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Fork of OlympusDAO:
- 🚨 Please be informed that the project has not reached out to RugDoc as of date, and any claims that the RugDoc team is part of a multisig is false.
- ⚠️ Not KYC’d with RugDoc
- ⚠️ No reputable audits as of date.
- ⚠️ Liquidity is not locked with RugDoc
We are classifying the project as [High Risk] as it is has not passed reputable audits, KYC verifications, and until the above points have been resolved. Before investing, we also recommend users to conduct their own due diligence checks as OlympusDAO forks are prone to governance mishandling.
More Details
Dionys DAO appears to be an olympusDAO fork that is still in development. The platform will follow a very complex system which involves multiple interconnected smart contracts that aim to build its reserve thru its platform profits to give its native token an intrinsic value that can support its unique approach on being an algorithmic reserve currency backed by decentralized assets.
OlympusDAO forks usually offer two options for users on its platform: Staking — the platform allows you to deposit the native token where it gives out a token receipt that recalculates on every certain period (rebase) for your percentage share of native tokens in the pool which were collected from the platform fees and reward rates; and Bonding — lend your LP tokens to the platform to gain discounted native tokens that is vested over a certain period. This method allows the platform to gain revenue from LP rewards to further reinforce its reserves and ensure exit liquidity.
*Paid Advertisement. Not financial advice. RugDoc is not responsible for the projects showcased here. DYOR and ape safu.
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Disclaimer: This is done with our best knowledge and effort, nothing can be known for certain – always DYOR and risk management. This is NOT financial advice. Use the information presented here to inform your own decisions. Referral links may be included on any outbound link.