The Olympus Post, Vol. V
May 22nd, 2022: Looking Up
How about we all just take a moment and look up to the sky. Just be. Take some time to absorb the experience and feel all of your senses activate — feel everything come alive. Breath everything out and then take a deep breathe to inhale all of the life around you. Allow that calmness, that deep feeling of relaxation, reign over you.
We must not get too worried, upset, or disgruntled at the current market and how it is currently moving. The price action of every coin is quite awful, with many coins — even blue chips — down 90% from their All-Time High (ATH). We see the top coin, the so-called digital ‘Store-of-Value,’ Bitcoin, down over 50% from it’s high.
What can we do — what can Zeus Finance do — to make this transitory period more, well…graceful? As you can all see, our team doesn’t stop even when the going gets tough. We refuse to back down and will continue to ship out products and financial services for the DeFi realm. Let’s take a look and see how it’s going for us.
Where We Have Been:
After weeks of non-stop action, we have finally been able to find a small period of rest, a little pit-stop on our journey before continuing forward. The last week wasn’t very eventful, but a few important events still took place. With that being said, we are still working behind the scenes and doing what we can to grow this ecosystem into the best decentralized financial suite available. Let’s see what’s happened this last week.
1st, we had another AMA, this time with our partner, Pangolin! It all took place on Twitter Spaces where we took on a ton of questions from Pangolin and truly got to speak about who Zeus Finance is and why we do what we do, all in front of their ecosystem and ours. Having this partnership opens up opportunities from other members in the Avalanche ecosystem while also introducing NaaS & DaaS into a community that may not have had much exposure otherwise. We can’t wait to see how this partnership continues!
2nd, the ‘Olympus Lottery’ was postponed this week because we didn’t have a ton of sales due to the new ‘Super Farm’ release with Pangolin. We decided to put it up for a vote with the community to see if the sales should go on another week and here we are! The lottery was extended a week! Make sure that you purchase your tickets for the next drawing, tZeusday, May 24th. Play here!
3rd, as a reminder, we implemented a new tax structure and added maintenance fees for node holders. Both decisions were for the sustainability of the protocol and note, we are only implementing new tokenomic structures that ensure the protocols growth so we can keep providing passive income. The new tax structure is supposed to incentivize investors to hold for a longer period of time and therefore ensure they receive more rewards by having a tax break. We introduced fees to help maintain the protocol’s longevity; we can think of these as service fees for our protocol providing you DeFi-as-a-Service — providing passive income for trusting us with your capital. These prices are subject to change and scale with the price of $ZEUS. We are currently building a ‘Pay All Fees’ button to simplify the need to choose each node individually to pay.
Where We Are:
We stay working. It doesn’t stop even during periods where it feels a bit slower; we are still doing what we have to do when it may not seem so. Trying to find a balance between life and work can get difficult, so finding the equilibrium that ensures our happiness while also keeping success in the forefront of our minds is no easy task.
Finding the balance in work while also attempting to wade through the volatile market is also not an easy feat. All of us, including you investors, are doing what can be done to make it through the dark. Here we are.
Rebrand: As I have already declared, our protocol is still in the midst of a complete rebrand into Zeus Finance. We have the new name, new logo, and already have some graphics we are working with for ads. A new homepage is on the way which will help attract new investors while making the current investors see the redesign progress in action. We are also still amping up our discord server, and that includes rankings, events, and games. The goal here is to become a decentralized financial suite for an awesome community and we want our image and vibe to represent that, but we are still in the middle of the transition. We are also looking to hire a Web3 Designer to help with implementing the full transition into Zeus Finance. If you know anyone, send them our way! You can DM me on discord.
Utility: We are still currently working on the first real phase of utility for $ZEUS — our Single Side Staking with the Stability Fund. But, before we release this, we wanted to provide some utility for $ZEUS so you guys can earn some extra income. As I’ve mentioned, we released the ‘Super Farm’ on Pangolin (learn more about it here) and it is still currently running. With the timing of this ‘Super Farm’ and the release of our Stability Fund, $ZEUS holders will find the utility for $ZEUS slowly building up, helping investors see the projection of the protocol. Utility is only increasing from here.
Where We Are Going:
Everything we do is to help our Olympians achieve real financial freedom.
Everything we do is to help our Olympians feel comfortable enough to help others in whatever way their passion drives them.
Everything we do is to help our Olympians ascend wealth.
Zeus Finance is reaching for the highest of heights — the peak of Olympus — and we can only do that with all of your help. We are so grateful for everything thats happened so far and are really excited to see where our journey leads. We are implementing a lot of changes to our business model and you are seeing that in real time. The communication of all of our moves well before the time of implementation is at play, remaining transparent with all of our thoughts and reasons why we are making these changes.
Our intention is to become the go to decentralized financial suite. We want investors to come to us knowing that the service they are paying for is everything they want and possibly even more! We provide passive income, so all of the taxes or fees that we have implemented are to make sure that those services continue.
So, what’s coming up for Zeus Finance?
Maintenance Fees: Allow me to remind you, we have implemented maintenance fees to nodes. These expenses are always in addition to the actual purchase price of an asset, so individuals and/or companies should be able and willing to handle the fee in order to keep their assets maintained and running for foreseeable future.
As a major reminder, I want to show what is next for fees and show the FINAL setup of our maintenance fees — all paid monthly, all paid per node, in Avalanche (AVAX) when the time comes:
Hercules: $1 Monthly Payment/Node
Hera: $2 Monthly Payment/Node
Zeus: $17 Monthly Payment/Node
Kronos: $125 Monthly Payment/Node
*Please note, all of these prices were calculated at the price of $ZEUS being $7.50 with a 15% Fee across the board. We do not think it’s fair to have the highest tier paying the least amount of maintenance fees. It is all proportional and based on monthly revenue.
Utility: The utility we are providing through our first decentralized financial product is essentially revenue sharing, but it benefits those that stake the most $ZEUS — true believers. Here, we are offering Single Side Staking (SSS) in a stable coin, one pegged 1:1 to fiat, $USDC.
I have provided plenty of details about how this works and we are still currently calculating the exact numbers like APR % and such, so please bare with us. With the price of $ZEUS so volatile, we are trying to measure the best way to go about this. The product itself is essentially built out, it is currently in testing, and we are still crunching numbers.
But, with that said, I do want to identify that the daily emissions of $USDC will be increasing with the amount of investors we see investing in nodes in addition to the revenue we bring in through investments. The more revenue we bring in, the more we get to share. So, the goal here is to have our protocol earn a lot! The more we earn, the more we share, which means more passive income for you! The more passive income we provide you, the more we achieve our goal — the more Zeus Finance fulfills it’s purpose.
Stake $ZEUS. Earn $USDC. Ascend Wealth. The utility is coming this June, 2022.
**Alpha: Ayyy, here it is. Alpha time for all you chad and chadettes out there. Let me get to it.
So, last week in the ‘Alpha’ section I got to talk about Chainlink, the leader in oracle services for cryptocurrency and a foundational protocol for the adoption of crypto into the real world. Well, now, I can officially announce that we are partnering with Chainlink and are integrating their products into Zeus Finance to help $ZEUS become a staple in DeFi. With their help, we will be provided with some marketing assistance through Chainlink which gives us access to being in front of their 1 million + user base. They have one of the farthest reaches in the crypto space, and we will now be a part of that reach. Chainlink is a staple within the crypto space because of the services they provide protocols.
Chainlink has three main products that they offer protocols to help with their growth and execution of the services they provide. Price feeds; they provide spectacular data for feeding price feeds. VRF; they provide Verifiable Random Function that enables smart contracts to access random values without compromising security or usability. Keepers; they provide back-end automation for various smart contract mechanisms. We are actually going to be integrating all three products into our protocol! This is major for us. Let me break down why we are partnering with Chainlink.
We are getting price feeds for the real-time pricing. In regards to maintenance fees, our fees are denominated in USD for our node holders, though paid in AVAX. Due to the high volatility of the market, relying on maintenance fees in the form of a flat AVAX value would not be beneficial. To combat this, we calculate node maintenance fees in USD, meaning users pay maintenance fees at a USD rate instead of a flat AVAX value. Chainlink’s ‘Price Feeds’ provide the real-time accurate pricing to our smart contract to support the calculation of these amounts. With this, and an updated UI, we also imagine that we can add in potential ROI per node and monthly calculations in real time on the updated dApp dashboard.
The VRF will work perfect for the random ordering processes. So something like this will be key for our Olympus Lottery, any upcoming potential NFTs(wait, NFTs?), and just other ‘Play’ mechanics that we have intentions on incorporating later on. This essentially protects our contract with tamper-proof randomness that cannot be manipulated by any user, node operator, or hacker. It’ll essentially help us grow our dApps user base by ensuring trustworthy and fair outcomes that are verifiable using cryptographic proofs. This is the industry standard.
Keepers will not be incorporated right away since it has not been released on Avalanche (TBD Q2) yet, but will be upon release. In regards to the background development and automated processing, this is where Keepers helps, and truly the main thing we desire. It basically automates smart contract functions in a decentralized, cost-efficient, and highly secure manner. This will allow us to reduce time spent on DevOps, eliminating automation infrastructure costs, and thus build faster and more efficiently. Keepers perform cost-efficient off-chain computations for smart contracts, allowing our devs to build dApps that are more feature-rich at a lower cost. Basically, LINK has tamper-proof, sybil-resistant nodes that sign on-chain transactions themselves, enabling automated smart contract execution without exposing private keys. This is about triggering our smart contracts to execute automatically based on specific times and schedules, custom computations, chainlink oracle data, any on-chain activity, and block number. Keepers is an amazing product and we can’t wait to integrate it.
This partnership will likely work magic for us, both on the dev side and on the invest-ability side. Having a partnership with a blue chip — one that is still in the ground floor of its overall development and infrastructure — will ensure that our investors know that they are getting involved with a serious protocol. For any investor questioning if the purchase is right with Zeus Finance because our partner list may seem small or non-existent, we now have both Chainlink (Foundational Blue-Chip Token) AND Pangolin (AVA Labs launched protocol) as partners. Plus, don’t forget our partners with Assure for our KYC and Gnosis for our multi-sig.
The partners will keep coming so that our ecosystem keeps growing. The future keeps looking brighter.
Hope you enjoyed this weeks alpha!
“Educating the mind without educating the heart is no education at all.” — Aristotle