ODDITY — Update
The latest info pack is live!
GM Geniuses! Today we’re coming to you with a bunch of new info on ODDITY Finance, our upcoming perpetual markets protocol. If you need to review the initial details, check the previous article here.
We are still marching forward in development, with the goal of deploying exotic perpetuals for our users. To this end, we have made some important changes to the project’s direction and roadmap! Read all about it 👇
Pitch & Beta
We’re happy to share that we’ve fixed an issue preventing users from trying the Ghostnet Beta on Tezos. Users can now try out the 8H XTZ perpetual market on testnet. From our readings over the past few months, our TWAP Oracle system is working perfectly to deliver data on time for funding payments.
We’ve also gone through and created an all new pitch site that you can tell all of your friends about! 🙂
Multichain Future
Our original goal was to stay as an exclusive Tezos project. Due to lack of users & price action, we cannot move forward as a Tezos-only project.
Fortunately, ODDITY is the perfect project to go multichain because perpetual markets work well with both small and large userbases. We will deploy markets and hook our API data on multiple chains, allowing ODDITY to grow with no baggage!
The plan is to initially deploy on Tezos and Mavryk Network. Mavryk is a new layer 1 that aims to build interest and attract liquidity by creating a world-class digital commonwealth based on DeFi and real-world assets. Mavryk is built using the same VM and execution model as Tezos, so it will be simple to deploy across both chains.
After launching our current contracts on Tezos & Mavryk, we will be translating our code to be compatible with EVM, so that we can deploy on popular chains like Base, Fantom, and Arbitrum. 🙂
ODD Tokenomics
Admittedly, our token sale on Tezos didn’t attract many interested users. Still, we have only gotten more bullish on ODDITY after our latest development cycle. We’ve had conversations with potential tech partners which confirmed to us that we are on the right track. We’ve decided to rework the original tokenomics that we decided upon last year.
Since ODDITY’s future is multi-chain, we are going to need a new token strategy that will work across all chains. We’ve settled on a two-tiered approach. Before full release, we will be issuing what we call the mother token, which is $ODD. Rather than give you rights to any yield, ODD will give you rights to receive satellite tokens for each chain as we deploy them.
Example: if we are deployed across Tezos & Mavryk, then we would need to deploy $tzODD & $mvODD as satellite tokens. For satellite tokens, 100% of fees from the platform are paid directly to those who hold them. So all fees from ODDITY on Tezos would flow into tzODD.
This gives us the flexibility to add things like staking & treasury to ODD tokenomics while keeping the yield tokens clean. We have not decided what chain to deploy ODD on, and will update the community when we do. We will reserve a percentage of ODD supply for TokenPack holders to claim. 🙂
New Partners
As previously mentioned, we have been speaking with teams interested in perpetual markets and oracles. Our data needs go beyond simple token price feeds, so we have been working to find a partner that will help us with custom data delivery solutions.
Vinyl API will be leading efforts to find data feeds from different industries, like sports betting & government. The Vinyl team is building us a scalable delivery system which will aggregate feeds & transform data that will eventually land in our onchain oracles.
We can’t say much more, but we are excited to start working with our new friends at Vinyl to deliver data that is critical for our exotic markets. 🙂
Note: we will reserve a percentage of ODD allocation for Vinyl.
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ODDITY is moving along steadily. With a refreshed look and a new multi-chain focus, we are on the road to delivering exotic perpetuals that no other app has!
We hope you’ll support our journey and try the Ghostnet Beta.
Follow Genius Contracts on Twitter for all the latest updates.
GC 🙂
