be varied based on the business plans of fintech entrepreneurs.
Olympus DAO Clone Script will be the first clone of a protocol that has all the three aspects of liquidity provisioning:
Staking and liquidity-providing options are the two major (and successful) features of the Olympus DAO clone and it provides token-based incentives to ensure users don’t sell the tokens, thus ensuring the reduced volatility.
The actual Olympus DAO protocol functions on the Ethereum blockchain. However, based on an entrepreneur’s needs, the Olympus DAO Clone Script can be run only on the blockchain with the same model.
Role of your Native (Reserve) Currency in Olympus DAO Clone Script
Onboarding people into the Olympus DAO Clone ecosystem is now easy with the protocol’s native cryptocurrency. It also can transform itself into a neutral reserve currency for the entire Web3 world. The native currency can be used broadly for a variety of functions, from using it in other trading pairs and blockchains.
With a relevant and transparent monetary policy and valid tokenomics, it can easily rise to fame and can maintain its stability on its own.
One more significant advantage of the role played by native currency in your Olympus DAO clone is that by building proper use cases and partnering with community initiatives, you can easily scale its value in the global market.
Potential of Reserve Currency in your Olympus DAO Clone
- Purchasing Power:
When inflation hits the world, the reserve currency will outpace it with its progressive value. Hence, it won’t lose its value over time.
They are highly liquid. Hence, they can be easily exchanged for other goods and services.
- Trustworthy Backing:
Since the reserve currency possesses low risk and is credible, it welcomes a huge userbase to hold it and reap the rewards.
Staking and Bonding in Olympus DAO Clone Script
In your Olympus DAO Clone, users can easily stake OHM (or your native reserve cryptocurrency) and mint an equivalent number of sOHM. When the base value of OHM increases, users get to mint more sOHM. When the base value decreases, the sOHM tokens are burned. Thus, the value of reserve cryptocurrency is maintained constant. Staking in Olympus DAO Clone is a long-term passive strategy that yields good rewards. Upon unstaking, sOHM tokens are burned and users receive the equivalent number of OHM tokens which can be traded elsewhere. Participants of the staking process earn rights to take part in community governance too.
Bonding is a ground-breaking mechanism that does not depend on any external third-party oracles. It acts just like a central bank that issues bonds for people to earn interest later. However, here in your Olympus DAO Clone, bonds are based on issuing your reserve currency at a discounted rate which can be bought by offering some other token. Thus, this promotes the liquidity of the platform.
Olympus Pro in Olympus DAO Clone Script
Olympus Pro is a concept related to yield farming. Existing yield farming protocols face certain issues - the selling pressure that makes the platform volatile, impermanent loss, and the highly transient liquidity that makes the protocol reliable.
Olympus Pro mechanism extends the process of bonding to other protocols as well where users can exchange liquidity for your Olympus DAO clone protocol’s native token at a discounted price. As a result, your platform gets to own the liquidity which ensures the price stability for the entire community involved.
While the community gets to purchase the tokens at a discounted price without any exposure to impermanent loss, as a protocol administrator you get to increase the liquidity bandwidth and increase the revenue flow by charging fees from all the decentralized exchange trades.
Revenue Model in Olympus DAO Clone Script
Within just four weeks of its inception, the OHM token scaled to $1415 and its market cap hit the roof-top at $4.4 billion in November.
Similarly, when the business use-cases and revenue-making strategies are set right, you too can establish your Olympus DAO Clone as a market leader.
Now, let’s learn how to streamline your income with Olympus DAO Clone Script.
i) Liquidity pool fees
Let’s say one of your protocol users has $2000 and he wishes to invest in cryptocurrency.
He buys $1000 worth of DAI and $1000 worth of OHM on a decentralized exchange, let’s say PancakeSwap. This means he has offered liquidity to a pool in PancakeSwap. In return, PancakeSwap gives him Liquidity Pool (LP) tokens as a reward for his contribution to the platform.
Now, if someone else wishes to exchange DAI or OHM, PancakeSwap can offer it to them. Since it was your user’s contribution to PancakeSwap that helped the platform give it to someone else, he will be rewarded again with transaction fees.
He then sells the LP tokens to your Olympus DAO clone in exchange for a bond and then converts his bond to OHM to stake it again in your platform. Thus, he contributes to your platform’s liquidity. Also, your platform gets to earn fees from the transactions that take place on PancakeSwap and other DEX platforms.
Olympus DAO treasury earns around $75 million per year from liquidity pool fees.
ii) Olympus Pro (or) Bonding
New protocols that don’t own liquidity can just issue bonds like Olympus. Through this model, they can buy and own their liquidity and your platform can easily take its share. Olympus DAO is expected to rake in at least $20 million this year through this model. Hence, by partnering with other protocols, your Olympus DAO clone can grow easily.
iii) Yield Farming
Olympus DAO earns approximately $110 million per year from its yield farming business model. Similarly, you too can earn interest by placing your treasury reserves on other protocols.
Another mode of income can be planted by setting up an in-house incubation program in your Olympus DAO Clone protocol where you can launch third-party projects. This business model has brought Olympus DAO a revenue of $50 million. So, by fostering emerging defi businesses, you can grow as well.
Build Your Own DEX like Olympus DAO
If you are a fintech entrepreneur and your team has got plans to build a decentralized exchange (DEX) platform like Olympus DAO, do not hesitate to reach out to us - Nodalsoft Technologies. Our blockchain architects shall set up a free consultation call to help you with your business requirements. Nodalsoft Technologies, the DeFi Development Company, helps you build a platform that replicates all the features of Olympus DAO. Here’s why you’ll be benefitted by preferring us.
● Agile methodology.
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● 50+ blockchain architects & designers.
● Proficient development team with DEX expertise.
Your FREE perks.
Our collaboration ensures you are profited by gaining more than your requirements.
● FREE Business class white paper.
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