The Olympus Post
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The Olympus Post

The Olympus Post, Vol. XI

July 3rd, 2022: $ZEUS In Demand

Greetings Olympians,

With the arrival of July, we are now officially in the third quarter of the financial year. As you know, with the arrival of the third quarter, comes the arrival of more changes on Mt. Olympus. Based on the current roadmap that we have laid out, we have some new utility coming to Zeus Finance within the next 3 months.

Though, as changes have already arrived since the first iteration of our roadmap, we are actually updating what that looks like moving forward. For those of you who were not able to make our second Twitter Space, we declared that we would have to go through a contract migration for the coin to ensure that we can scale appropriately. With the current tokenomic structure in combination with our current demand and vision, changes to the actual $ZEUS token must be made.

Now, with that being said, let’s move through this week’s post so that we can get to the details on what’s going on with our protocol.

Where We Have Been:

I think that it is safe to say that this last week contained of a lot of ups and downs for $ZEUS — an ebb and flow of volatility; a very normalized theme within the exchange of cryptocurrency. Our price saw explosive growth and then after some more bad press for the global economy, cryptocurrency, and therefore Bitcoin, we saw a fairly large decrease in price too — though, we are still up about 105% on the 14 Day Chart based on the time of this writing. Ever since the release of our single sided staking for $USDC, we have seen a lot less sell pressure and a lot more buying pressure, overall increasing our volume. I’d say this last week was generally a successful one for Zeus Finance, especially because of the major decisions that were made. Let’s see how it’s been on Mt. Olympus.

1st, our single sided staking through our Stability Fund has been going really well! We currently have over 315k $ZEUS staked in the vault, which is more than half of the current supply that is outside of our reward pool. This means that a lot of $ZEUS holders are staking and leveraging $ZEUS. This is about 315,000 $ZEUS not being sold for passive income, but staked instead! This is big!

Per announcement, we have decreased total daily USDC emissions based on the current supply within the Stability Fund. The first week we started at about 3,300 $USDC emitted/day and now we are at about 2,000 $USDC emitted/day.

Please keep in mind, we plan on scaling our business model and therefore increasing our profit as time moves on. We expect to increase our emissions again once we ensure that our profits are healthy and sustainable. We will be updating our community frequently about emissions, so always keep an eye open for that.

2nd, I’d like to say that we had a very serious meeting as a team this last week. Essentially, this meeting contained a bit more collaborative thinking than normal with a lot of healthy debate to advocate how we thought the protocol should move forward. The team had to make some major decisions in regards to the future of the protocol and how we should go about scaling in size due to demand of our native token and the vision we foresee for Zeus Finance.

This was not an easy decision; we were faced with various paths and had to choose the road that we felt led to success in the best way. As we have declared, we decided that we will move forward with an entire contract migration which would technically involve an entirely new $ZEUS token (an entirely new smart contract). This would be $ZEUS v2, very similar to what other token models end up doing for various reasons, such as advances in technology and new visions for their protocol. This would also require a 1:1 swap of the current $ZEUS with the new version of $ZEUS.

Basically, with the current supply of about 1 million tokens, in addition to no room for versatility in the current contract, it is seemingly impossible to move forward with the current $ZEUS token. 1 million tokens does not allow for us to scale appropriately and this would cause a failure in completing our mission as a decentralized financial suite that provides passive income to investors.

Now, we had thoughts of introducing a second token that could help $ZEUS out. We also thought of a two token model with the idea of removing nodes out of the business model completely, albeit at a slow rate. We also had a few other ideas, none of them actually amounting to anything special. So, after deliberation, we found that a one token system with a contract change would be the best way to go about moving forward. I will discuss the new model later in this article.

3rd, I’d like to just apologize again for the miscommunication that has occurred regarding staking. Many Olympians voiced concerns about changes in emissions that even the team wasn’t aware of based on internal communication, and we did not go about addressing these concerns in the best way.

Again, I just want to throw out a formal apology to those who were affected by our miscommunication and we are seeing these situations as growing pains. We are learning and we take responsibility for our faults. We always keep room for growth.

Where We Are:

Changes. Zeus Finance is in the midst of big changes.

I am not exaggerating when I say that we have discovered inherent flaws in the current Nodes-as-a-Service model and we are doing everything we can do change what that looks like, hence our transition into becoming a DeFi-as-a-Service protocol. We also feel like there is an inherently greedy foundation to business, especially within the financial sector, and we are here to change what that looks like, too. It makes no sense to us that businesses can profit billions of dollars (per month, mind you) and not even have the inkling to share most of those profits, even with the people that help their business flourish. Why not? This is greed at it’s finest. Through our $ZEUS token, we plan on sharing our profits. So, just as a reminder to all of you readers, Zeus Finance is here to bring changes to finance and changes to how sharing revenue works. So, let’s see what’s being done right now to make this happen.

Marketing: Keep in mind, our marketing does not stop! Morpheus and his team continue to look for partnerships and opportunities to have Zeus Finance continue to expand their influence amongst the decentralized financial community. We are still going to continue our ZeusSpaces on Twitter every tZeusday and we will also be holding AMA’s a bit more frequently, so get ready to hear more from us! We find that this is a really helpful marketing tool because it brings more transparency, more engagement, and overall more community building to our protocol. So far, we have really enjoyed what we have done and look forward to keep it going. Guests will be joining us! Get ready to welcome some new visitors.

But, I know, many of you are probably still curious about what’s going on with our marketing campaign. North Equities is still our partner and they are continuing their outreach to the expansive crypto community. Although based on the current results we are seeing, this is going nowhere near as successfully as promised. Based on looking at wallets and some other metrics, most of the increase in buying pressure comes from the internal work our team is putting out and we are attracting a small amount of new investors based on the utility that we build, and not so much on their outreach. North Equities has been clear that the outreach so far has not been very successful at bringing in new investors, though we have been able to gauge what it is that makes investors want to invest in crypto (during this bear market) based on the information that they have provided. We are going to keep growing our connection with NE so that we can hopefully finish out that campaign stronger than it has started. They continue to create content for us and we will continue to deliver that to our community. Stay tuned.

Marketing, in regards to Chainlink, was put on hold for us due to our Chainlink ambassador becoming sick, unfortunately. He had not been with us this last week and therefore we were unable to get marketing with Chainlink accomplished. Though, we have the full expectation that Chainlink will begin marketing this week once our ambassador returns to work from his illness. As per our contract, Chainlink is due to market us as soon as we are on-chain — which we are now. With the marketing from Chainlink, many new eyes will become aware of our existence and we hope that this partnership brings in as much volume as it does efficiency, to our protocol. We will be sharing the content they post about us, so stay connected.

Utility: Build and deliver. Thats what we believe in.

Though, part of being transparent is also delivering messages — in between building and delivering — to the community about our vision and what is being done to accomplish that vision. We can’t just build and deliver. Investors like to know what’s going on, so there is a fine line between what we can communicate and what we deliver without creating impatience, an illusion, or false hope.

So, allow me to talk about what we are currently working on but within the next section — Where We Are Going. It feels like it belongs there; I’ll lay out our new vision.

Where We Are Going:

A safe, profitable decentralized financial suite to store your capital. A place you come to ascend wealth.

That’s what Zeus Finance aims to become. We have been pretty clear about this; our actual goal, the purpose has not changed. Though, the path to reaching our goal is definitely transmuting. Originally, we intended on releasing our first product, The Stability Fund with single sided staking for $USDC, and then continue on the roadmap we laid forth. This roadmap included introducing memberships and single sided staking $USDC for $USDC. It also included, following that, NFT’s that provided bonuses for rewards in addition to creating a marketplace to trade those NFT’s, plus trading and selling nodes.

But, with the release of our first product, and reviewing our tokenomic structure and current monetary policy, in addition to seeing the demand and vision for $ZEUS’ future, we are now in the position where we should truly pivot. We had a lot in store for 2022, and we still have a lot in store for 2022, but the roadmap is changing, the checkpoints are changing, and the overall vision on how to move forward is new. We actually see this as an amazing opportunity to introduce brand new ideas that DaaS has never seen, and we are excited to see what these changes to Zeus Finance may bring.

Below, I will provide some alpha in regards to what our vision now entails, before we release a brand new roadmap in the upcoming week.

**Alpha: Currently, we have two main priorities: Fixing the Tokenomic Structure & Increasing Forms of Revenue. Those two priorities must be completed to ensure that we can continue to scale appropriately and also succeed in our goal of providing passive income with you in mind. The goal is to have our investors ascend wealth, and they wont be able to do that if we can’t scale from here. We want to complete these two priorities simultaneously so that we don’t waste any of our time and resources; it is important we get this done right, we don’t get many opportunities for second chances. This opportunity must not be wasted.

The current vision, moving forward, will be to have a one token business model with a contract change. With these changes, we see many benefits compared to the current tokenomic structure.

The benefits of the contract change include, but are not limited to:

  • Improved versatility due to the ability to inflate and deflate tokens, adding to the current level of game theory & behavioral economical models involved in receiving passive income through our protocol. This allows our protocol to expand its capabilities, giving us much more power over monetary policy.
  • Allows for bonding — the minting of new coins, creating inflation, giving the protocol the opportunity to scale at a slow, efficient rate based on demand, not potential forecasts.
  • Allows for reverse bonding — the buyback and burning of $ZEUS, creating deflation, giving the protocol the opportunity to efficiently sustain supply and demand, ensuring that $ZEUS maintains buying power over longer periods of time.
  • Allows for the introduction of innovative, experimental burning mechanisms which help increase the value of $ZEUS. For example, burning $ZEUS for a 30 day bonus APR on staking.
  • This route lets original investors keep their nodes instead of getting rid of them completely.
  • Removes tax tiers for nodes.
  • Keep fees for revenue.
  • Revenue originating from our DeFi Services based on the new contract: Bonding, Node Fees, DEX Transaction Fees, Deposit Fees, Membership Fees, NFT Sales, and Lending.

The drawbacks of the contract change include, but are not limited to:

  • Mainly — the transition, which likely includes an abrupt change including,
  • A requirement of a 1:1 token swap, meaning investors will be required to unstake, migrate, approve contract, and stake again, incurring fees in gas.
  • Possibility of diluting original $ZEUS supply for those holding, decreasing value. We will not be increasing supply too fast or by a large amount, likely inflating to about 10 million tokens or less, just allowing for scalability and flexibility.
  • Nodes are still attached to the contract and protocol, there is an increasingly poor sentiment around ‘nodes’ and protocols that provide ‘Nodes-as-a-Service.’

We see that through a contract change, we can accomplish both of our priorities at once: fixing our tokenomic structure and increasing our forms of revenue. Through a contract change, we fix our tokenomic structure by introducing versatility and increasing our supply, allowing us to scale appropriately. Through a contract change, we introduce new forms of revenue by introducing bonding upon release, which will help us build our treasury and reinvest in yield producing assets quickly, increasing our profits, which means we can increase our $USDC emissions.

Essentially, this means that utility upon the release of $ZEUS v2 includes:

  • Invest: Purchase nodes with $ZEUS, earning $ZEUS as rewards
  • Earn: Staking $ZEUS for $USDC, profit sharing
  • Bonding: Sell Tokens to Zeus Finance for $ZEUS at a large discount
  • Play: Exchange $ZEUS for Olympus Lottery tickets for a chance to win, multiplying rewards

After the contract change, we will be releasing our DEX, and then moving into releasing the memberships, which will include members having the opportunity to stake $USDC for $USDC amongst other benefits yet to be covered. By the beginning of 2023, we expect to have $ZEUS utility to include:

  • Invest: Purchase nodes with $ZEUS, earning $ZEUS as rewards
  • Earn: Staking $ZEUS for $USDC, profit sharing
  • Swap: Trade & Farm Tokens, A Decentralized Exchange
  • Membership: Become A Member, Unlock DeFi Services
  • Bonding: Sell Tokens to Zeus Finance for $ZEUS at discount
  • NFTs: Collect Artwork, Earn Bonus on Yield
  • Play: Exchange $ZEUS for Olympus Lottery tickets for a chance to win, multiplying rewards

For now, this is all of the information we want to provide you guys with this week. For more details, just keep your eye out for upcoming articles and come join our ZeusSpaces and AMAs! More information will be released as the time for change dawns upon us.

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