Thank you to everyone who joined AMA Blockelite x Omphalos on 28th September 2020 at 10 AM UTC I 5 PM UTC+7. Here is the recap for those who missed this AMA.
Our special guest today is Davorin Bebak, Community Manager of Omphalos
Segment 1, Q1: Can you briefly introduce yourself as well as the Omphalos project?
I am working almost 5 years as marketing manager in a lot of different areas. I started with crypto in 2017 and still here. I worked so far with almost 40 project in blockchain area.
And about Omphalos
Omphalos is a new crypto protocol that aims to act as a base currency of DeFi system. It consists of five “pillars”: Decentralized Bank, Council, Omphalos Spring, Omphalos Adesha, and Omphalos Proxeny. You will know more details later in our conversation
Segment 1, Q2: Can you list 3–5 killer features of the $OMPL token, what makes OMPL ahead of your competitors?
We would offer multiple financial derivatives for our holders. OMPL can be used in Omphalos Spring liquidity farming or be staked in Borrow & Lend of Omphalos Adesha. These options will provide long-term participants with lucrative profits. However, the unique feature is that we engage DAO in these profit-making projects. Our users can vote for how they would like staking to be or if OMPL should cooperate with CEX or DEX or that we develop our own staking platform. We don’t intend to limit ourselves in blockchain, and instead will try to bring our financial products to traditional organisations.
This looks very good advantage in head of other projects
Segment 1, Q3: Can you tell us the motivation and benefits for investors to hold $OMPL in a long-term investment and what plans do you have to help drive demand and scarcity?
Liquidity mining and decentralized borrowing are on the development pipeline. What makes Omphalos stand out is that we use an instant liquidation process, that the users can have a lower liquidation ratio compared to other borrowing Defi Projects. For example, MakerDao requires 150% of collateral while we can hold only 120- 130% with our instant liquidation mechanism. This should be perfect for long term investors. Also as we mentioned in the question before, voting option for our community to decide about projects future looks very attractive.
Segment 1, Q4: What’s the Omphalos roadmap coming?
Nice 👌 we have very interesting roadmap
It looks like this:
Q3 2020 — Launch of Omphalos Protocol and OMPL Token
Q4 2020 — Launch of Omphalos Spring (Liquidity Mining)
Q1 2021 — DAO Module Implemented
Q3 2021 — Launch of Omphalos Adesha (Borrowing and Lending)
Q1 2022 — Launch on Polkadot Parachain
So next few months will be very exciting
Segment 1, Q5: How do you view the importance of the community? Do you have plans to launch any special campaigns to engage and grow your community soon?
Yes sure, we think the community is most important part of every successful project, that’s why we are transparent to them from the first day. We will have some promotional activities in the coming weeks and make sure that everyone is in our group @omphalosdefi to be informed always on time.
Thx on the interesting first segment
Segment 2, Q1: Ampleforth has not been successful in creating a stable yet flexible DeFi-based currency that is resistant to market volatility, so what is the reason? How will Omphalos solve those problems? from @QuyenTr0902
That’s why we have our rebase process.
The automatic rebase process will kick in when the OMPL coin price is above $1.06 ( increase supply) or below $0.96 (decrease in supply), to ultimately bring the token price back to a $1 equilibrium.
Rebase happens every 24 hours.
For details, please see on our website, there are nice graphics: https://omphalos.co/rebase/
Segment 2, Q2: Currently on the DEFI market is becoming a trend and focus of investors and since then startups are also more about in DEFI trend. First of all, What do you think about this? What factors can make @OmphalosDefi different because there are many projects involved in DeFi? from @Crypto4IND
Love to explain this
We are different from other DeFi projects in a number of ways, first we will support cross-chain interoperability, powered by the PolkaDot parachain protocol, which means OMPL will be compatible with other chains, unlike other Defi Projects are restricting users to a single chain such as on ETH or Bitcoin chains.
Our cross chain ability allows our OMPL asset to move freely in every blockchains. In addition, we are going to employ a fully decentralized DAO council governance model and let everyone in our community join us in designing the next defi products that are good for everyone. This looks pretty different
Segment 2, Q3: Because public blockchains need users to succeed, they depend a lot on the development and participation of the community. What are Omphalos’s community development plans and strategies? from @nhitran83149300
For community development, every holder of OMPL is our community member, they have the right to vote and participate in our future planning process.
They can even create contents, dapps and get rewards from Omphalos. That’s why we have set aside 15% of tokens for the community grant!
That’s really awesome to support our loyal members
Segment 2, Q4: As Omphalos, you have an upcoming tokensale in a few months…what is your soft cap and hardcap? Secondly If softcap is not reached what next? from @Alison_m2000
All details about token sale will be released soon on our social media channels. I am sure that we will reach the soft cap because current feedback is really amazing. Alll unsold tokens will be burned.
Segment 2, Q5: How secured is your smart contracts code, did you ever audit it via any third party? from @YenTatooLeYen
Sure, we will conduct a third party security audit check with a reputable on-chain security firm — QuantStamp. We have made contact with them, details will come soon. Everything will be transparent and secure.
Last Segment for AMA today, Mr. Davorin will select 5 best questions from the community.
1. How can you spread awareness of your project in different countries where English is not good? There are a lot of exchanges that are hacked leading to the loss of users’ assets, so how secure is your platform?
That’s why we are doing a lot of AMAs with different countries and different communities. More and more people are coming each day to our community and this will be really big world wide project. About security, we will have audit from our side and exchange security is not in our domain. We will chose exchanges wisely
2. On moving forward through your roadmap, what are your most important next priorities/Milestone? Does $Omphalos team have enough fundamental (Funds, Community, ect) to achieve those milestones? On moving forward through your roadmap, what are your most important next priorities/Milestone? Does $Omphalos team have enough fundamental (Funds, Community, ect) to achieve those milestones?
Sure it has enough knowledge and experience from previous projects. I worked for 40 projects in the last 5 years and other team members have even more experience.
Omphalos foundation is set in Switzerland. The team has crypto veterans and finance experts who have built famous dApps and hard forked Ethereum.
3. At the moment , what’s Omphalos focusing right now ? building and developing product or getting customers and users, or partnerships ? Could you share it?
Currently we are building our protocol and OMPL token so we can start with private and public sale next month. Those are our main goals in the nearest time. Then we will focus on the liquidity mining program
4. Can you give me 3 reasons why users and investors should invest their money in OMPHALOS in the long-term? What are the benefits OMPHALOS brings?
Dao voting, liquidity mining program and borrowing/lending feature
5. How is OMPHALOS token uses for? How to keep motivation of holding OMPHALOS tokens in the long term?
OMPL token will be the native network token in the Omphalos ecosystem, OMPL will be used to do liquidity mining, pay for network fees, and be used as collateral for borrowing other cryptos. You will be given a choice to vote on a future community development also, create content etc. So many benefits if you will hold OMPL
Thank you for joining today AMA! It was awesome! Would you like to address the community before we open the chat? 😉 @Cronicsi1950
Guys it was my pleasure
All best to you
Our AMA session is now over !!!
More information about Omphalos