BSCDaily hosts OTO: #Defi #OTO #Dao #BSCDaily #BSCADVERTISEMENT
BSC_Daily Admin: Hello and welcome, how are you today?
OTO Tiger: Pleasure to be here with the BSCDaily Community. Doing well! Been an exciting few weeks for us here at OTO DAO. Thanks for having me.
BSC_Daily Admin: Happy to hear! Ready to start our AMA?
OTO Tiger: Yes
Q1: Now to start the AMA, please have a quick introduction to the community. What is the vision of OTO?
OTO Tiger: OTO is a venture capital DAO. The DAO incubates other profitable projects, like yield aggregators and NFT auction platforms, that DAO members believe to be promising. The DAO then distributes dividends through smart contracts. This makes OTO the platform token for all incubated projects.
OTO’s one and only mission is to create value for its hodlers and advocates. Through tokenomics, OTO rewards long-term investors over day-trading speculators and whales who dump.
Q2: Please share with us the background of the team behind this project. What are your past experiences?
OTO Tiger: The team consists of blockchain enthusiasts who have a strong belief that blockchain VC investment should be democratized. There are too many meme coins already. Some of them turn out to be scams. Others crashed and burned. It is hard and unrealistic for ordinary investors to research all of them.
At the same time, great projects with amazing ideas keep turning up. But their brilliance is often drowned in the ocean of noise created by scam projects. So they risk never getting the crucial seed audience for survival. OTO Team is here to change this.
Our team consists of developers with experience in developing IM systems serving millions of users, researchers that can tell frauds from genuine projects and marketing specialists to give great ideas the attention that they deserve. We believe we have a strong team that’s ready to empower the investors and share with them the success in discovering and incubating great projects.
Q3: Can you tell us how your fair launch went?
OTO Tiger: Our fair launch went unexpectedly well! We launched at the very end of August.
Btw, our contract address is 0x421dddab3f78ec2de24c39041f255808b8601891 if you are wondering.
The launch was slow at first and we were a bit worried. Then came the “China Ban” news and the launch process became a bit challenging. But we were glad that the market quickly recovered. At this moment, I would say that the fair launch was a success.
According to Dextools, we have more than 6400 BNB in our liquidity pair. That’s much better than what we have hoped for. This 6400+ BNB shows market validation for our idea. They give us confidence to build out our projects at an accelerated pace and bring our ideas into realization.
Q4: The OTO DAO recently passed a vote to burn 90% of its total circulation. Can you tell us more about the burn?
OTO Tiger: Sure! The OTO DAO is an open community. DAO members can come together to vote on ideas that they believe are important. Through the DAO’s first vote, we have agreed that some early investors have amassed too much of OTO’s circulation. It is in the DAO’s common interest to make OTO more accessible to new members that have not joined the DAO yet. And the vote instructed the DAO to negotiate with these early investors to reach a deal such that 90% of OTO’s current circulation will be burned.
In addition, the vote also activated a deflation mechanism. With this deflation mechanism, 0.5% amount of each transfer is sent to a burn address. This deflation will continue until the total circulation becomes 1 billion OTO. The vote has now been passed with overriding consensus. The deflation mechanism has already been activated. And the 90% burn is expected to complete within 24 hours from now. The MCap of OTO after the burn is completed will be around 70m.
Q5: OTO is a venture capital DAO. What would be your first incubation?
OTO Tiger: Good question! We are in touch with FomoNFT.app, a new and innovative NFT auction platform. We are in the final stage of buying this project as our first incubation. FomoNFT.app uses the Fomo3D way to auction NFT. It has been on the radar of some of the top NFT influencers and caught our attention.
FomoNFT.app is unique in three ways.
First, bidders actually earn BNB after placing bids. They could earn back much more BNB than they put in.
Second, the winner, in addition to winning the NFT, shares a BNB jackpot. This jackpot amount is much more than the winning bid price.
For example, in the last-ended auction on FomoNFT.app, the winner earned about 150 BNB by placing a winning bid of 35 BNB. That’s an amazing return.
Finally, NFT seller could get much more from FomoNFT than from other platforms. This is because the FOMO encourages bidders to place bid earlier and higher.
So we believe FomoNFT.app is a great incubation for OTO to have.
We will start a vote for OTO to acquire FomoNFT soon.
If everything goes well, the acquisition and integration into OTO ecosystem is expected to complete within 2 weeks.
Q6: Would OTO be the platform token for all incubations?
OTO Tiger: Each OTO incubation will be a platform generating true revenues for the OTO community. If voted yes by the community, OTO will become the platform tokens of all these platforms. What this means is that the profits from all these incubations will be used to benefit OTO holders.
For example, the last auction from FomoNFT.app generated a profit of around 30 BNB. We expect this profit to grow rapidly with future auctions. When OTO integration of FomoApp has been completed, the BNB profits from all future auctions will be automatically swapped for OTO.
These OTO profits will be distributed to OTO stakers. This is the DAO’s smart dividend mechanism and will be used for all OTO incubations. The profit streams from all incubations become OTO’s value support.
Q7: Can you share your Roadmap in the next 6 months?
OTO Tiger: At this moment, we have completed the Fair Launch step of the project. This is just the beginning, and we understand that everyone wants to know what happens next! In short, the roadmap currently has 3 major milestones.
First, we will ensure that the 90% burn is completed and the deflation mechanism operates smoothly. This will signal a successful end of our Fair Launch Step and serve as a great foundation for future steps.
Second, we continue with the Incubation Step. OTO is an ambitious project aiming to be a Venture Capital DAO. So the Incubation Step is a core step in our roadmap. We anticipate to complete the FomoNFT.app incubation within 2 weeks once the DAO passes the vote. And we will most likely have more incubations by the end of this year. For example, notice that the domain name of OTO is OTO.exchange? Yes, projects that we are currently thinking about incubating are a new generation of crypto exchanges.
We will also incubate other projects that the market has proven to generate real value.
Finally, we enter the Smart Chain Step. OTO’s launch on BSC is temporary. We are developing our own smart chain, designed to perform super fast and super secure. The Alpha version of the OTO chain, called Particle, will land within 8 months. At that point, OTO itself, and all of its incubations, will migrate to Particle.
So that’s a quick view of our workload for the next 6 months. We will continue to listen to the DAO (that’s all of you) to further develop our plan to reflect your opinions and votes!
Q8: Where can we find out more about OTO on social media?
OTO Tiger: Here is a set of useful links to get started on OTO!
Telegram: t.me/oto_protocol
Website: oto.exchange
Gitbook: docs.oto.exchange
BSC Contract: 0x421dddab3f78ec2de24c39041f255808b8601891
We look forward to welcoming you in the OTO community!
BSC_Daily Admin: With this, we are now at the end of our AMA session with OTO.
Time for wrapping up, any last words you would like to say to our community?
OTO Tiger: Pleasure to join you guys today for the AMA. One last word would be, we are all believers in crypto! Continue to HODL and BUIDL!
BSC_Daily Admin: Thank you so much for spending time with our community & all the very best for OTO.
Source : cryptodaily.io
