Autonolas (OLAS)
Autonolas, also known as Olas, is an innovative cryptocurrency ecosystem that focuses on providing a unified network of off-chain services, including automation, oracles, and co-owned artificial intelligence (AI). This network facilitates a composable stack for the development of these services, alongside a protocol that incentivizes their creation. Autonolas distinguishes itself by enabling these services to operate in a co-owned and decentralized manner.
The core functionalities of Autonolas
Autonolas services are particularly suited for integrating cryptocurrency with AI, executing complex logic in a decentralized fashion, and autonomously interacting with both on-chain and off-chain data. A prominent example of this advanced autonomous agent technology is Governatooorr, an AI-driven governance delegate designed for Decentralized Autonomous Organizations (DAOs).
| Ticker | OLAS |
| Category | Artificial Intelligence (AI) |
| Website | https://olas.network |
| @autonolas | |
| Contract Addresses | |
|---|---|
| ethereum | 0x00...b0 Copied! |
| xdai | 0xce...9fCopied! |
| polygon-pos | 0xfe...95Copied! |
| solana | Ez...yMCopied! |
Autonolas DAO and public token launch
The Autonolas DAO was established in the summer of 2022, marking a significant step in the project's development. The public token launch occurred in July 2023 via a liquidity bootstrapping pool. This launch initiated the distribution and use of the OLAS token, essential for accessing the network's core functions.
Autonolas network expansion
Autonolas is actively expanding its support to include additional blockchain networks, with the goal of being deployed across every major blockchain. The project's vision is to power the core off-chain services of these blockchains, thereby realizing a comprehensive network of off-chain services.
The OLAS token and its applications
The OLAS token is central to the Autonolas network, providing several key functionalities:
Staking and Operation: Users can stake OLAS tokens to operate off-chain services, contributing to the network's efficiency and decentralization.
Governance Participation: By locking OLAS in veOLAS, users gain governance rights, allowing them to participate in decision-making processes that shape the network's future.
Developer Incentives: OLAS powers a unique incentive system aimed at expanding the number of services within the Olas ecosystem. Governance members can utilize OLAS to enhance ETH donations to valuable services, composed of autonomous agents and their software components, referred to as 'useful code'.
Liquidity and Capital Management: Existing token holders can bond liquidity provider (LP) shares involving OLAS into the protocol, increasing protocol-owned liquidity, known as 'useful capital'.