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AMA Satoshi Club x Olympus, July 17th

We were delighted to welcome our guest from Olympus. The AMA took place on July 17th, 2021 and our guests were @gabefather @pathfinderzips @John_Tools!

The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Gold Rocket | Satoshi Club: Greetings dear Satoshi Clubbers!

Today our guests are from Olympus: @gabefather @pathfinderzips @John_Tools!

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Hey guys! Good to be here!

Mary Satoshi Club: Welcome here

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Its awesome to be here. @John_Tools is actually away this weekend, but me and gabe are here and super exicted. You guys do the best AMA’s by far.

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, guys! Thanks for joining

Mary Satoshi Club: Awesome

Gold Rocket | Satoshi Club: We are also very excited about the upcoming AMA.

Gold Rocket | Satoshi Club: Let’s start!

Introduce yourself please. How did you get to be involved in crypto & Olympus?

Gold Rocket | Satoshi Club: Tell us please also about your position in Olympus?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Sure! So I’ve been involved in crypto since college back in 2012. I wish I knew what happened to the bitcoin I held lol. Then again heavily in the 2017 bull run. But when it comes to BSC I got involved back in February. I’ve known and been friendly with JohnTools since BogTools launched. I was a launch buyer. I went on to help run the animal charity coin Bingus, as it was a community coin but needed someone to manage the charity wallet(which is relaunching with a new contract, very long story). John helped quite a bit there with a few things.

Through running that I came to meet Gabe through an odd series of events and come to respect him and we saw eye to eye on a number of things. Through talking with John about some ideas about a new contract for Bingus, we came up with a ton of the ideas for Olympus accidentally. Then I had John and Gabe meet and well… They got along and they started working together on what would become Olympus. That was about 8 weeks ago now I believe.

I’m basically the community manager at Olympus. I’ll be the one you interact with most in the chat, relaying messages from the team working on things, and sending messages back to the team from the chat. You’ll often hear me in the voice chat answering whatever questions I can, or just hanging out with the community.

TheGabeFather (WILL NOT DM FIRST): Hey, Gabe here, I am the head of marketing for Olympus. I became involved in Olympus after meeting John, and we decided to become the main devs for Olympus. I became involved in crypto mainly when BSC started to become popular, and after seeing the power that BSC gave to smaller investors I became even more interested in being involved in its ecosystem.

Mary Satoshi Club: Oh, 2017

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Yup! that was a wild ride hahaha.

Mary Satoshi Club: Did you thank Olympus gods for your meeting?

Mary Satoshi Club: Yes, but actually 20–21 also were wild till now

TheGabeFather (WILL NOT DM FIRST): Haha absolutely

Gold Rocket | Satoshi Club: What is the essence of Olympus?

Gold Rocket | Satoshi Club: Main idea

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Sure! Ill snag this one Gabe.

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: In short, the too long didn’t read, Olympus set out to innovate on all the best tokenomics that BSC has to offer, take them all a bit further and be a utility coin for coin teams as well.

Olympus is first a BUSD reflect coin, it was the first of its kind actually. It reward holders in BUSD(4% tax) right to their wallet, just for holding.

It is also a whale buyback coin, as there is about 700 BNB our whale, who we like to call Zeus(4% tax). The whale buyback can be triggered both manually or through some clever programming by JohnTools, as it is using BogTools tech to do it’s automation.

Another thing that makes our from scratch written contract unique is the Dynamic Auto Liquidity(4% tax). When liquidity is above 25% of the market cap the liquidity tax flows instead to the whale, rather than liquidity. So right now Zeus is getting 8%, rather than 4% which is fantastic.

Finally, the last thing is our Hades Tax, after Zeus makes a buy the taxes are doubled for sellers for 30 minutes. This is to stop bots (and others) from simply using Zeus buys as sell events, which could quickly drain the whale. So when a large holder trys to dump during a Zeus buy… well Zeus gets 16% and all holders are rewarded with 8% BUSD reflect instead of just 4%.

On top of all that we have utilities for coin teams coming, a clever liquidity locker, a vesting tool and also some beautiful greek god NFTs which will allow for gamification of tokenomics for holders, like controlling the Zeus buyback!

Mary Satoshi Club: So many gods features

Gold Rocket | Satoshi Club: Thanks for the great introduction, we will have a question selected for the Part 1. Ready to start?

TheGabeFather (WILL NOT DM FIRST): Yep

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Ya some really fun and cool stuff coming. For sure bring on questions!

Gold Rocket | Satoshi Club: just introduce us to these features in more detail

Q1 from Telegram User @NataliyaKil

According to the roadmap, you plan to launch three Pillars in the coming months:

1st Pillar: Locker of Ananke,

2nd Pillar: Wheel of Kronos,

3rd Pillar: Shield of Athena,

4th Pillar: Lightning of Zeus.

What are Pillars in the Olympus ecosystem, what features and implications do they have for the project, team and different categories of Olympus users? How many Pillars are planned and what does their number depend on?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Sure! Would love to.

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: 1st Pillar: The locker of Anake will allow teams to lock the liquidity raised from their IDO in an innovative, safe, and transparent way. Instead of simply locking the liquidity through a classic smart contract, the Locker of Anake will store and lock the liquidity within an ERC721 token (NFT), allowing his owner to move it from a wallet to another and always keeping the unlock schedule.

It will also allow projects to split the locked liquidity into multiple NFTs held by different team members. That feature is not only convenient for teams so they can share the liquidity’s responsibility in case of a wallet loss/hack but also very convenient for investors who always fear the moment the liquidity unlocks. Indeed, having the liquidity split assures investors that one single person cannot rugpull an entire project.

Moreover, if the project is transferred to a new team, the previous liquidity owner(s) can sell the liquidity to the new team.

Believe me, as someone who has locked liquidity before on DXsale, as I’m sure Gabe has felt as well, this methodology will be wildly more effective. It’s one of those things we as people who have worked on coins have seen time and time again that we needed.

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: 2nd Pillar: The wheel of Kronos allows a project to vest tokens for teams, influencers, or anyone of their choosing to have them automatically locked and doled out based upon a pre-defined time frame.

Same as the Locker of Anaka, the Wheel of Kronos will store and vest the specific tokens within an ERC721 token (NFT). That way, team members/influencers can transfer their vested tokens from a wallet to another and or even split them into multiple wallets.

I believe this is going to be a groundbreaking tool. One of the largest issues in crypto right now is influencer marketing. This tool will be available to let teams pay influencers in a transparent way over time, and allow holders to track the funds. For example the SaveTheKids disaster could have been avoided if there was an expectation for teams to pay their influencers using the Wheel of Kronos so that holders could feels safe that the influencers actually were interested in the coin, not just dumping on their fans.

Mary Satoshi Club: Really useful feature! Do you already have those who want to lock liquidity using it?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Well actually… yup. A few people I’ve talked to would like to use it. Including the dev behind the new version of Bingus.

Mary Satoshi Club: We love Bingus

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Utility is truly the way forward to survive a future market that may not be purely driven by hype.

Gold Rocket | Satoshi Club: By the way, they were at our AMA. Good guys

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Aw thank you.

Mary Satoshi Club: Cool idea

Mary Satoshi Club: I like this, sure it will be using often

Gold Rocket | Satoshi Club: 3rd Pillar?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Finally the last two that we have announced are more fun for holders, gamifcation of our tokenomics.

Mary Satoshi Club: Wow

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: 3rd Pillar: Acquiring the Shield of Athena NFT will protect you from the taxes for one single purchase.

Make the right call and get the shield of Athena to turn a 14% purchase fee into a tax-free buy.

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: 4th Pillar : The Lightning of Zeus NFT will grant you a unique chance of controlling Zeus’ power. You will be able to trigger one whale buy with this.

Mary Satoshi Club: How it will look in practice? Can you give us an example?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Sure! So the plan as of now is that not ALL of the NFT’s sold will have these abilities unlocked. We don’t want sell the NFT’s only to the very wealthy, we want to give everyone a shot. So some will randomly, and very rarely have these abilities enabled. So they will be sold for BNB, which will flow into Zeus, which will be used to buy back and burn the coin.

Having the shield in your wallet for example, that has the ability enabled, will allow that wallet for one buy with no or extremely reduced taxes.

Mary Satoshi Club: Gotcha, really cool

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: The Zeus NFT triggering the whale buy will likely need a little more of finessing, user expereince/ interface-wise. Which it will deserve, as that might be the coolest thing ever as a holder, triggering a whale buy.

Mary Satoshi Club: Guys, you have well thought and hot Pillars!

Mary Satoshi Club: Thank you for your clear and detailed answers! Ready to proceed?

TheGabeFather (WILL NOT DM FIRST): yes!

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: For sure! Ill let @gabefather handle the next few

Q2 from Telegram User @DK177

According to your roadmap, you have planned to reach 10,000 holders mark within this month. How many users have currently joined with you? Your goal is to make 50,000 holders by August and 100,000 holders by September. Even if you reach 10,000 mark in this month, you have to make it 10x within two months to achieve this goal. Do you think this is an achievable target? What steps have to already taken to attract the holders? What makes us to hold your token over other tokens? Have you introduced any special rewards for holding $Olympus?

TheGabeFather (WILL NOT DM FIRST): Currently in our telegram we have about 16,000 membhers

Yes we definitely think it’s achievable, with most of our developments being released in the near future and many other exciting announcements taking place we hope that it will really benefit us. In general, our tokenomics, NFT development, contract developments, marketing, as well as partnerships have really been released fast, and we believe this has attracted the most amount of people so far. Olympus is a token that has been designed to be a long term hold, with large tax fees, BUSD reflections, and the Zeus buyback to store BNB that will later reward long term holders. The most special reward that we currently have implemented into Olympus is the BUSD reflection, and with the release of new developments we can expect larger volume, meaning larger reflections.

Mary Satoshi Club: But if cryptowinter will come? Usually in such periods activity is low

do you have plans for cold times?

TheGabeFather (WILL NOT DM FIRST): Haha yes for sure. Our constant developments will be the key here. NFTs that boost volume, exclusive events, and prestigious centralized exchange listings as well as a dedicated team!

Mary Satoshi Club: You will shake this times

i got

Mary Satoshi Club: Thank you for your answers! Ready to jump to the next question?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: If there is indeed a cryptowinter (good term), I believe people will still want to launch new coins, maybe less, and less pure hype coins, but with our utilities I can see the coin being able to survive such a colder time in crypto.

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: For sure!

Q3 from Telegram User @andrey_seleznov

I’m Intrigued by the phrase you dropped on the website “a Pantheon of NFTs are on their way down from Elysium.” Please share with us some detail about your excinting plans involving NFTs! With Zeus and Poseidon depicted can we expect most or all of the NFTs be based on the Greek mythology? Are you planning to develop your own NFt marketplace and will the NFTs have functionality and real use cases like boosting reflection and pool yields and such? Thank you!

TheGabeFather (WILL NOT DM FIRST): A marketplace not so much. Rather the gamification of NFTs built to interact with our contract. Each of the NFTs released will have a specific and special functionality that interacts with the contract in a unique way. Everything from boosting reflection, reducing fees, influencing Zeus, and possible combos that all can be achieved through owning the NFTs. It is really a cool feature that will make Olympus stand out from other tokens in the near future.

Mary Satoshi Club: Can you show us your NFTs?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: ^ Exactly. And as such heres a little sneak peak at the Lighting of Zeus NFT that can trigger a whale buy. Its still a work in progress but for your community we can show it off a little early.

Mary Satoshi Club: It looks so powerful

Gold Rocket | Satoshi Club: I love this one

Mary Satoshi Club: Will they be burned after they triggered?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: As far as the plan goes now, the abilities, indeed, most are planned to be single use. However the art will still be your NFT to keep.

Mary Satoshi Club: Awesome!

Gold Rocket | Satoshi Club: Thanks for your great answers

Mary Satoshi Club: Thank you for your answers! Ready to go to the next question?

TheGabeFather (WILL NOT DM FIRST): ready here

Q4 from Telegram User @lgy0813

the busd of the dividend pool is drawn from the pool. If the giant whale enters the game, will he suck all the busd of the dividend pool?Only with constant transactions can the project’s mechanism be more attractive. Entering the Giant Whale will increase the value of the coin, but the dividends may be reduced for those who hold the average share. If the project cannot enter people , How does the project carry out the project value promotion? Will the project party participate in the promotion?

TheGabeFather (WILL NOT DM FIRST): Definitely not. In fact with time your percentage becomes more impactful due to our high burn rate funny enough. The more that is burned, the more your percentage becomes valuable, and thus the more you earn in BUSD. Whales help increase volume, and thus burn rate, and will never be able to buy enough to impact your percentage that much. There will always be supply and demand, as well as redistribution/accumulation of tokens in general, so through the natural market sentiment, as well as the release of our developments, this is how we plan to sustain new buyers, as well as volume in general.

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: We’ve actually already burned more than 20% of the supply though Zeus buyback and burns. Which has increased everyone’s overall share quite a bit.

Mary Satoshi Club: What is your token ticker?)

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: OLYMPUS

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: We went for the full word

Mary Satoshi Club: Where we can get it now?

Gold Rocket | Satoshi Club: By the way, share your tokenomics.

TheGabeFather (WILL NOT DM FIRST): Pancakeswap, Bogswap, and Poocoinswap!

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Currently its on Pancakeswap, but in the near future we should be listed on a CEX.

The easiest way to buy or sell though is though our website. Olympustoken.io as it has bogswap embedded in it.

TheGabeFather (WILL NOT DM FIRST): as well as 1Inch DeFi aggregator

Gold Rocket | Satoshi Club: sounds good

Mary Satoshi Club: Ohhh, perfect!

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Sure!

4% tax for BUSD reflect (Plutus)

4% tax for Whale Buyback (Zeus)

4% tax for Dynamic auto liquidity which flows to Zeus when not needed (Posiden)

2% for marketing and dev fund

All of these are doubled after a Zeus Buy Back (Hades Tax) for 30 minutes which is to discourage people from simply selling the whale buys. And if they do, well holders just made 2x BUSD for 30 minutes

Gold Rocket | Satoshi Club: Great! thanks for sharing

Gold Rocket | Satoshi Club: Ready for the next question?

TheGabeFather (WILL NOT DM FIRST): yep!

Q5 from Telegram User @NSZR1

On the Godnomics of your project a 4% of each transaction will be used by The God of Wealth, Plutus to reward the worshipers of Olympus, rewarding their fate with 4% of each transaction wich will be converted to BUSD and sent automatically to the wallets of the followers of Zeus. I would like to know how this system of mercy of the gods will work, these rewards given to the followers of Olympus will be granted immediately, daily, weekly or monthly? I would also like to know why the gods decided not to give these rewards in the form of $ OLYMPUS?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Sure! These rewards are triggered automatically to a holders wallet once they hit 1$ in BUSD. So it could be hourly, daily, weekly, or monthly depending on how much you hold and the volume. The reason the contract waits until 1 BUSD to send is that it needs to be worth the gas fees to send.

We have a dashboard coming VERY soon which will allow you to see your rewards and trigger them yourself if you wish. It will also allow you to see the current Hades tax, how much BNB Zeus has stored, and the ability to re-invest your BUSD reflections to compound them.

Finally, the reason we chose BUSD is that most of the time, reflections of the coin you’re holding is just a psychological trick to get you to hold. The coins you’re getting are just a way to trigger some dopamine in your brain so you don’t sell. And to get any real value from the reflections you have to sell them. We figured, let’s cut out the manipulation, and give holders real value in the form of something never done before. BUSD reflections

Gold Rocket | Satoshi Club: this is very smart

Mary Satoshi Club: As i understand you already started this 4% distribution, right?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Yup! Since launch I think we have had about 900,000 in BUSD reflections.

Mary Satoshi Club: Wow, nice number!

Mary Satoshi Club: And what is usual time of distribution now? Weekly?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: If you have a small amount, it may be weekly, larger it could be hourly.

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Depends on when you breech the 1 full BUSD in rewards.

Mary Satoshi Club: Gotcha! Thank you for your answers! Ready for the 6th and last question from this part?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: For sure! Lets do it

Q6 from Telegram User @MCBTrade

While examining the OLYMPUS project, I saw that you have completed many stages in less than a month and have a very fast development process. DappRadar You have already reached several milestones, including a CoinMarketCap listing, a pre-listing on CoinGecko, and a set of 6,000 token holders, and it’s a great start to have many events back-to-back such as Banner ad, Meme Contest, Influencer Support, Social Media campaign. To what do you owe such rapid progress? What is the share of factors such as the experience of your team and the dynamism of your community in this acceleration of progress? What are the differences between you and projects that cannot do in a year what you do in a month?

TheGabeFather (WILL NOT DM FIRST): Our team is built of a lot of experienced individuals to say the least. Our combined knowledge and connections are the biggest contributing factor to having these speedy results. I guess our main difference is that we strive to do projects that will last in the future, and we do our best to maintain our reputation within the community by creating ecosystems where everyone has a fair chance of being a part of our projects.

Mary Satoshi Club: Do you have some partnerships now?

TheGabeFather (WILL NOT DM FIRST): Mainly we have been branching out with influencers as well as other platforms, and are still working on details with a few of them, but shortly put we are open minded and are always striving to have more partnerships.

Mary Satoshi Club: We will wait for exciting news from you

Part 2 — live questions from the Telegram community

Q1 from Telegram User @surendra040

Many projects are being abandoned once they start with good impression and some of the projects couldn’t long last run.Does your team have an experienced team background and how big is your team?

TheGabeFather (WILL NOT DM FIRST): Yes, we all have been part of projects that we still are working on. We know what it takes to be in the hard times of a project and just keep on working. And by all means we will be working on Olympus till as long as it takes

Q2 from Telegram User @Munu2015

How much is the pre-sale liquidity #Locking period?

TheGabeFather (WILL NOT DM FIRST): Locked for 1 year!

Q3 from Telegram User @Chinthaka93

You have mentioned that “Currently its listed on Pancakeswap” When are you plenaing to list on a major cex? Because it is not enough to list on pancakeswap to attract more investors.

TheGabeFather (WILL NOT DM FIRST): We have plans to be listed on a CEX really soon, and a really prestigious one at that!

Q4 from Telegram User @Ratash97

What are you intending to do to achieve the 10k holders goal you set up for july ?

TheGabeFather (WILL NOT DM FIRST): Release our dashboard, NFTs, CEX, as well as partnerships and influencers

Q5 from Telegram User @cryptoamee

You have mentioned that “Hold Olympus, Earn BUSD”. Could you please explain about this? How can I join this? In which wallet should I hold OLYMPUS to eligible for this?

TheGabeFather (WILL NOT DM FIRST): Yep, so basically after buying Olympus you will passively farm BUSD collected from every transaction. You don’t need any special wallet, it will will accumulate within the wallet that you bought Olympus with!

Q6 from Telegram User @doithay1617

Olympus is a BSC token with dual BUSD Reflect & Buyback system designed to incentivize long-term holders with hourly rewards. So will the holders receive the BUSD automatically or do they need to claim it?

TheGabeFather (WILL NOT DM FIRST): BUSD is rewarded automatically, but it can also be manually triggered by any transaction, no matter how small it is!

Q7 from Telegram User @Cuthbert283

Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is it like this? If not can u tell us, What makes it different from other projects?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: I think beyond the stellar tokenomics and roadmap… the fact that we have a team that has been involved with other projects and the experiece that brings should give people confidence.

And on the utility side having someone like JohnTools from BogTools working on the project long term, I think is really really special.

Q8 from Telegram User @Asela1112

How will we get these NFTs, should we have $OLYMPUS or $BNB to buy NFTs?

TheGabeFather (WILL NOT DM FIRST): The price and way of purchasing is still being decided, but most likely it will be olympus, or a combination with BNB

Q9 from Telegram User @Mirabellls

Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place?

Mike — Bingus — Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Sure! we have already been audited by both the full TechRate audit, and DessertSwap. We will be doing further audits in the future as the contract evolves with our utiltiies and NFT’s.

Q10 from Telegram User @Ishan1_7

I learned about your project,and I’m very interested. But, before I invest, I’d like to know if you’ve conducted any security audits.

TheGabeFather (WILL NOT DM FIRST): Yes, we have an audit with Dessert Finance which can be checked out on our website

Part 3 — Quiz Results

In the final part we tested your knowledge in terms of Olympus. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.

For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners:

Olympus Website — olympustoken.io
Olympus Telegram — @OlympusOfficial

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