Article Summary, Automatically Generated By AI
Summary of Autonolas
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Launch Date:
Summer 2022 -
Token Launch:
July 2023 (via liquidity bootstrapping pool) -
Native Token:
OLAS (utility token) -
Token Functions:
- Access to core functions
- Staking for off-chain services
- Locking for governance rights
- Powers developer incentives
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Key Features:
- Unified platform for automation, oracles, and co-owned AI
About Autonolas: Empowering Decentralized Innovation
Autonolas, also referred to as Olas, is a decentralized network of off-chain services launched in the summer of 2022 by a multinational team with a presence in both Europe and Asia. This network provides a unified platform for a range of services, including automation, oracles, and co-owned artificial intelligence. By offering a modular stack for building these services and a protocol that incentivizes their creation, Autonolas distinguishes itself by enabling the decentralized and co-owned operation of these services.
The services offered by Autonolas are tailored to seamlessly merge cryptocurrency and artificial intelligence, facilitating the execution of intricate logic in a decentralized environment, while autonomously and continuously interacting with both on-chain and off-chain data. One of the pioneering applications of this autonomous agent technology is Governator, an AI-powered governance delegate for decentralized autonomous organizations (DAOs).
The public token launch of Autonolas was successfully conducted via a liquidity bootstrapping pool in July 2023. The OLAS token, the native utility token of the network, serves as a gateway to the network’s core functionalities. By staking OLAS, users can operate off-chain services, while locking OLAS in veOLAS enables them to exercise governance rights, thereby contributing to the network’s evolution. Furthermore, OLAS fuels a novel system of developer incentives, designed to expand the array of services within the Olas ecosystem. Governance members can amplify ETH donations to services, comprising autonomous agents and their software components, referred to as ‘useful code’, by supplementing them with OLAS from the protocol. Additionally, existing token holders can bond LP shares involving OLAS into the protocol, thereby increasing protocol-owned liquidity, also known as ‘useful capital’.
Autonolas is charting a steady course of growth, continually expanding its support to encompass additional chains. The project’s overarching objective is to achieve seamless deployment on every major blockchain, thereby empowering their core off-chain services and bringing to fruition the vision of a unified network of off-chain services. For more information, please visit the Autonolas website at
https://olas.network
.