Author | Fu He How, Odaily Planet Daily
As the crypto market continues to heat up, the wave of airdrops has started again. More and more projects are choosing to attract users by issuing tokens at this stage. Projects that have been dormant for many years have also taken the opportunity to launch tokens, and Odos is one of them.
The Odos project released an announcement, announcing that the airdrop query function has been opened and airdrop claims will officially start on December 20. At the same time, the project will also launch a loyalty program to encourage community participation. For the community that has been paying attention to the Odos project for a long time, with the release of the token, they finally ushered in the long-awaited moment. However, some community members expressed dissatisfaction with Odos' past behavior and called it a "slave" project.
To this end, Odaily Planet Daily will introduce the token economics and airdrop standards of ODOS in detail, review the past behavior of the project, and explore why some community members call it a "slave" project.
Basic Overview of Odos and Token Economics
Odos is a decentralized smart order routing protocol designed to optimize the user's trading experience. By aggregating multiple decentralized exchanges (DEX) and liquidity pools, Odos uses the automated market maker (AMM) path finding algorithm to provide users with the best trading path, thereby ensuring that transactions can be completed at the lowest fees and the best price. Odos was created by the Semiotic Labs team, which focuses on the intersection of artificial intelligence, cryptography, and blockchain. The team is also the core developer of The Graph protocol.
According to official news, since its launch, Odos' monthly transaction volume has exceeded 6 billion US dollars, and a total of about 3 million independent wallets are using it. Currently, Odos has issued the token ODOS by establishing Odos DAO, and launched a loyalty program to attract user participation, and issued retroactive rewards to previous users.
ODOS Token Economics and Loyalty Incentive Program
ODOS token is the native token of Odos protocol. In addition to being used for community governance, it is also the core reward tool of the loyalty program. Users can get ODOS tokens as rewards by interacting with Odos protocol. The token is based on ERC-20 standard and runs on Base chain.
The total supply of ODOS tokens is 2.5 trillion, divided into the following parts:
- Loyalty Program: 25%, Odos Loyalty Program & Incentives: vests over 60 months to support the expansion of the loyalty program.
- Retroactive Reward: 10%, 100% unlocked at TGE.
- Treasury: 15%, 60 million ODOS will be unlocked at TGE and will be allocated from the Odos DAO Treasury as the initial administrative budget of Odos DAO, which will be spent by the special representative in the following directions: personnel expenses; ecosystem expansion; general administrative expenses. The remaining treasury will be unlocked evenly within 36 months.
- Investors: 20.4%, 1/2 will be unlocked during the cliff period 12 months after TGE (Token Generation Event), and 1/24 will be unlocked every month thereafter. All tokens will be unlocked 24 months after TGE.
- Current and future team: 20.6%, of which Semiotic Labs will unlock 1/4 in the cliff period 12 months after TGE, and 1/48 per month thereafter, and all tokens will be unlocked 48 months after TGE. Core contributors: 1/3 in the cliff period 12 months after TGE, and 1/36 per month thereafter, and all tokens will be unlocked 36 months after TGE. New employees will be vested through the token incentive plan.
- Reserves: 9%.
Odos's loyalty program is designed to reward active users who interact with the Odos protocol through its DApp. Every interaction a user has on the platform is automatically recorded to determine if they are eligible for rewards and their membership level. The program provides corresponding rebates and rewards to different levels of active users through a multi-tiered incentive structure. The transaction fees generated by users are ultimately converted into rebates in ODOS tokens. Initially, users do not need to hold any ODOS tokens to enter the initial membership level.
Retroactive Reward (Airdrop) Criteria
Odos DAO has introduced a retroactive reward mechanism that allows eligible users to enter specific levels of the loyalty program directly and receive higher-level rewards and benefits. The distribution of retroactive rewards is based on the user's activity between March 11, 2022 and August 28, 2024. Only users who complete eligible transactions during this period can receive retroactive rewards. Specific criteria include:
- Complete a qualifying trading volume of at least $100
- Trade within at least three days
- Cumulative transaction volume and transaction frequency
A total of 494,278 addresses are currently eligible for retroactive rewards and immediate loyalty program tier upgrades.
Why does the community call Odos a black slave project?
After Odos announced that it would soon issue its coin, many people on social media called ODOS a slave project, saying it was the first project to link hair pullers with slaves.
Odaily Planet Daily reviewed the OAT collection task launched by Odos on the Galxe platform in 2022. The event was carried out across multiple public chains (Ethereum, Polygon and Arbitrum), and users can collect OAT by completing specific tasks. The task form of OAT for early supporters is relatively simple. Users only need to follow and forward the official Twitter to receive OAT, with a total of 40,000 pieces.
At the same time, Odos has also designed public chain testing tasks. Users can collect corresponding OAT to get rewards by exchanging tokens on different public chains. For example, completing 32 OAT in the Ethereum task can get additional NFT airdrops, while completing all tasks on Polygon and Arbitrum can get Gold NFT.
Since the exchange amount in Ethereum-related tasks was large, the slippage and handling fees were high, many users complained that the tasks were too costly, complicated and took a long time to complete, and described these tasks as "like being a slave". But interestingly, some people thanked Odos on social media, saying that without these tedious tasks, they might not get the "big money" from Arbitrum.
In any case, there is still a week left before the airdrop can be claimed, and it is still unknown how much benefit it will bring to users. Odaily Planet Daily will follow up with reports.
