Author: How about, Odaily Star Daily
With the continuous rise in the heat of the crypto market, the airdrop of coins has once again surged. More and more projects choose to attract users by issuing coins at the current stage. Projects that have been dormant for many years have also taken advantage of the situation to launch tokens, and Odos is one of them.
Odos project announced today that the airdrop query function has been opened, and the airdrop application will officially begin on December 20th. At the same time, the project will also launch a loyalty program, hoping to incentivize community participation. For the community members who have been paying attention to the Odos project for a long time, they have finally ushered in the long-awaited moment with the release of the token. However, some community members are dissatisfied with Odos’ past behavior, calling it a “slave” project.
For this, Odaily Planet Daily will detail the token economics and airdrop standards of ODOS, review the project’s past actions, and explore why some community members refer to it as a “slave” project.
Overview of Odos and Token Economics
Odos is a decentralized smart order routing protocol designed to optimize users’ trading experience. By aggregating multiple decentralized exchanges (DEXs) and liquidity pools, Odos utilizes an automated market maker (AMM) path-finding algorithm to provide users with the best trading path, ensuring that transactions can be completed with the lowest fees and optimal prices. Odos is created by the Semiotic Labs team, which specializes in the intersection of artificial intelligence, cryptography, and blockchain. The team is also a core developer of The Graph protocol.
According to official sources, since its launch, Odos’ monthly trading volume has exceeded $6 billion, with a total of about 3 million independent wallets in use. Currently, Odos has issued the token ODOS through the establishment of Odos DAO, and launched a loyalty program to attract user participation and distribute retroactive rewards to previous users.
ODOS token economics and loyalty incentive program
The ODOS token is the native token of the Odos protocol. In addition to being used for community governance, it is also the core reward tool for the loyalty program. Users can earn ODOS tokens as rewards by interacting with the Odos protocol. The token is based on the ERC-20 standard and operates on the Base chain.
The total supply of ODOS tokens is 25 trillion, which is allocated as follows:
Loyalty Program: 25%, Odos loyalty program and incentives: Ownership within 60 months to support the expansion of the loyalty program.
Rewards tracing: 10%, fully unlocked at TGE.
Treasury: 15%, 60 million ODOS will be unlocked at TGE and distributed from the Odos DAO treasury as the initial administrative budget of Odos DAO, to be spent by special representatives in the following directions: personnel expenses; ecosystem expansion; general administrative expenses. The remaining treasury will be unlocked evenly over 36 months.
Investors: 20.4%, unlocks 1/2 after a 12-month cliff period following TGE (Token Generation Event), and then unlocks 1/24 monthly, with all tokens unlocking over 24 months after TGE.
Current and future teams: 20.6%, of which Semiotic Labs unlocks 1/4 after the TGE cliff period, and then unlocks 1/48 each month. All tokens will be unlocked after 48 months of the TGE. Core contributors: unlock 1/3 after the TGE cliff period, and then unlock 1/36 each month. All tokens will be unlocked after 36 months of the TGE. New employees will be attributed through a token incentive plan.
Reserve: 9% .
The loyalty program of Odos is designed to reward active users who interact with Odos protocol through its DApp. Every interaction on the user platform is automatically recorded to determine whether they qualify for rewards and their membership level. This program provides corresponding rebates and rewards for users at different levels of activity through a multi-level incentive structure. The transaction fees generated by users will ultimately be converted into rebates in ODOS tokens. Initially, users do not need to hold any ODOS tokens to enter the initial membership level.
Rewards for Tracing (Airdrop) Criteria
Odos DAO has introduced a traceability reward mechanism that allows eligible users to directly enter specific loyalty program levels and receive higher-level rewards and benefits. The distribution of traceability rewards is based on users’ activities between March 11, 2022 and August 28, 2024. Only users who complete qualified transactions during this period are eligible for traceability rewards. Specific criteria include:
Complete at least 100 USD of eligible trading volume
Trade within at least three days.
Cumulative trading volume and trading frequency
Currently, a total of 494,278 addresses are eligible for traceability rewards and immediate loyalty program level upgrades.
Why does the community call Odos the slave project?
After Odos announced the upcoming issuance of coins, many people on social media immediately called ODOS a black slave project, referring to it as the first project to link the act of shearing wool with black slaves.
Odaily Planet Daily reviewed the OAT collection tasks launched by Odos on the Galxe platform in 2022. This activity spans multiple public chains (Ethereum, Polygon, and Arbitrum), and users can collect OAT by completing specific tasks. The early supporters of OAT had relatively simple tasks, as users only needed to follow and retweet official tweets to receive OAT, with a total supply of 40,000.
At the same time, Odos also designed public chain testing tasks, where users can collect corresponding OAT by exchanging tokens on different public chains to receive rewards. For example, completing 32 OAT in the Ethereum task can receive additional NFT airdrops, while completing all tasks on Polygon and Arbitrum can receive Gold NFT.
Due to the large amount of exchange in the relevant tasks on Ethereum at that time, the slippage and fees were high, and many users complained that the cost of the tasks was too high, the operation was complicated, and it took a long time to complete, and described these tasks as ‘as tedious as being a slave.’ Interestingly, some people also thanked Odos on social media, saying that without these tedious tasks, they might not be able to receive the ‘big bucks’ of Arbitrum.
Anyway, there is still a week left until the airdrop distribution. It is not yet known how much profit it will bring to users. Odaily will follow up with the report.
