The Olympus Post, Vol. XII
July 10th, 2022: Finding Stable Ground
This last week was pretty low-key for Zeus Finance in regards to things that we will be reporting about. Over the last week or so, we have definitely found some stability and have been ranging between $0.40 and $0.50. We have also been seeing a very steady, healthy increase of $ZEUS staked into the Stability Fund, with about just over one-third of $ZEUS’ total supply now staked.
Now, of course we enjoy the ‘stability’ that the Stability Fund has brought Zeus Finance, but we are also doing everything we can to increase the demand for $ZEUS with other utility and therefore, increase the value. With an increase in value, more revenue is generated. With more revenue comes more profit sharing, which then brings in more demand. You see how this works? It’s a cycle, an ecosystem, an economy.
Let’s take a look at how we are and how we will make sure this cycle stays active.
Where We Have Been:
Talks continue. The pantheon stays active. Olympians debate amongst themselves about the best path moving forward.
Not much news or releases came this last week, making this last one more quiet than usual; especially when compared to last weeks Olympus Post, where an entirely new vision was laid forth. But, we all know the saying: there is always a quiet before the storm; Zeus likes to surprise us all.
This last week we only had a few things to take note of.
1st, our Stability Fund has been going strong and as of this writing, we have about 342,000 $ZEUS single sided staking. About a third of the supply has been leveraged for $USDC! We have some smart investors out there!
For those of you who are worried about the supply — you can reference last weeks article to get some clarity. Essentially, we are adding some changes to our contract and will be introducing a bonding mechanism for $ZEUS. This will allow us to slowly increase our supply at a healthy rate while simultaneously increasing our treasury.
2nd, we slightly increased monthly maintenance fees due to the increase in average price over the last month. We are still watching the price to ensure that our investors stay in profit while holding nodes. Remember, all fees are paid in $AVAX. The new, updated prices of fees have been changed to:
Hercules Tier: Free
Hera Tier: Free
Zeus Tier: S1.25/month per node
Kronos Tier: $9.25/month per node
3rd, we were able to introduce one of our team members, Dionysus, on our Twitter Space that was held last tZesuday! Essentially, this was a Soft Doxx, where he revealed his first name, where he was born and currently lives, and his fascinating experience that led him to where he is today. You can always check out our old Twitter Spaces — like this one — that we recorded. We post them in our Discord!
For those of you unaware and/or new to our community, Dionysus is starting to step up in his role as a Senior Moderator, and you will likely see him more active on our team. We truly value all of the work that he puts in for our protocol and he has been doing an amazing job supporting Zeus Finance. Thank you, Dionysus!
Where We Are:
We are all in. We took the plunge and dove into the deep end.
We definitely have an understanding — a good grasp — on cryptocurrency, how it works, and the future that we envision moving forward, especially on a global scale. We are positioning ourselves to ensure that we can not only survive, but also thrive in the upcoming virtual economy, and we are building a protocol that will help our investors also thrive during this next phase of wealth accumulation and transfer.
Where are we? We are in the pantheon building a decentralized financial suite that provides real, passive income through profit sharing — that’s where we are. It ain’t easy, but it’s worth it. Thanks to all of you — our Olympians — we can continue on our journey with bravery and courage.
Marketing: Our public relations, partnerships, and garnering of a larger social presence is still in process. We are still going to continue our ZeusSpaces on Twitter every tZeusday, so please join us to hear from and about some potential partnerships, guest-speakers, and even some of our own team members that you don’t get to hear from often. We also share some alpha and education during discussions; I can honestly say, the conversations are always chill and insightful and I look forward to how they grow moving forward.
In addition to holding our own Twitter Spaces, we will be joining other Twitter Spaces and discussing the current state and future of DeFi, NFTs, and cryptocurrency in general. Most of these spaces will be with other protocols on Avalanche because we really want to become a main component to the network along with Trader Joe, Benqi, Chainlink, etc. While they may have swapping, lending, and oracle services pretty locked in, we plan on being the go-to decentralized financial suite that provides passive income. So, whenever you see an opportunity that we may not be aware of, let us know! We want to keep spreading our influence and will continue to do so over Crypto Twitter.
Further, the partnership with North Equities is still on. They are still marketing for us. I won’t say much more on this — I’ve been covering this weekly. Morpheus can provide more details in Discord for those who are curious about some information.
Chainlink…oh, Chainlink. As you know, marketing with Chainlink was put on hold for us due to our Chainlink ambassador becoming sick. Morpheus has been in direct contact with them for a while now, but some contact seems to have slowed down a bit. So far, marketing with Chainlink has not kicked off but we have the full expectation that Chainlink will begin marketing once we get contact with them and solidify the details of the campaign. We know that with the marketing from Chainlink, many new eyes will realize our presence and we hope that this partnership brings in as much volume as it does practical efficiency.
Utility & Roadmap: We are currently working on what was mentioned in last weeks article, particularly the new contract update for Version 2 and the bonding mechanisms. For those curious, the roadmap that has been released is being updated. For clarity, as of now, the memberships and $USDC for $USDC staking is not the next utility to be released. We are building out the new contract and bonding because we foresee this path as providing the best route moving forward for both sustainability and revenue.
Where We Are Going:
There’s something that we know we want to see a bit more of in our community. When we have these, it brings in more investors because of the ‘guts’ that these types of people have to commit to a nascent, experimental project; they forge the path. These types of investors usually have other connects and know other whales, and when acting in unison, hold a lot of power and influence when a protocol is being built out. Where they go, many follow.
We are talking about ‘whales.’
It is time to stop demonizing and picturing all of them as bad actors. These people invest their time and money in projects that can have a positive impact on people’s lives around the globe and we should embrace their capital injections, especially when they act respectfully to their communities (like ours). Usually, these whales are just normal people who were early adopters of a project. If not an early adopter, they were likely an early adopter of another project and are finding the next best thing and have the capital to do so. Yes, we know whales may move the price around and make things a bit volatile, but that is ultimately not what will determine the success or failure of a project (and is also why we have Over-The-Counter Trades).
What matters are the project’s foundations: their leadership, tokenomic structure, utility (value), and team vision. When we take a look at these key points, this is how we can become whales, ourselves; we must do the appropriate research and risk analysis and then make the appropriate moves.
So, we are doing what we can to show that we have the leadership, tokenomic structure, utility, and vision to attract more whales and truly grow our community and protocol. Everything we are doing in our updated roadmap — the new contract upgrade, bonding mechanisms, the DEX, memberships, $USDC for $USDC staking, NFTs, etc. — are integral to our vision and each one provides utility for both the protocol and the users.
Between last weeks extremely long and detailed post about our vision moving forward and next weeks release which will include the new roadmap and more details on what’s to come, I’m not providing any alpha this week and I am not going to go through another run down of our vision. We need some downtime here and there, both the team and the investors. This is “passive” income, after all.
If you feel that you have no faith, you must understand that you are in the most dangerous position in the world, in which only man can find himself. — Leo Tolstoy