OLAS Autonolas
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Frequently Asked Questions
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Overview of Autonolas Use Cases
Autonolas is designed to bridge the gap between the limitations of smart contracts and the need for continuous, autonomous operations in the digital space. Here are some key use cases:
Internal DAO Operations
- Meta Yield Hunter: Autonolas enables the use of machine learning to track yield opportunities across chains and protocols, autonomously moving positions to optimize yield.
- Asset Whitelisting: It dynamically evaluates assets based on diverse datasets to add and remove from whitelists.
- Contribution Coordinator: Autonolas watches for contributions on platforms like GitHub and Twitter, adjusting on-chain rewards and permissions accordingly.
New Services
- Web3-native Recommender: Autonolas allows for the creation of co-owned and operated engines to track opportunities and make personalized recommendations to crypto users.
- NFT Collector: Users can passively build exposure to quality baskets of NFTs.
- Fund Manager: Autonolas helps overcome the legal and trust challenges of running a decentralized fund.
Customizable App Infrastructure
- Oracles (On-chain Data Reporter): Autonolas enables the creation of future-proof oracles that are customizable, permissionless, and owned by the user.
- Keepers: It allows for the building of robust keeper systems to maintain any on-chain data based on user-defined criteria.
- Bridges (Cross-chain Messenger): Autonolas facilitates the creation of bridges to sync any type of data across chains and infrastructure, combining with oracles and keepers to build new services.
General Applications
- AI Agent Services: Autonolas provides a platform for developing and integrating AI agents within the crypto space, enabling autonomous decision-making and task execution.
- Decentralized Governance: It offers a decentralized governance structure through the Autonolas DAO, empowering the community to steer and refine the protocol.
- Token Utility: The OLAS token serves as a coordination mechanism, facilitating the on-chain registration of autonomous services, software agents, and components as NFTs, and incentivizing developers through rewards.
Last Updated: 12/5/2024 02:16 UTC -
Pros of Autonolas
- Integration of AI and ML Technologies: Autonolas stands out by integrating artificial intelligence (AI) and machine learning (ML) technologies into its ecosystem, which is not common in other cryptocurrencies.
- Developer Rewards: The project emphasizes developer rewards, incentivizing developers to contribute to the ecosystem by offering rewards for their work, which helps in attracting code contributors.
- Bonding Program: Autonolas offers a bonding program to attract capital, allowing individuals to bond their capital to the project, which helps fund its development and growth.
- Composability: The Autonolas stack enables building of services made up of multiple agents, offering enhanced functionalities on-chain and off-chain, which facilitates exponential application opportunities.
- Decentralized and Trust-Minimized: Autonolas provides a decentralized and trust-minimized environment for off-chain services, ensuring robustness and transparency.
Cons of Autonolas
- Market Volatility: Like other cryptocurrencies, Autonolas's price can be volatile, as seen in its 24-hour price drop of -7.87% and a yearly drop of -47.41%.
- Complexity: The integration of AI and ML technologies, along with its unique bonding program and developer incentives, may make Autonolas more complex to understand and use compared to other cryptocurrencies.
- Limited Adoption: Despite its unique features, Autonolas may face challenges in achieving widespread adoption, as it competes with more established cryptocurrencies.
- Dependence on Developer Contributions: The success of Autonolas heavily relies on the contributions of developers, which can be unpredictable and may not always meet the project's needs.
Last Updated: 12/5/2024 02:17 UTC -
Founders of Autonolas
The founders of Autonolas include David Minarsch, who is also the CEO of Valory, a team focused on providing research, products, and services at the intersection of multi-agent systems (MAS) and distributed ledger technology (DLT). David has a background in applied game theory and has worked on various projects related to blockchain and AI, including Fetch.ai and Centrality Labs. However, detailed information on all the co-founders is not readily available in the provided sources. For more information, you can visit the Autonolas website at https://olas.network.
Last Updated: 12/5/2024 02:17 UTC -
Investors in Autonolas
The specific investors in Autonolas are not detailed in the provided sources. However, here are some key points about the project's funding and token sale:
- Total Raised: The project raised $547.58K during its public sale.
- Public Sale: The public sale took place from July 5, 2023, to July 12, 2023, with 14.84M OLAS tokens sold at a price of $0.0369.
- IDO: The Initial DEX Offering (IDO) was conducted on an unspecified platform.
- Token Distribution: The total supply of OLAS tokens is 538.95M, with 2.75% of these tokens sold during the public sale.
- Project Overview: Autonolas is a network of off-chain services that includes automation, oracles, and co-owned AI, aiming to provide a unified platform for these services and incentivize their creation.
Last Updated: 12/5/2024 02:17 UTC -
Halal Status of Autonolas
- Halal Status: No definitive answer available.
- Reason: The halal status of Autonolas is not explicitly stated in the provided sources. While some experts argue that cryptocurrencies can be halal if they meet certain criteria, such as being considered "Māl" (wealth) and not involving interest or gambling-like activities, there is no specific evaluation of Autonolas in the given sources.
Key Considerations
- Islamic Finance Principles: Cryptocurrencies must adhere to Islamic finance principles, including not involving interest or gambling-like activities.
- Māl (Wealth) Criteria: Cryptocurrencies must be considered "Māl" to be halal, meaning they can be possessed, stored, and desired like other forms of wealth.
- Project Evaluation: Each cryptocurrency project must be evaluated individually to determine its halal status, considering factors such as its purpose, transparency, and adherence to Islamic finance principles.
Conclusion
Given the lack of specific information on Autonolas in the provided sources, it is not possible to definitively state whether Autonolas is halal or not. Users should consult Islamic finance experts or resources that specialize in evaluating the halal status of cryptocurrencies.
Last Updated: 12/5/2024 02:18 UTC
Description
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Autonolas, also known as Olas, is a unified network of off-chain services such as automation, oracles, and co-owned AI.
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