OMS Finance
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OMS Finance

OMS Finance AMA with Gem Cartel

On Saturday, May 29th 2021, the OMS team had the pleasure to join Dr Steve Nakatomi and El Crypto Chapo from Gem Cartel for an AMA session:

INTRODUCTION

Q

Hey everyone, we’re about to mute the chat and welcome in our guests for today from OMS.

Can you kick us off by just telling us a little about yourselves? Background? How have you got here?

A

We’re part of a team of 9 right now and from multiple backgrounds and business sectors with more than 80+ years’ experience in leading businesses in the banking, corporate finance and technology space.

Our lead developer was the principal dev for one of Australia’s largest banks, leading a large team of developers.

We are all crypto enthusiasts who have been in this space since the early days of bitcoin and have always had a vision to create our own crypto ecosystem.

Q

Give us the elevator pitch on your project — high level.

A

So, we’ve designed a new protocol that powers an innovative DeFi ecosystem. There are three parts to this ecosystem. The first is the OMS token which is to be listed next week on Uniswap. This is an ERC20 elastic token designed to rebase (inflate/deflate) supply against the percentage of supply held and always correlates to the USD at a given point in time.

The second is the OMSX token. This token will provide holders with a share of future revenues generated through the ecosystem which will come from two ways. First through OMSX transaction fees similar to the reflect model. And secondly from revenue generated through the OMS Asset Index.

The final element will be the OMS Asset Index, (AI). This will create a fully de-centralised derivatives trading platform to speculate on price movement of any asset in any class.

Q

So, what was the inspiration behind creating this solution? was there any one ‘ah-ha’ moment?

A

The trading of some assets is restricted to certain types of investors, for example it is not easy to speculate on the price of a commodity like a metal such as Lithium.

This space is booming! And research shows it’s only warming up! On a busy day, over $100 billion in these derivatives are traded, rivalling the daily volume traded in the New York Stock Exchange.

Our platform will service investors who seek to trade in this space.

We want to open up real world trading in the Crypto space.

Q

Have you found people being sceptical of crypto derivatives or is there a real demand waiting to be addressed, especially as it relates to US/EU investors.?

A

There are a projects that are highly successful in this space (Synthetix and Injective), but our difference is that we will provide a platform where holders can add liquidity to a derivative trading pair (for a fee!) — think Uniswap for derivatives.

Q

What do you see as some of your biggest challenges going forward, especially around adoption and product development?

A

The team is working through a complex regulatory environment, with derivatives trading highly regulated in some countries. This does not impact OMS as there are plenty of elastic supply coins are already out there, but more the launch of OMS AI.

Also, market data feeds can be hard to integrate, and we have started discussions with the Chainlink team on price oracles.

Q

gotcha — just always good to understand the challenges and obstacles that are on the road ahead. great to hear you’re staying aware and working the problem!

A

The tokens themselves are not complex. The OMS token is an elastic supply token (similar to Ampleforth) , elastic supply is being used to provide relative price stability to liquidity providers.

Q

So, what is your go-to-market strategy when it comes to getting user adoption? are you looking at marketing, partnerships, etc

A

We have already started discussions with the Chainlink team re price feeds and we are also about to kick off discussions with AAVE to support the OMS Reserve which will be a yield generator for OMS liquidity providers.

Fair to say that our focus has been on getting the system developed, but we have a number of marketing channels in both traditional finance (this is where the experience helps!) and crypto through community development.

Q

What would you say you’re most excited about in the coming week or two?

A

We are working through our public sale this week which can be seen here https://presale.oms.finance

And getting ready for launch on Sunday 06th June 2021. Following that we will be launching our staking program.

Q

How are you looking to reward the community?

A

We are constantly looking at ways to reward the community. The OMS reserve will be seeded with USDC by the team and used for automated yield generation providing additional rewards to the typical staking programs that are used in this space.

Q

Well i think we’re getting a good idea of everything you’re bringing to the table. Is there any key points we’ve missed thus far?

A

The ecosystem to date has been audited by Certik. In addition, the team will provide locked liquidity for 12 months and will commit funds to the OMS Reserve. The Reserve funds are permanently locked, providing long term value to the community.

Q

I’m sure we’ll have some questions at the end if you can stick around, but want you to hit us with the main themes.

A

The final theme OMS combines the benefits of Elastic Supply including relative price stability with innovative yield generation and token utility that will continuously build value.

Derivatives trading is not for everyone. But the value proposition for holders is simple — you buy and contribute to liquidity (simple staking) and you will be rewarded with a return which grows through the use of a platform that provides truly decentralised access to a broad range of real-world markets.

Q

So to make your last pitch — your ‘ape case’ if you will — why should people have to run out and buy OMS at launch, what would that be?

A

Put simply early buyers will be rewarded, OMS will return 80% of all fees to the community through OMSX (think of OMSX like Forth), the distribution of OMSX will be similar.

To provide a sense of the fee structure and future valuation — OMSX will have a supply of 50,000 tokens, 1 million dollars of fees per day would result in a yield of $20 per token per day.

Q

The volatility these days is screaming for derivatives, and i think you all are on to something big.

A

Thanks, just a final message we believe we are building something unique that will have long term value, We are launching on Uniswap next week and welcome all of you on the journey.

Q

Hey guys, I don’t think it was touched on much, but can you tell me more about the staking? What the rewards will be like etc. I only really invest in projects with great staking opportunities. Any ideas of the possible APRs we could expect?

A

The staking contracts will be introduced shortly after launch. They will be designed to be self-sustainable and add liquidity for the AMM. The yield for these contracts will have some of the most highly competitive APR rates.

OMS token holders will also earn yield through our Reserve.. The Reserve is a store of value based on an initial locked supply of 25% of the USDC raised through the Presale. This store of value will be invested in Aave lending contracts resulting in an immediate generation of compounded interest earned. Interested is then incrementally paid to OMS liquidity providers.

Q

Is the OMS team anon? And if so any plans of going public or Kyc’ing eventually?

A

The team for personal reasons has opted to remain anonymous at this point. We understand the need for transparency and have endeavoured to make the project as secure as possible for investors (locked liquidity and security audits), however the team is working through several regulatory options in the hosting and location of OMS AI and at present feel it is best to remain anonymous until this is completed.

Q

Intriguing to say the least. Excited for you guys and congrats on the progress. I am wondering…. does the project actively look to educate people in the space?

A

We have a medium channel https://medium.com/oms-finance and have several posts there, we are looking to add more content to educate the community in the coming weeks.

CONCLUSION

Thank you to Dr Steve Nakatomi and El Crypto Chapo from Gem Cartel.

You can check out our website for more details. You can also follow us on Telegram and Twitter to keep up to date with all things relating to OMS Finance.

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Open Monetary System (OMS) is a decentralised finance ecosystem designed to leverage elastic supply mechanisms to allow for exposure to derivatives of real-world assets. OMS is a truly global open monetary system.

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OMS Finance

Open Monetary System (OMS) is a decentralised finance ecosystem.