Is Ooze Finance the 2.0 staking protocol we have all been waiting for?
Hello boys and girls, ladies and germs, I guess I must start by telling you that nothing you read below is financial advice, not even between the lines, absolutely nothing, nada! I also strongly suggest you do your own due diligence, helps to stay out of trouble and stay focused on your objective when the unexpected happens (as it almost always does in the utter madness of crypto investing).
Let me share with you why I have decided to write my very first Medium article. I enjoy writing, and although I must be invested across a dozen projects, none of them have ever instilled enough confidence or picked my interest sufficiently to want to share in an article, until finally, I came across what I believe is a true gem: Ooze Finance.
So what is Ooze Finance and what’s the purpose of it?
Ooze is a stakeable token on the Fantom network that you deposit in what they call the sewer contract. Once deposited these tokens are locked and you can no longer withdraw them. The deposit generates passive income of a minimum of 1% per day that can be increased to 2% through positive actions. The interest can be claimed or compounded. Sounds familiar? Almost boring? Stay with me because it’s actually much more than that.
When you stake your Ooze tokens the protocol mints an NFT of your deposit. You can increase the value of this NFT through several different actions that I will detail a little later. You can think of your NFT as a certificate of ownership for your deposit, it’s like a piece of real estate or may even by like a business that you can sell at any time. This investment that you have just made that is locked and on which you can only compound or withdraw the interest is now liquid and tradable again but in the form of an NFT. You can now basically sell your entire investment at the highest bidder if you so wish. Having your deposit as an NFT also offers the flexibility to create multiple separate NFTs (deposits) on the same wallet address that you could create for family and friends or even airdrop to team members.
There are two types of NFT factions. The first is what they call the “Bio Punks”. This faction is for those not interested in building teams and just want to take advantage of the tremendous daily ROI. This faction also offers auto-compounding and claiming so you won’t even need to bother going on the website every day or even pay the gas fees. A major disadvantage of this faction is that you can’t benefit from the kickbacks set by a user (team leader). You will only get the kickbacks from the system wallet which are set at 25%.
The second NFT faction is called the “Order of Slime”. This faction is for those who wish to build teams and/or take advantage of the kickbacks that are preset by the team leader on the taxes paid by compounding. The percentage kickback is immutable so there can be no backtracking on promises by team leaders.
“Bio Punks” or “Order of Slime”?
The reason for choosing the Bio Punks faction is simple. You are looking to earn passive income, you have no intention of ever building a team or share this project with any friends or family, and you wish to spend as little time as possible interacting with this project, only planning to withdraw your income from time to time. Basically, what you like in passive income is above all the word passive.
If instead you think you might introduce this project to others in the future, Order of Slime is the faction to join. In addition, even if you don’t build a team yourself, you can benefit from up to 75% kickbacks on the compounding taxes. If you can join a generous team, this is the no brainer option.
Team building under The Order Of Slime
If you decide to build a team, there are two sources of return from downlines: depositing and compounding. As a team leader you will receive the full 10% deposit tax paid by team members joining your team (as well as any fresh capital they might add to an existing deposit in the future). The 10% tax on compounding is slightly more complex. Half of it (5%) goes to your team leader, the other half (5%) goes up in a round robin chain of 15 levels up (first time to the wallet just above you, then the next time to the wallet two wallets above and so one until it reaches the wallet 15 levels above you). However, on all 10% compounding taxes of your team members, you can determine an amount of kickbacks each individual team member will receive that is immutable and may vary from 25% to 75% of that tax. At his point you might be thinking that being a team leader is a free lunch and this is where this project continues to outshine most others.
For team leaders to get a share of the taxes paid by his downlines, they must provide liquidity to the contract by creating and depositing OOZE/USDC LP (SLIME liquidity). This is a game changer because whilst it is profitable to be a team leader, in exchange for these advantages, team leaders must provide liquidity to the protocol in order to get the rewards, benefitting the entire community in the process. In effect, whilst you stand to gain more by building a team, you must also contribute more to the system in exchange. To make it fair to all deposit sizes and enable anyone to build a team with even small deposits, the liquidity you must provide is a multiple in SLIME LP of the number of OOZE tokens your deposited (currently between 0.3x and 10.8x of your deposit depending on the number of downlines you are seeking to get kickbacks from and up to a maximum of 15). This ratio of SLIME tokens to OOZE tokens only considers deposited OOZE tokens not compounded OOZE.
Gamification, because…. “let’s make Defi fun again!”
Now, as mentioned, you can upgrade your NFT (your stake). How? Well, this is where all the fun begins. All your positive actions in this project will earn you eXtra Potential (XP). Positive actions are compounding your deposit, staking liquidity (SLIME), airdropping your team (if you have one) and recruiting new people to this project. XP can then be used for three purposes:
1) strength, which can increase your maximum payout to 12x from 8x (remember you then multiply that by 365% which cumulates up to a maximum claimable amount of Ooze tokens of 43.8x your initial deposit but no more than 50’000 Ooze)
2) speed, which can increase your daily ROI up to 2% daily from 1%
3) stealth, which can increase your kickbacks from taxes from a base of 25% up to 75%. This is mostly for the Bio Punks faction as even if you join a team, the preset team leader kickbacks do not apply to Bio Punks. This enables you to increase the kickbacks from 25% (system wallet, no team) up to 75%
From my discussion with the Devs in Telegram, you will be unable to max out all three so choose carefully how you want to level up the different attributes.
How is this sustainable?
First of all, keep in mind that none of these protocols really fit the definition of sustainable in any way, some just have a longer shelf life than others. Any action you take like compounding, depositing, claiming your interest, transferring the token, adding/withdrawing liquidity (SLIME) is taxed at 10% to increase the sustainability of the project. However, the transfer and sale of the NFT (your investment) is only taxed 1% on transfers and 5% on sales. So if you gift an NFT to a friend or family member for example, only a 1% tax will be taken for transferring the NFT to their wallet. In addition to the taxes, there is also a max payout multiple on your investment as described before. But remember, you will be able to claim 365% of that 8x to 12x, so that’s a minimum of 29x of the number of Ooze tokens you invested, and the maximum payout of 50’000 Ooze tokens per wallet. Whilst limiting the upside, this is one of the reasons this project is more likely than most to last at least until you have made some nice returns. Finally, there are whale taxes on top of the standard 10% tax that are progressive based on your available balance (available+claimed) calculated as a percentage of total supply, they scale from 1% to 50% and help protect smaller investors. Nevertheless, as all these projects, better be early.
You can’t talk about sustainability without addressing the elephant in the room, so before you think I am delusional, I will try to answer the question of whether this is a Ponzi.
Sure it’s a Ponzi scheme, as much as most farms, compounding and staking protocols and a large share of the entire “defi space” for that matter. Unless the investor base grows, Ooze, like any other similar project, will die of a slow and frustrating death. In order to extend the life of these projects you need the investor base to grow as well as add new utilities around the native coin to entice early investors (as they become whales) to not sell all their tokens and recycle their gains. Ultimately, the project could mutate into something very different that is no longer a Ponzi and has real utility and therefore no longer relies on fresh inflows. But let’s not get ahead of ourselves, I have no example of this ever happening, although the team has hinted to lending and future utilities to extend the life beyond staking. Time will tell, let’s wait for them to deliver before we get too fired up on any long-term plans. At so many levels our lives interact with many Ponzi’s, it’s perception and narratives that make them acceptable. Credit cards offering 8% cashbacks, how is that not a Ponzi. Anybody who has bought a lottery ticket has actively and willingly participated in a Ponzi. What about quantitative easing, central banks buying government debt, how is that not a Ponzi? Twenty years ago, if someone would have told you that governments around the world would be buying tens of trillions of their own debt, effectively canceling any interest and most likely outright canceling the debt itself, you would have likely expected this to be the end of capitalism if not democracy. And here we are, we have accepted the narrative of this being normal with capitalism and democracy still well alive.
So, needless to say, invest only what you are ready to lose. But after a year in crypto watching similar projects sometimes succeed longer than expected and others fail miserably almost instantly, Ooze ticks all the boxes for being sufficiently elaborate to earn you a nice profit, even potentially one of the most successful of its kind.
In summary, why do I think this project is the most interesting of its kind? As you have read before, this is basically a perfect melting pot of the best of all similar staking projects and inspired by DRIP, the grandfather of all these protocols. In addition, and I can’t stress how important this is, the team is incredibly transparent and available to its community. Every team member goes out of his way to answer all questions and in an unprecedented intelligible way for the crypto space. Granted, the bar is low in Defi and this is the main reason I decided to give a second look at Ooze. Check out the AMAs with JccCrypto or SK CryptoK if you’re still wondering what I mean by dev communication skills.
The team is composed of four developers, each with over 20 years of experience in development and nothing has been outsourced. Whilst they are not Doxxed for security reasons, the team has performed a KYC thereby proving their identity. The presale contract is being audited by Prisma Shield, and they will soon receive the full audit for the remaining contracts (some may wish to join only after all contracts are audited).
Oh, and by the way… you guessed it, I am creating a team, The Order Of The Apes. All team members that use my referral will benefit from the MAXIMUM kickback (75%). Remember you must join the order of Slime to get the kickbacks, the Bio Punks faction will not benefit from my preset kickbacks. In addition to that I will be doing regular airdrops of which I still need to finalise the details after launch and will scale on the basis of deposits to make it fair for all, again, only for those depositing under the order of slime. This is my first team building effort and I want to reward as much as I possibly can anyone who joins me on this adventure.
I have created a Telegram group, The Order Of The Apes, where I will answer questions and have prepared some shortcuts and pinned messages with the most important information and recurring questions. In addition, every week after launch, I will publish a short medium article to update you on how this investment journey is evolving and sharing any new information I have gathered on Ooze.
Looking forward to seeing you there! https://t.me/+qVANZi2AjkxjYzk0
Join now and help me answer the regular puzzle questions published by the team on their twitter feed to get on the presale whitelist. They have a very large presale whitelist which is not only good to get a chance to win a spot, but more importantly, it shows just how much they are thinking about sustainability and wanting to avoid the usual pump and dump these projects suffer right at the beginning. This means that whether you get on the presale or not, there should be ample time to get in after launch at a fair price.
Here below some links to help you do some due diligence :
Twitter — https://twitter.com/oozefinance
Website — https://ooze.finance/
Telegram — https://t.me/oozefinance
Discord — https://discord.gg/AufJ7t2gh4
Medium — https://medium.com/ooze-finance
YouTube — https://www.youtube.com/channel/UCeOPwhEMyw9iXI5zbnUdmng
Litepaper — https://bit.ly/oozefinance
The Order Of The Apes — https://t.me/+qVANZi2AjkxjYzk0
