Wolfonaire Chatbox : AMA With Omphalos (November 5, 2020)
Hello! Wolfonaire Family & Crypto Enthusiasts!
We recently hosted an AMA with Omphalos, on 5th November, 2020 at 1 PM UTC. This Session was phenomenal. If you have missed then here is the precious AMA transcript, for those who missed the live session this will enlighten you for sure…
Guest Speaker : Mr. Miladinovic Goran| Business Development, Omphalos
(Note: This is the transcription of the event. Please note that the transcript was edited for comprehensibility and coherency, while the content was not changed.)
INTRODUCTION
Miladinovic : A short intro :) Well Ompahalos is a DeFi stable adaptive base cryptocurrency with scalable chain interoperability.
Important thing to mention is that Omphalos is based on 5 pillars which are entirely separate from one another but when combined they are Omphalos.
those 5 pillars are :
Decentralized Bank/Rebase Feature
Council / Community Governing
Omphalos Spring / Liquidity Mining
Omphalos Adesha / New Gen Lending and borrowing
Omphalos Proxeny which is cross chain interoperability powered by polkadot
I wouldn’t talk much about the team itself as it’s huge. But i can tell you about myself.
My name is Goran and am 25 from Serbia.
I’ve also got 7 years of experience in ICO management and crypto in general with several projects behind me :)
Wolf : For our members who are not already familiar with the project, can you give us a very high-level overview of what Omphalos is and what competitive edge it brings to the DeFi landscape?
Miladinovic : Well overall OMPL strives to achieve what it’s predecessors couldn’t. Meaning achieving stable token which won’t suffer from over inflation of token supply.
Also our speed and team size are one of the things which give us most edge in the DeFi space. What am trying to say is that Crypto and DeFi space are both moving
at an insane pace and only way for us to stay ahead is to move as fast or even faster than the market does and if i may say so.
Every time i go to sleep :)
I miss something i’ve gotta catch up after waking up
But overall for people which wanna go in detail i could write for hours. easiest way for an In depth understanding of Ompahlos is to read the Whitepaper on our webisite : Omphalos.co
Wolf : Awesome👏👏👏! Have you met all your goals in the roadmap till now? And were there any difficulties that you didn’t expect and were not prepared for?
Miladinovic : Yeah. As a matter of fact we did. And we even over achieving some of them. Omphalos spring mobile app is almost ready for launch and it’s due date is by the end of the year.
Naturally we face issues as we go and we have to adapt to market changes as we go. But since everyone has a lot of blokchain experience those changes are pretty natural for us.
Wolf : How do holders of the omphalos token benefit in the ecosystem? What power within your model do individuals hold? Why is it so attractive and what are the basic requirements to participate?
Miladinovic : There are many different ways for community to profit.
Omphalos Spring Offers up to 300% APY for liquidity mining. Also you can use Adesha for lending you crypto and earn profits. In general OMPL is a collection of everything you within DeFi space to properly function including a stable token all in 1 app and all on 1 chain.
There aren’t any specific basic requirement, But we do appreciate our community insight. In case you didn’t know second pillar of OMPL the council states that each OMPL token carries 1 Voting weight towards making decisions related to the project itself.
Which means that the OMPL you have. The more influence you have on every decision made.
Wolf : Good To Hear MG,Omphalos seems very interesting project, Did you find any threats till yet like smartcontract failures.When we think about mass adoption,security should be our first priority?
Miladinovic : Security is always our first priority.
Our smart contract is currency being Audited by QuantStamp which is one of the leading companies in the area of Smart contract audits in general :)
So far no breaches have been reported by them.
Wolf : For each project, community factors contribute to the project’s victory. So, what your strategies for community development and long-term user retention?
Miladinovic : Well overall we’re going at it one step at the time and we’re trying to engage with as many different communities as possible and to ensure our community itself stays busy 26/8 ahahaha literally. If you join our group you may not see all the results yet but we’re getting there slowly :)
Wolf : Yeah I Personally Agree On This, You Guys Are Awesome, Please tell us how omphalos uniquely benefits open finance in today and tomorrow’s economy?
Miladinovic : Well this specific question can be answered in many different ways. How we will benefit in future will be decided by the market movements in general. And how are we benefits from it now, By using OMPL people will have everything in 1 App. A stable type token, liquidity mining possibilities, Cross chain swap ….etc etc everything you need will be included in one Omphalos app which allow our users full flexibility wheatear they are traders holders or simply blockchain enthusiasts.
As you said global adoption is our goal on the long run but it won’t happen over night in any case. :) And i can’t precisely disclose all of our plans regarding how we’re planning on achieving such a big feat but believe me when i tell you that we have a plan and a sizable investor community backing us. :)
Now Group Question & Answer Session 1 Began
Q1. Other rebase-based projects are having a hard time adjusting their token prices, I am eager to know how Omphalos prepares to offer the best rebase-based product?
Miladinovic : In our case rebase is a feature in which community will directly participate. Meaning that by default rebase is performed once per day in case price goes over 1.06 or under 0.96 dollars
But in case the community decides so we can have rebase every hour or even every 15 minutes which will allow us to be stable.
Community will decide for itself what’s best for it regarding the rebase and we will allow them full freedom when it comes to deciding that or anything else which is crucial to our project
Q2. Is Omphalos fully decentralized? How do you avoid being centralized futher?
Miladinovic : We’re not 100% Decentralized but we pride ourselves in the fact that all important factors of our project such as rebase are fully decentralized and can be influenced only by the community :)
Q3. What makes Omphalos better then competitor? is really hard to get compete these days cause a lot new projects bringing new technology?
Miladinovic : You’ve said it. it’s really hard for projects to succeed but fortunately for us we have quite a big budget we’ve prepared for this project so we aren’t strugling with funds distribution or team size and are able to focus on everything we need to in order to deliver best and fastest product to our community.
Q4. Does Omphalos do presale? Where can we contribute ? And can you provide details about the total supply and the token price?
Miladinovic : Yes we are currently doing a private sale but minimum contribution during the sale is 10 000$ and price per token is 0.6$
Also important for you to know is that those tokens bought at 0.6 have a lockdown period of 30 days and you will recieve 10% of your total investments every 30 days there on out.
And you have an option of the SEED sale in which minimum is 20 000 USD with price of 0.32$ per OMPL and a lock down period of 180 days after which you get 10% every 30 days
Q5. What is OMPHALOS’s governance mechanism like? Who has the right to participate in the voting process? What are the requirements to participate?
Miladinovic : Owning 1 OMPL allows you to participate in decision making for the entire community 1 OMPL = 1 Voting Weight :).
Q6. Many investors hit and run in the sell and sell session after listing on the first exchange, How did Your project prevent early investors from selling their tokens and what benefits you would give them?
Miladinovic : As i’ve menitoned investors which get lower price have lockdown periods which release their tokens gradually which will prevent full scale unload right away and preserve our token value :)
Please note that for tokens bought during the public sale there will be no lockdown period but those will be sold at 0.95$ a piece.
Q7. 🎀You guys are doing AMA’s in all group & almost answering same types of questions again and again? How do You feel about it?
Miladinovic : Well we’re trying to expand our community as much as possible and to educate communities world wide about our project. :)
So it’s not hard :).
Q8. Can you please share about your best partnership and Future planning with whom you would like to join partnership?
Miladinovic : We’re planning on planning global adoption and in order to achieve that we need as many partners as possible. But unfortunately am unable to disclose those information about our possible partners as that’s a part of the deal we have with them currently. however as soon as possible we will update our entire community.
Now Group Question & Answer Session 2 Began
Q9. Where does the project name come from? What does it mean for you and why did you choose that name for your project?
Miladinovic : Omphalos = cornerstone of the world on Greek and it shows just how ambitious about this project we all are :)
Q10. Can (#Omphalos) meet all the features & needs of the financial ecosystem? Can it offer Speed, Security, strong infrastructure, innovative ecosystem, stable use & traditional bank solutions together? Can (#Omphalos) be the chief architect of the financial ecosystem?
Miladinovic : As i just said. We’re very ambitious about this project so the answer to that question is YES WE CAN!
that’s precisely why we decided to use Polkadot as a substitute for ETH 2.0 as it offers more than any other current cross chain solution
Q11. I am an investor, so besides trusting in the OMPHALOS project, I also want to make a profit so what is the marketing strategy of OMPHALOS to attract investors and expand market?
Miladinovic : Good question and am sure many would like to know the answer regarding this. We pride ourselves in the fact that our App suits all types of users.
Spenders, Investors, Traders, Income earners etc etc. :)
And they can all our use app which will meet all their requirements as the team itself is filled with people with those same needs and we’re constructing this project in a way which will meet all our requirements first and foremost and will be soon open to community suggestions as well.
Q12. In traditional finance some people runs the market, but in DeFi it gives the power back to everyone. Creating people sovereign owner of their finances themselves, not to wealthy haldfulls.
Question is If above is true, then why there are no. Of project are scamming or Dumping hard?
Miladinovic : You will find scam everywhere you go.
As for dumping hard. People have no patience and that triggers dumping.
projects need time to develop. We’re a team of developers and highly motivated managers. Not a team of Magicians, and in order to prevent dumps we are using lockdown system. But overall we are sure that community investing during the private sale will be satified with our progress soon enough. For those which are keeping track of OMPL for last few weeks am sure they’ve noticed many improvents already
Everyone who wants to know more or to participate in private sale can DM me anytime or ask questions about this within our community. https://t.me/omphalosdefi
Now the session ends with lots of thanks to our Guest Speaker…
Here is some important links of Omphalos ⛓⛓
