Introduction
What is Omicron?
Omicron is a decentralized reserve currency protocol available on the Arbitrum Network based on the
OMIC token. Each OMIC token is backed by a basket of assets (e.g. MIM, OMIC-MIM LP) in the OMIC treasury, giving it an intrinsic value that it cannot fall below. OMIC also introduces unique economic and game-theoretic dynamics into the market through staking and bonding. There is no team allocation, there was no presale.What is the point of OMIC?
Our goal is to build a policy-controlled currency system, native on the Arbitrum network, in which the behavior of the
OMIC token is controlled at a high level. In the long term, we believe this system can be used to optimize for stability and consistency so that OMIC can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation.How do I participate in OMIC?
There are two main strategies for market participants: staking and bonding. Stakers stake their
OMIC tokens in return for more OMIC tokens, while bonders provide LP exchange for discounted OMIC tokens after a fixed vesting period.How can I benefit from OMIC?
The main benefit for stakers comes from supply growth. The protocol mints new
OMIC tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit. The main benefit for bonders comes from price consistency. Bonders commit a capital upfront and are promised a fixed return at a set point in time; that return is in OMIC and thus the bonder's profit would depend on OMIC price when the bond matures. Bonders benefit from a rising or static OMIC price.Who created OMIC?
OMIC is a fork of Olympus on the Arbitrum Network. Our team is mostly anonymous, born from the DeFi Community. We aim at becoming a Decentralized Autonomous Organization, and we are actively working towards that goal.Who runs OMIC?
Currently most of the decisions are taken by the core team, but we expect to be able to turn this into a DAO-governed model as soon as possible!
Last modified 15d ago