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Fork of OlympusDAO:
- ⚠️ Not KYC’d with RugDoc
- ⚠️ No reputable audits as of date
- ⚠️ Liquidity is not locked with RugDoc
- ⚠️ Not in a multisig. We highly recommend the project to use one with community members or reliable 3rd parties as an approver due to the said governance risk.
- ⚠️ ⚠️ Token minter is the Treasury contract but as the Token owner is the deployer this can be changed at any time so that the Owner can mint & dump.
- Project is carry on two presale at the same time, one as public sale and another as private sale both for whitelisted users. ⚠️ Both contracts allow the Deployer withdraw the USDC at any time without restriction. Presales are notoriously risky, kindly exercise caution when participating. Please clarify with the project on liquidity locking/burning once it is added.
Having said the above, we are classifying this as [Not Eligible] as we recommend these kind of complex projects to pass reputable audits and KYC verifications as there is a risk of governance mishandling. Before investing, we also recommend users to conduct their own due diligence checks.
More Details
(PROJECT NAME) appears to be an OlympusDAO fork wherein 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.