The date has come! Open Data Interoperable Network (ODIN) is launching its token on Binance Smart Chain, which has shown itself very efficient in terms of costs & time of transactions.
ODIN token will be launched on PanCakeSwap ODIN / BNB pool with a fair launch approach, meaning that smart contract address and a liquidity pool will be launched almost at the same time and announced to the community immediately. The starting price of ODIN will be around USD 0.001.
Tokenomics & security measures to protect investors
We are launching all 100.000.000 ODIN tokens with the following tokenomics:
- Data consumers pool 10% — will be locked for 12 months.
- Stacking and validators reward 30% — will be locked for 6 months
- Company & founding team 10% — will be locked for 12 months
- Treasury 20% — will be locked for 9 months
- Liquidity pool 30% — locked liquidity for 12 months
As mentioned above, the pool’s liquidity will be locked right after the pool launch, same as all the other tokens will be locked, meaning no risk for early investors from the team side.
At the ODIN token launch phase, a deflationary model will be applied. The goal of the model is to decrease the supply of ODINs based on the transactions activity and also to incentive the token holders.
- A dynamic tax model between 4% and 12% is applied within each cycle of transactions. Every transaction of ODIN within the Binance Smart Chain will be taxed.
- 400.000 ODINs are burned in every cycle where 200.000 are burned entirely, and 200.000 are returned to the holders proportionally.
- 20% of all ODINs (20 million) will be burned within 100 cycles.
- The final supply of ODINs after burn will be 80 million
After ODIN protocol main net launch we will offer you an easy bridge to swap your Binance Smart Chain ODINs into main net ODINs with a 1:1 ratio.
To remind you what ODIN is:
ODIN is a decentralized system designed to build a data oracle network based on an open protocol for interaction between participants and a sustainable economy. In addition to organizing the data oracle network, ODIN involves building a decentralized peer-to-peer data sharing and trading ecosystem for delivering real-world data to onchain for various use cases such as DeFi, betting, forecasting apps, or NFT.
The main use cases for ODIN are:
- Streaming of anonymized user-generated data such as location, health, consumption, mobile data & others from off-chain applications to onchain smart contracts.
- Dynamic NFT allowing to update data records within NFT from real-world data
- DeFi applications need to be fed with real-world data such as off-chain trading platforms, prices, forecasts, statistics, and various analytics.
- Betting dapps can be fed with data from the real world to bring more decentralization & fairness to the betting sector.
& many others…
ODIN is being developed by the team of GeoDB, aiming to become also the main net of the GeoDB data exchange ecosystem. It also means that ODIN is coming from a fully compliant regulated entity with a solid background, regulated fundraising rounds, and a proven team background.
Testnet of ODIN is 70% done. The back end part is expected to be launched in May 2021 with a front end coming soon after. So all of the early ODIN holders will be able to test the network and get rewarded for validating the early transactions even on a test net level.
More announcements and updates are coming in the following days!